Wedbush Lowers Builders FirstSource (NYSE:BLDR) Price Target to $145.00

Builders FirstSource (NYSE:BLDR - Get Free Report) had its price objective lowered by research analysts at Wedbush from $190.00 to $145.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Wedbush's price target suggests a potential upside of 21.53% from the company's current price.

Several other equities analysts have also recently issued reports on the company. Benchmark decreased their price objective on Builders FirstSource from $200.00 to $170.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Robert W. Baird set a $130.00 price objective on Builders FirstSource in a research note on Friday, May 2nd. The Goldman Sachs Group decreased their price objective on Builders FirstSource from $200.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Loop Capital decreased their target price on Builders FirstSource from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, UBS Group decreased their target price on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $163.11.

Builders FirstSource Trading Up 3.9%

Builders FirstSource stock traded up $4.49 during midday trading on Friday, reaching $119.31. 2,523,987 shares of the stock traded hands, compared to its average volume of 1,698,923. The company has a 50-day simple moving average of $113.64 and a two-hundred day simple moving average of $133.75. The company has a current ratio of 1.82, a quick ratio of 1.07 and a debt-to-equity ratio of 1.02. The firm has a market cap of $13.18 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 7.31 and a beta of 1.70. Builders FirstSource has a 12-month low of $102.60 and a 12-month high of $203.14.

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 the consensus estimate of $1.50 by $0.01. The business 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 28.02% and a net margin of 5.66%. The business's quarterly revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.65 EPS. Research analysts expect that Builders FirstSource will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Builders FirstSource news, Director Dirkson R. Charles purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were purchased at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at $548,350. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paul S. Levy purchased 216,483 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average price of $110.65 per share, for a total transaction of $23,953,843.95. Following the completion of the purchase, the director now owns 1,389,170 shares of the company's stock, valued at approximately $153,711,660.50. This represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 505,000 shares of company stock valued at $56,032,120 over the last quarter. Company insiders own 1.80% of the company's stock.

Institutional Trading of Builders FirstSource

A number of institutional investors have recently bought and sold shares of BLDR. Smartleaf Asset Management LLC lifted its position in shares of Builders FirstSource by 34.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 518 shares of the company's stock valued at $74,000 after acquiring an additional 134 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Builders FirstSource by 14.9% in the fourth quarter. Fisher Asset Management LLC now owns 196,491 shares of the company's stock valued at $28,084,000 after purchasing an additional 25,535 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Builders FirstSource by 36.1% during the 4th quarter. Benjamin Edwards Inc. now owns 11,188 shares of the company's stock worth $1,599,000 after buying an additional 2,967 shares during the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of Builders FirstSource by 22.8% in the 1st quarter. Capital Investment Advisors LLC now owns 12,882 shares of the company's stock worth $1,609,000 after purchasing an additional 2,390 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of Builders FirstSource in the 1st quarter worth approximately $1,012,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

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.