Builders FirstSource Inc. (NASDAQ:BLDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
Other equities analysts have also issued reports about the company. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Builders FirstSource in a report on Tuesday, June 28th. Citigroup Inc. lifted their price objective on Builders FirstSource from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Finally, Wedbush reissued an “outperform” rating and set a $18.00 price objective on shares of Builders FirstSource in a research note on Tuesday, September 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $15.43.
Shares of Builders FirstSource (NASDAQ:BLDR) traded up 1.46% during midday trading on Wednesday, hitting $10.43. The stock had a trading volume of 2,001,521 shares. Builders FirstSource has a 1-year low of $6.50 and a 1-year high of $15.72. The firm’s 50-day moving average price is $11.99 and its 200-day moving average price is $11.99. The stock’s market cap is $1.15 billion.
Builders FirstSource (NASDAQ:BLDR) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.05. Builders FirstSource had a positive return on equity of 38.21% and a negative net margin of 0.12%. The company earned $1.70 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $0.14 earnings per share. Builders FirstSource’s revenue was up 263.4% on a year-over-year basis. Analysts forecast that Builders FirstSource will post $0.80 earnings per share for the current year.
In other Builders FirstSource news, SVP Donald F. Mcaleenan sold 70,000 shares of Builders FirstSource stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $12.56, for a total transaction of $879,200.00. Following the completion of the sale, the senior vice president now owns 373,238 shares of the company’s stock, valued at $4,687,869.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Floyd F. Sherman sold 235,753 shares of Builders FirstSource stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $12.39, for a total value of $2,920,979.67. Following the sale, the chief executive officer now directly owns 559,963 shares of the company’s stock, valued at approximately $6,937,941.57. The disclosure for this sale can be found here. Company insiders own 36.20% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Ruane Cunniff & Goldfarb Inc. purchased a new stake in shares of Builders FirstSource during the second quarter valued at about $45,083,000. Marshall Wace LLP raised its stake in shares of Builders FirstSource by 4,247.1% in the second quarter. Marshall Wace LLP now owns 2,548,541 shares of the company’s stock valued at $28,671,000 after buying an additional 2,489,915 shares during the period. Lord Abbett & CO. LLC raised its stake in shares of Builders FirstSource by 113.7% in the second quarter. Lord Abbett & CO. LLC now owns 3,493,471 shares of the company’s stock valued at $39,301,000 after buying an additional 1,858,635 shares during the period. Bank of Montreal Can purchased a new stake in shares of Builders FirstSource during the second quarter valued at about $20,720,000. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Builders FirstSource by 123.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 2,010,499 shares of the company’s stock valued at $22,618,000 after buying an additional 1,110,499 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.
About Builders FirstSource
Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors and consumers. The Company’s operating segments include Northeast, Southeast, South and West. It offers solution to its customers providing manufacturing, supply and installation of a range of structural and related building products.
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