SunTrust Banks Lowers Builders FirstSource (BLDR) Price Target to $17.00

Builders FirstSource (NASDAQ:BLDR) had its price objective reduced by SunTrust Banks to $17.00 in a research report report published on Monday morning, The Fly reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on BLDR. BidaskClub lowered shares of Builders FirstSource from a sell rating to a strong sell rating in a report on Saturday, July 14th. Zacks Investment Research upgraded shares of Builders FirstSource from a hold rating to a buy rating and set a $20.00 target price on the stock in a report on Monday, July 16th. Wedbush lifted their target price on shares of Builders FirstSource from $27.00 to $30.00 and gave the company an outperform rating in a report on Tuesday, July 17th. ValuEngine lowered shares of Builders FirstSource from a hold rating to a sell rating in a report on Wednesday, July 25th. Finally, Stephens set a $21.00 target price on shares of Builders FirstSource and gave the company a buy rating in a report on Monday, August 6th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $19.62.

Shares of NASDAQ:BLDR traded up $0.06 during midday trading on Monday, hitting $13.76. 32,957 shares of the company’s stock traded hands, compared to its average volume of 1,901,326. The company has a current ratio of 2.04, a quick ratio of 1.12 and a debt-to-equity ratio of 4.23. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 1.64 and a beta of 1.93. Builders FirstSource has a twelve month low of $11.60 and a twelve month high of $23.28.

Builders FirstSource (NASDAQ:BLDR) last posted its earnings results on Thursday, November 1st. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.08. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.08 billion. Builders FirstSource had a net margin of 1.44% and a return on equity of 51.99%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. On average, analysts predict that Builders FirstSource will post 1.77 earnings per share for the current year.

In other Builders FirstSource news, Director Robert C. Griffin sold 16,756 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $17.15, for a total value of $287,365.40. Following the transaction, the director now owns 30,104 shares in the company, valued at approximately $516,283.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cleveland A. Christophe sold 30,000 shares of the business’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $16.07, for a total transaction of $482,100.00. Following the completion of the transaction, the director now owns 24,991 shares in the company, valued at approximately $401,605.37. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of BLDR. Altshuler Shaham Ltd acquired a new position in Builders FirstSource in the 2nd quarter worth $24,638,000. BlackRock Inc. increased its position in shares of Builders FirstSource by 7.3% in the 2nd quarter. BlackRock Inc. now owns 8,631,344 shares of the company’s stock worth $157,869,000 after purchasing an additional 585,206 shares during the last quarter. Sei Investments Co. increased its position in shares of Builders FirstSource by 497.1% in the 2nd quarter. Sei Investments Co. now owns 635,305 shares of the company’s stock worth $11,621,000 after purchasing an additional 528,913 shares during the last quarter. Hillcrest Asset Management LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter worth about $9,555,000. Finally, Wells Fargo & Company MN increased its position in shares of Builders FirstSource by 62.9% in the 3rd quarter. Wells Fargo & Company MN now owns 1,152,588 shares of the company’s stock worth $16,920,000 after purchasing an additional 445,200 shares during the last quarter. Hedge funds and other institutional investors own 91.55% 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.

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