Builders FirstSource (NYSE:BLDR) Shares Gap Up Following Analyst Upgrade

Builders FirstSource, Inc. (NYSE:BLDR) gapped up before the market opened on Thursday after Jefferies Financial Group raised their price target on the stock from $226.00 to $237.00. The stock had previously closed at $179.31, but opened at $184.44. Jefferies Financial Group currently has a buy rating on the stock. Builders FirstSource shares last traded at $183.63, with a volume of 151,998 shares changing hands.

Other research analysts also recently issued reports about the company. Truist Financial lifted their target price on Builders FirstSource from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. StockNews.com raised Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Oppenheimer lifted their price target on Builders FirstSource from $220.00 to $242.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Wedbush boosted their target price on Builders FirstSource from $175.00 to $225.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Finally, Bank of America upgraded Builders FirstSource from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $153.00 to $200.00 in a research note on Monday, January 29th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Builders FirstSource presently has an average rating of “Moderate Buy” and an average price target of $190.06.

Insider Activity at Builders FirstSource

In related news, Director Cory Jacobs Boydston sold 7,759 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $200.00, for a total value of $1,551,800.00. Following the transaction, the director now owns 28,738 shares in the company, valued at $5,747,600. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Builders FirstSource

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Builders FirstSource by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 17,422,176 shares of the company’s stock valued at $1,124,428,000 after acquiring an additional 86,484 shares during the period. Wellington Management Group LLP raised its holdings in Builders FirstSource by 14.8% during the 1st quarter. Wellington Management Group LLP now owns 11,277,012 shares of the company’s stock valued at $727,819,000 after acquiring an additional 1,455,580 shares during the period. State Street Corp raised its holdings in Builders FirstSource by 0.4% during the 1st quarter. State Street Corp now owns 4,552,723 shares of the company’s stock valued at $404,191,000 after acquiring an additional 17,357 shares during the period. Alliancebernstein L.P. raised its holdings in Builders FirstSource by 182.0% during the 2nd quarter. Alliancebernstein L.P. now owns 2,305,047 shares of the company’s stock valued at $313,486,000 after acquiring an additional 1,487,620 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Builders FirstSource by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 2,138,839 shares of the company’s stock valued at $190,771,000 after acquiring an additional 35,562 shares during the period. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.67, a current ratio of 1.77 and a quick ratio of 1.11. The stock has a market cap of $21.57 billion, a P/E ratio of 14.75, a PEG ratio of 1.09 and a beta of 2.04. The firm’s fifty day moving average price is $195.30 and its two-hundred day moving average price is $162.76.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $3.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.85. Builders FirstSource had a return on equity of 41.10% and a net margin of 9.01%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.01 billion. As a group, equities research analysts forecast that Builders FirstSource, Inc. will post 13.84 EPS for the current year.

Builders FirstSource Company Profile

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.