Builders FirstSource (NYSE:BLDR) Sets New 12-Month Low Following Analyst Downgrade

Builders FirstSource, Inc. (NYSE:BLDR - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $125.00 to $118.00. Stifel Nicolaus currently has a hold rating on the stock. Builders FirstSource traded as low as $109.05 and last traded at $110.09, with a volume of 110652 shares traded. The stock had previously closed at $111.86.

Several other analysts have also commented on the company. Stephens dropped their price objective on Builders FirstSource from $145.00 to $140.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Raymond James reissued an "outperform" rating and set a $140.00 target price (down previously from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. Royal Bank of Canada decreased their price target on shares of Builders FirstSource from $162.00 to $132.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. BMO Capital Markets cut their price objective on Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Builders FirstSource in a report on Tuesday, April 1st. They set a "buy" rating and a $151.00 target price for the company. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.58.

Hedge Funds Weigh In On Builders FirstSource

A number of hedge funds have recently modified their holdings of BLDR. Ontario Teachers Pension Plan Board lifted its position in Builders FirstSource by 12.7% in the first quarter. Ontario Teachers Pension Plan Board now owns 14,826 shares of the company's stock valued at $1,852,000 after buying an additional 1,665 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Builders FirstSource by 1.4% in the 1st quarter. Deutsche Bank AG now owns 612,619 shares of the company's stock worth $76,541,000 after acquiring an additional 8,241 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Builders FirstSource by 9.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 909,866 shares of the company's stock worth $113,679,000 after purchasing an additional 76,368 shares during the period. ASR Vermogensbeheer N.V. acquired a new stake in Builders FirstSource in the 1st quarter valued at approximately $404,000. Finally, Levin Capital Strategies L.P. purchased a new stake in Builders FirstSource in the first quarter valued at approximately $500,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Builders FirstSource Stock Down 0.3 %

The business has a 50 day simple moving average of $122.03 and a 200 day simple moving average of $148.62. The company has a market capitalization of $12.59 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 0.80 and a beta of 1.79. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.77 and a quick ratio of 1.16.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.51 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 analysts' expectations of $3.67 billion. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. Builders FirstSource's revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the business posted $2.65 EPS. As a group, equities analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's management believes its shares are undervalued.

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.