DA Davidson Lowers Builders FirstSource (BLDR) to Neutral

DA Davidson downgraded shares of Builders FirstSource (NASDAQ:BLDR) from a buy rating to a neutral rating in a report issued on Thursday morning, Marketbeat.com reports. They currently have $14.00 price objective on the stock, down from their previous price objective of $20.00.

BLDR has been the topic of a number of other research reports. Barclays set a $16.00 price target on Builders FirstSource and gave the stock a hold rating in a research note on Monday, November 5th. SunTrust Banks dropped their price target on Builders FirstSource to $17.00 and set a buy rating on the stock in a research note on Monday, November 5th. BidaskClub lowered Builders FirstSource from a sell rating to a strong sell rating in a research note on Tuesday, September 25th. Wedbush restated an outperform rating and set a $20.00 price target on shares of Builders FirstSource in a research note on Thursday, November 29th. Finally, ValuEngine lowered Builders FirstSource from a sell rating to a strong sell rating in a research note on Friday, September 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $16.82.

Shares of BLDR stock opened at $12.42 on Thursday. Builders FirstSource has a fifty-two week low of $10.15 and a fifty-two week high of $23.28. The stock has a market cap of $1.48 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 1.45 and a beta of 2.03. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.21 and a current ratio of 2.09.

Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.08. Builders FirstSource had a return on equity of 48.32% and a net margin of 1.44%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Sell-side analysts predict that Builders FirstSource will post 1.87 EPS for the current year.

In related news, Director Floyd F. Sherman sold 196,512 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $13.78, for a total value of $2,707,935.36. Following the sale, the director now owns 478,346 shares in the company, valued at $6,591,607.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO David E. Rush bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, December 10th. The stock was purchased at an average price of $11.73 per share, for a total transaction of $46,920.00. Following the transaction, the chief operating officer now owns 30,390 shares of the company’s stock, valued at $356,474.70. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NumerixS Investment Technologies Inc boosted its position in Builders FirstSource by 229.8% in the second quarter. NumerixS Investment Technologies Inc now owns 5,600 shares of the company’s stock valued at $101,000 after buying an additional 3,902 shares during the last quarter. IndexIQ Advisors LLC boosted its position in Builders FirstSource by 3.9% in the third quarter. IndexIQ Advisors LLC now owns 114,579 shares of the company’s stock valued at $1,682,000 after buying an additional 4,328 shares during the last quarter. Essex Investment Management Co. LLC boosted its position in Builders FirstSource by 3.2% in the third quarter. Essex Investment Management Co. LLC now owns 154,116 shares of the company’s stock valued at $2,262,000 after buying an additional 4,807 shares during the last quarter. Rhumbline Advisers boosted its position in Builders FirstSource by 6.1% in the second quarter. Rhumbline Advisers now owns 109,475 shares of the company’s stock valued at $2,002,000 after buying an additional 6,261 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in Builders FirstSource by 1,143.6% in the third quarter. Rehmann Capital Advisory Group now owns 7,897 shares of the company’s stock valued at $538,000 after buying an additional 7,262 shares during the last quarter. Hedge funds and other institutional investors own 93.61% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. Its products include lumber and lumber sheet goods comprising dimensional lumber, plywood, and OSB products that are used in on-site house framing; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand.

See Also: What are the economic characteristics of a bear market?

Analyst Recommendations for Builders FirstSource (NASDAQ:BLDR)

Receive News & Ratings for Builders FirstSource Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Builders FirstSource and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply