Builders FirstSource (NYSE:BLDR) Hits New 12-Month Low - Here's What Happened

Builders FirstSource, Inc. (NYSE:BLDR - Get Free Report)'s stock price reached a new 52-week low on Tuesday . The company traded as low as $102.60 and last traded at $105.55, with a volume of 2245143 shares trading hands. The stock had previously closed at $107.68.

Analysts Set New Price Targets

Several brokerages have issued reports on BLDR. Stephens decreased their target price on shares of Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Barclays reduced their price target on shares of Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Benchmark lowered their price objective on Builders FirstSource from $200.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Loop Capital cut their target price on Builders FirstSource from $190.00 to $170.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Builders FirstSource in a research note on Tuesday, April 1st. They issued a "buy" rating and a $151.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $167.58.

Builders FirstSource Price Performance

The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $12.52 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 0.80 and a beta of 1.79. The firm has a 50 day moving average price of $116.00 and a 200 day moving average price of $140.55.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.01. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The firm's revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.65 EPS. Research analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource declared that its board has authorized a share buyback plan on Thursday, May 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Dirkson R. Charles purchased 5,000 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were acquired at an average price of $109.67 per share, for a total transaction of $548,350.00. Following the purchase, the director now owns 5,000 shares in the company, valued at $548,350. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul S. Levy bought 283,517 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $111.21 per share, with a total value of $31,529,925.57. Following the completion of the transaction, the director now directly owns 1,672,687 shares of the company's stock, valued at $186,019,521.27. This trade represents a 20.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 505,000 shares of company stock valued at $56,032,120 in the last ninety days. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Builders FirstSource

Institutional investors and hedge funds have recently modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. grew its stake in Builders FirstSource by 3.4% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,943 shares of the company's stock valued at $278,000 after acquiring an additional 64 shares in the last quarter. TFB Advisors LLC grew its position in Builders FirstSource by 2.1% in the 4th quarter. TFB Advisors LLC now owns 3,819 shares of the company's stock valued at $546,000 after acquiring an additional 79 shares in the last quarter. HighPoint Advisor Group LLC boosted its stake in shares of Builders FirstSource by 5.2% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,677 shares of the company's stock valued at $262,000 after purchasing an additional 83 shares during the period. Aptus Capital Advisors LLC raised its stake in shares of Builders FirstSource by 6.0% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,494 shares of the company's stock valued at $214,000 after acquiring an additional 85 shares in the last quarter. Finally, Auxano Advisors LLC raised its position in Builders FirstSource by 3.8% in the 1st quarter. Auxano Advisors LLC now owns 2,479 shares of the company's stock valued at $310,000 after purchasing an additional 91 shares in the last quarter. 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.