Builders FirstSource (NYSE: BLDR) shares a gap after the pace of earnings

FirstSource Builders, Inc. (NYSE: BLDR – Get a rating) the stock price rose ahead of Monday’s trading after a better-than-expected earnings announcement. The stock had previously closed at $68.00, but opened at $70.00. Builders FirstSource shares last traded at $72.76, with volume of 41,526 shares changing hands.

The company reported earnings per share (EPS) of $6.26 for the quarter, beating analyst consensus estimates of $2.91 from $3.35. Builders FirstSource achieved a net margin of 11.79% and a return on equity of 58.32%. The company posted revenue of $6.93 billion in the quarter, versus analyst estimates of $5.55 billion. During the same period last year, the company posted EPS of $2.76. Builders FirstSource’s revenue for the quarter increased 24.2% compared to the same quarter last year.

Wall Street analysts predict growth

Several research companies have recently weighed in on BLDR. Robert W. Baird raised his price target on Builders FirstSource shares from $74.00 to $100.00 and gave the company a “hold” rating in a report released Tuesday. Truist Financial raised its price target on Builders FirstSource shares from $78.00 to $85.00 and gave the company a “hold” rating in a report released Tuesday. Wedbush reissued an “outperform” rating and posted a $110.00 price target on Builders FirstSource shares in a research note on Monday. Barclays raised its price target on Builders FirstSource shares from $86.00 to $93.00 and gave the company a “holding” rating in a research note on Tuesday. Finally, BTIG Research downgraded shares of Builders FirstSource from a “buy” rating to a “neutral” rating in a research note on Tuesday. Four analysts gave the stock a hold rating and six gave the stock a buy rating. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $89.85.

Insider activity

In related news, the director Floyd F. Sherman sold 35,000 shares of the company in a transaction dated Tuesday, June 14. The shares were sold at an average price of $55.09, for a total value of $1,928,150.00. As a result of the sale, the administrator now directly owns 13,972 shares of the company, valued at approximately $769,717.48. The sale was disclosed in a legal filing with the SEC, accessible via this link. Company insiders own 1.40% of the company’s shares.

FirstSource Builder Institutional Trade

Several institutional investors and hedge funds have been buying and selling stocks recently. Bessemer Group Inc. acquired a new stake in Builders FirstSource during the fourth quarter valued at approximately $101,000. National Asset Management Inc. acquired a new stake in Builders FirstSource during the fourth quarter worth approximately $355,000. Commonwealth Equity Services LLC increased its stake in Builders FirstSource by 63.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 13,427 shares of the company worth $1,150,000 after purchasing an additional 5,214 shares during the period. Dupont Capital Management Corp increased its stake in Builders FirstSource by 37.3% during the fourth quarter. Dupont Capital Management Corp now owns 19,374 shares of the company worth $1,661,000 after purchasing an additional 5,265 shares during the period. Finally, DA Davidson & CO. increased its stake in Builders FirstSource by 38.2% during the fourth quarter. DA Davidson & CO. now owns 8,037 shares of the company worth $689,000 after purchasing an additional 2,220 shares during the period. 99.39% of the shares are currently held by hedge funds and other institutional investors.

Builders FirstSource Price Performance

The company has a debt ratio of 0.69, a current ratio of 2.09 and a quick ratio of 1.19. The company has a market capitalization of $12.42 billion, a PE ratio of 4.81 and a beta of 2.18. The stock’s 50-day simple moving average is $60.94 and its 200-day simple moving average is $65.47.

About Builders FirstSource

(Get a rating)

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, fabricated components and construction services to professional home builders, contractors, remodelers and consumers in the United States. It offers lumber and lumber sheet products including dimensional lumber, plywood and oriented strand board products that are used in the framing of on-site homes; manufactured products, such as wooden floors and roof trusses, steel roof trusses, wall panels, stairs and engineered wood products; and windows, and interior and exterior door units, as well as interior and exterior trim and custom products under the Synboard brand.

Further reading

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Builders FirstSource right now?

Before you consider Builders FirstSource, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Builders FirstSource wasn’t on the list.

Although Builders FirstSource currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Comments are closed.