Builders FirstSource (BLDR) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Builders FirstSource (NASDAQ:BLDR) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Builders FirstSource is a leading supplier and manufacturer of structural and related building products for residential new construction in the United States. Manufacturing facilities include plants that manufacture roof and floor trusses, wall panels, stairs, aluminum and vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes windows, interior and exterior doors, dimensional lumber and lumber sheet goods, millwork and other building products. “

Several other brokerages also recently commented on BLDR. BidaskClub downgraded Builders FirstSource from a sell rating to a strong sell rating in a research note on Saturday, July 14th. Wedbush lifted their target price on Builders FirstSource from $27.00 to $30.00 and gave the stock an outperform rating in a research note on Tuesday, July 17th. ValuEngine upgraded Builders FirstSource from a sell rating to a hold rating in a research note on Tuesday, July 31st. Stephens set a $21.00 price target on Builders FirstSource and gave the company a buy rating in a research note on Monday, August 6th. Finally, Stifel Nicolaus restated a buy rating and issued a $25.00 price target (down from $28.00) on shares of Builders FirstSource in a research note on Thursday, August 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Builders FirstSource has an average rating of Hold and an average price target of $19.62.

Shares of NASDAQ BLDR opened at $13.58 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 2.04 and a debt-to-equity ratio of 4.23. Builders FirstSource has a 12 month low of $11.60 and a 12 month high of $23.28. The company has a market cap of $1.67 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 1.64 and a beta of 1.93.

Builders FirstSource (NASDAQ:BLDR) last issued its earnings results on Thursday, November 1st. The company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. Builders FirstSource had a return on equity of 51.99% and a net margin of 1.44%. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the company posted $0.39 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, research analysts expect that Builders FirstSource will post 1.8 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in shares of Builders FirstSource by 62.9% during the 3rd quarter. Wells Fargo & Company MN now owns 1,152,588 shares of the company’s stock worth $16,920,000 after buying an additional 445,200 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Builders FirstSource during the 3rd quarter worth $194,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Builders FirstSource by 28.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 168,924 shares of the company’s stock worth $2,480,000 after buying an additional 37,281 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Builders FirstSource during the 3rd quarter worth $953,000. Finally, Shufro Rose & Co. LLC acquired a new position in shares of Builders FirstSource during the 3rd quarter worth $1,594,000. 91.55% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Company Profile

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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