Builders FirstSource (NYSE:BLDR) Given New $187.00 Price Target at Royal Bank of Canada

Builders FirstSource (NYSE:BLDR) had its target price raised by Royal Bank of Canada from $178.00 to $187.00 in a report published on Wednesday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

BLDR has been the subject of several other research reports. Barclays boosted their price objective on shares of Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Stifel Nicolaus decreased their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Benchmark dropped their price target on Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Jefferies Financial Group increased their price objective on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group initiated coverage on Builders FirstSource in a report on Thursday, October 10th. They issued a “buy” rating and a $225.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Builders FirstSource currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.88.

Builders FirstSource Trading Down 0.1 %

BLDR stock traded down $0.18 during mid-day trading on Wednesday, reaching $176.60. 496,213 shares of the stock traded hands, compared to its average volume of 1,572,676. Builders FirstSource has a one year low of $120.80 and a one year high of $214.70. The stock has a market capitalization of $20.57 billion, a PE ratio of 15.52, a PEG ratio of 10.15 and a beta of 2.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The business has a 50-day moving average price of $184.58 and a two-hundred day moving average price of $168.44.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the firm earned $4.24 earnings per share. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts expect that Builders FirstSource will post 11.69 EPS for the current year.

Builders FirstSource declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLDR. Baillie Gifford & Co. purchased a new stake in shares of Builders FirstSource in the third quarter valued at approximately $267,132,000. Boston Partners grew its holdings in Builders FirstSource by 0.8% in the 1st quarter. Boston Partners now owns 1,377,335 shares of the company’s stock valued at $285,794,000 after buying an additional 10,551 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Builders FirstSource during the 3rd quarter worth $255,867,000. Massachusetts Financial Services Co. MA boosted its position in shares of Builders FirstSource by 339.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after acquiring an additional 911,990 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Builders FirstSource by 22.7% in the second quarter. Bank of New York Mellon Corp now owns 1,062,488 shares of the company’s stock valued at $147,059,000 after purchasing an additional 196,571 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.