Builders FirstSource, Inc. (NASDAQ:BLDR) – Analysts at FBR & Co lowered their Q2 2017 earnings estimates for Builders FirstSource in a note issued to investors on Tuesday. FBR & Co analyst A. Rygiel now forecasts that the company will earn $0.34 per share for the quarter, down from their prior forecast of $0.37. FBR & Co has a “Buy” rating and a $20.00 price target on the stock. FBR & Co also issued estimates for Builders FirstSource’s Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.26 EPS and FY2018 earnings at $1.46 EPS.
Several other research analysts also recently issued reports on BLDR. BidaskClub raised Builders FirstSource from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Wedbush reaffirmed an “outperform” rating and set a $19.00 price objective (up previously from $18.00) on shares of Builders FirstSource in a report on Thursday, March 2nd. Zacks Investment Research downgraded Builders FirstSource from a “hold” rating to a “sell” rating in a report on Wednesday, March 1st. Finally, Citigroup Inc. upped their price objective on Builders FirstSource from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, May 11th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $17.00.
Builders FirstSource (NASDAQ:BLDR) opened at 14.85 on Wednesday. The firm has a market capitalization of $1.67 billion, a PE ratio of 10.38 and a beta of 2.23. The stock’s 50 day moving average price is $14.69 and its 200 day moving average price is $13.54. Builders FirstSource has a 12 month low of $9.04 and a 12 month high of $16.50.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.06. Builders FirstSource had a return on equity of 48.88% and a net margin of 2.54%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the firm earned ($0.13) EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis.
Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its stake in Builders FirstSource by 5.2% in the fourth quarter. State Street Corp now owns 1,448,327 shares of the company’s stock worth $15,886,000 after buying an additional 71,805 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Builders FirstSource by 4.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,947,932 shares of the company’s stock worth $32,340,000 after buying an additional 130,963 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Builders FirstSource during the fourth quarter worth approximately $202,000. Bayesian Capital Management LP purchased a new stake in Builders FirstSource during the fourth quarter worth approximately $189,000. Finally, Employees Retirement System of Texas boosted its stake in Builders FirstSource by 45.3% in the fourth quarter. Employees Retirement System of Texas now owns 154,000 shares of the company’s stock worth $1,689,000 after buying an additional 48,000 shares in the last quarter. Institutional investors own 84.26% of the company’s stock.
In other Builders FirstSource news, insider Morris E. Tolly sold 50,268 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $14.81, for a total transaction of $744,469.08. Following the completion of the sale, the insider now owns 126,205 shares in the company, valued at approximately $1,869,096.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Floyd F. Sherman sold 35,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $14.91, for a total transaction of $521,850.00. Following the sale, the chief executive officer now owns 633,635 shares of the company’s stock, valued at approximately $9,447,497.85. The disclosure for this sale can be found here. Insiders own 14.60% 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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