Builders FirstSource (NYSE:BLDR) Shares Climb 6.9% – Time to Buy?

Builders FirstSource, Inc. (NYSE:BLDR)’s stock price rose 6.9% during trading on Thursday. The stock traded as high as $53.77 and last traded at $54.0030. 1,174,249 shares traded hands during trading, a decline of 53% from the average daily volume of 2,519,394 shares. The stock had previously closed at $50.52.

Analyst Ratings Changes

A number of equities research analysts recently commented on BLDR shares. Zacks Research raised Builders FirstSource from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. KeyCorp cut their price target on shares of Builders FirstSource from $100.00 to $91.00 and set an “overweight” rating for the company in a research note on Monday, July 13th. Weiss Ratings lowered shares of Builders FirstSource from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 21st. Citizens Jmp assumed coverage on Builders FirstSource in a report on Friday, August 21st. They set a “market perform” rating on the stock. Finally, Melius Research assumed coverage on Builders FirstSource in a research note on Tuesday, October 6th. They issued a “sell” rating and a $52.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Builders FirstSource presently has a consensus rating of “Hold” and an average target price of $84.50.

Builders FirstSource Trading Up 5.1%

The firm has a fifty day moving average of $62.87 and a two-hundred day moving average of $73.00. The company has a market cap of $5.72 billion, a PE ratio of 58.22, a price-to-earnings-growth ratio of 1.66 and a beta of 1.45. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the prior year, the business posted $2.38 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts predict that Builders FirstSource, Inc. will post 3.19 EPS for the current year.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Builders FirstSource during the 2nd quarter worth about $700,934,000. The Manufacturers Life Insurance Company acquired a new stake in Builders FirstSource in the second quarter valued at approximately $7,317,000. Lodge Hill Capital LLC raised its stake in shares of Builders FirstSource by 9.9% during the first quarter. Lodge Hill Capital LLC now owns 333,000 shares of the company’s stock valued at $27,416,000 after purchasing an additional 30,000 shares during the period. JB Capital Partners LP acquired a new position in shares of Builders FirstSource in the second quarter worth about $26,151,872. Finally, GoodHaven Capital Management LLC boosted its stake in shares of Builders FirstSource by 23.4% during the 2nd quarter. GoodHaven Capital Management LLC now owns 228,760 shares of the company’s stock valued at $20,469,000 after buying an additional 43,330 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Company Profile

Builders FirstSource, Inc (NYSE: BLDR) is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction professionals in the United States. The company serves customers through a network of locations across the country and supports both residential and selected commercial construction projects.

Its product offerings include lumber and other structural materials, engineered wood products, windows, interior and exterior doors, roofing, siding, cabinets, flooring and related building supplies.