Builders FirstSource, Inc. (NASDAQ:BLDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
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 research analysts have also recently issued reports about the company. Wedbush reiterated a “buy” rating and set a $20.00 price target on shares of Builders FirstSource in a research report on Thursday, September 7th. BidaskClub upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. FBR & Co reiterated a “buy” rating and set a $20.00 price target on shares of Builders FirstSource in a research report on Tuesday, June 27th. Finally, Deutsche Bank AG upped their price target on Builders FirstSource from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $17.33.
Builders FirstSource (BLDR) opened at 17.47 on Monday. Builders FirstSource has a 52-week low of $9.04 and a 52-week high of $18.23. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 11.56 and a beta of 2.09. The company’s 50-day moving average is $16.72 and its 200-day moving average is $15.62.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.03. Builders FirstSource had a return on equity of 43.83% and a net margin of 2.60%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the business posted $0.31 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts expect that Builders FirstSource will post $1.11 earnings per share for the current fiscal year.
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In related news, major shareholder Jll Partners Fund V. Lp sold 13,482,177 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $16.17, for a total value of $218,006,802.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert C. Griffin sold 17,655 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $16.83, for a total transaction of $297,133.65. Following the completion of the transaction, the director now owns 40,050 shares in the company, valued at $674,041.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,645,368 shares of company stock worth $220,735,138. 14.60% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Alps Advisors Inc. boosted its stake in Builders FirstSource by 0.3% in the second quarter. Alps Advisors Inc. now owns 31,670 shares of the company’s stock worth $485,000 after buying an additional 82 shares in the last quarter. 1st Global Advisors Inc. boosted its stake in Builders FirstSource by 1.0% in the second quarter. 1st Global Advisors Inc. now owns 13,694 shares of the company’s stock worth $210,000 after buying an additional 137 shares in the last quarter. Suntrust Banks Inc. boosted its stake in Builders FirstSource by 1.9% in the second quarter. Suntrust Banks Inc. now owns 27,934 shares of the company’s stock worth $427,000 after buying an additional 515 shares in the last quarter. Wall Street Access Asset Management LLC boosted its stake in Builders FirstSource by 5.0% in the second quarter. Wall Street Access Asset Management LLC now owns 16,800 shares of the company’s stock worth $257,000 after buying an additional 800 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Builders FirstSource by 17.3% in the second quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock worth $130,000 after buying an additional 1,253 shares in the last quarter. Institutional investors own 85.46% of the company’s stock.
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.
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