Q2 2017 EPS Estimates for Builders FirstSource, Inc. (BLDR) Cut by Analyst

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.

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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.

Earnings History and Estimates for Builders FirstSource (NASDAQ:BLDR)

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