Brokerages Set Builders FirstSource, Inc. (BLDR) Target Price at $23.41

Builders FirstSource, Inc. (NASDAQ:BLDR) has received an average recommendation of “Buy” from the thirteen brokerages that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $23.41.

A number of brokerages have commented on BLDR. B. Riley reissued a “buy” rating on shares of Builders FirstSource in a report on Wednesday, November 1st. Stifel Nicolaus increased their price objective on shares of Builders FirstSource from $23.00 to $26.50 and gave the stock a “buy” rating in a report on Monday, January 22nd. ValuEngine raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Wedbush set a $30.00 price objective on shares of Builders FirstSource and gave the stock an “outperform” rating in a report on Friday, January 12th. Finally, Stephens reissued a “buy” rating and set a $27.00 price objective on shares of Builders FirstSource in a report on Wednesday, January 17th.

In other news, CEO Floyd F. Sherman sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $19.43, for a total value of $777,200.00. Following the transaction, the chief executive officer now owns 623,635 shares of the company’s stock, valued at approximately $12,117,228.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter M. Jackson sold 12,500 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $20.51, for a total transaction of $256,375.00. Following the completion of the transaction, the chief financial officer now directly owns 26,587 shares in the company, valued at approximately $545,299.37. The disclosure for this sale can be found here. 14.60% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BLDR. JPMorgan Chase & Co. boosted its stake in shares of Builders FirstSource by 6.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 97,728 shares of the company’s stock valued at $1,497,000 after purchasing an additional 6,181 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Builders FirstSource by 156.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 218,727 shares of the company’s stock valued at $3,351,000 after purchasing an additional 133,410 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Builders FirstSource by 27.5% in the 2nd quarter. Nationwide Fund Advisors now owns 62,242 shares of the company’s stock valued at $954,000 after purchasing an additional 13,427 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Builders FirstSource by 8.9% in the 2nd quarter. BlackRock Inc. now owns 6,912,890 shares of the company’s stock valued at $105,905,000 after purchasing an additional 563,694 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Builders FirstSource by 21.2% in the 2nd quarter. Amalgamated Bank now owns 12,450 shares of the company’s stock valued at $191,000 after purchasing an additional 2,178 shares during the last quarter. 97.31% of the stock is currently owned by institutional investors.

Shares of Builders FirstSource (NASDAQ:BLDR) traded up $0.06 during trading hours on Tuesday, reaching $19.88. 1,160,600 shares of the company’s stock were exchanged, compared to its average volume of 1,384,137. Builders FirstSource has a 12-month low of $12.12 and a 12-month high of $23.28. The company has a current ratio of 1.86, a quick ratio of 1.06 and a debt-to-equity ratio of 4.46. The company has a market cap of $2,330.00, a price-to-earnings ratio of 27.12 and a beta of 2.01.

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About Builders FirstSource

Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.

Analyst Recommendations for Builders FirstSource (NASDAQ:BLDR)

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