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

Builders FirstSource, Inc. (NYSE:BLDR) gapped up prior to trading 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.

Several other brokerages also recently commented on BLDR. Wedbush raised their target price on Builders FirstSource from $175.00 to $225.00 and gave the company an “outperform” rating in a report on Monday, February 12th. Truist Financial increased their price objective on shares of Builders FirstSource from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, February 23rd. Barclays boosted their target price on shares of Builders FirstSource from $235.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, April 4th. Royal Bank of Canada raised their price target on shares of Builders FirstSource from $186.00 to $211.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Finally, Bank of America raised shares of Builders FirstSource from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $153.00 to $200.00 in a research note on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $190.06.

Insider Transactions at Builders FirstSource

In other Builders FirstSource news, Director Cory Jacobs Boydston sold 7,759 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $200.00, for a total transaction of $1,551,800.00. Following the sale, the director now directly owns 28,738 shares of the company’s stock, valued at $5,747,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Trading of Builders FirstSource

Hedge funds have recently made changes to their positions in the stock. EdgeRock Capital LLC acquired a new position in Builders FirstSource during the 4th quarter valued at about $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Builders FirstSource during the fourth quarter valued at approximately $28,000. Rakuten Securities Inc. acquired a new position in shares of Builders FirstSource during the fourth quarter worth approximately $29,000. Rock Creek Group LP acquired a new position in shares of Builders FirstSource during the third quarter worth approximately $30,000. Finally, BluePath Capital Management LLC bought a new position in Builders FirstSource in the 3rd quarter worth approximately $31,000. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Trading Up 3.4 %

The firm has a 50-day moving average of $195.53 and a 200 day moving average of $162.25. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 1.11 and a beta of 2.04.

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

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.