An issue of Builders FirstSource, Inc. (NASDAQ:BLDR) debt rose 0.9% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 5.625% coupon and is set to mature on September 1, 2024. The debt is now trading at $103.50 and was trading at $102.38 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its stock price.
BLDR has been the topic of several research analyst reports. Zacks Investment Research raised Builders FirstSource from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Monday, March 27th. Barclays PLC initiated coverage on Builders FirstSource in a research report on Thursday, January 5th. They issued an “equal weight” rating and a $12.00 price objective on the stock. FBR & Co reaffirmed an “outperform” rating and issued a $20.00 price objective (up previously from $15.00) on shares of Builders FirstSource in a research report on Friday, March 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Builders FirstSource in a research report on Thursday, March 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $16.17.
Shares of Builders FirstSource, Inc. (NASDAQ:BLDR) traded up 2.13% during midday trading on Thursday, hitting $15.31. The company’s stock had a trading volume of 903,328 shares. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 12.06 and a beta of 2.30. The firm has a 50-day moving average of $14.94 and a 200 day moving average of $12.15. Builders FirstSource, Inc. has a 12-month low of $9.04 and a 12-month high of $15.85.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.08. The company earned $1.55 billion during the quarter, compared to the consensus estimate of $1.50 billion. Builders FirstSource had a return on equity of 49.20% and a net margin of 2.03%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities research analysts predict that Builders FirstSource, Inc. will post $1.06 EPS for the current fiscal year.
In other Builders FirstSource news, CEO Floyd F. Sherman sold 15,000 shares of Builders FirstSource stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $15.32, for a total transaction of $229,800.00. Following the completion of the sale, the chief executive officer now directly owns 668,635 shares of the company’s stock, valued at approximately $10,243,488.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald F. Mcaleenan sold 71,937 shares of Builders FirstSource stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $15.06, for a total value of $1,083,371.22. Following the sale, the senior vice president now directly owns 241,755 shares of the company’s stock, valued at $3,640,830.30. The disclosure for this sale can be found here. Insiders have sold a total of 10,243,416 shares of company stock valued at $148,760,875 over the last ninety days. 36.20% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. Glassman Wealth Services increased its stake in shares of Builders FirstSource by 2,446.5% in the fourth quarter. Glassman Wealth Services now owns 10,186 shares of the company’s stock worth $112,000 after buying an additional 9,786 shares during the period. Wall Street Access Asset Management LLC acquired a new stake in shares of Builders FirstSource during the fourth quarter worth about $131,000. Ardsley Advisory Partners acquired a new stake in shares of Builders FirstSource during the third quarter worth about $144,000. Boothbay Fund Management LLC acquired a new stake in shares of Builders FirstSource during the fourth quarter worth about $139,000. Finally, Perritt Capital Management Inc. increased its stake in shares of Builders FirstSource by 6.7% in the fourth quarter. Perritt Capital Management Inc. now owns 12,800 shares of the company’s stock worth $140,000 after buying an additional 800 shares during the period. 80.91% of the stock is owned by institutional investors.
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Builders FirstSource Company Profile
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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