Builders FirstSource (BLDR) Coverage Initiated at Evercore ISI

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Evercore ISI assumed coverage on shares of Builders FirstSource (NASDAQ:BLDR) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set an “in-line” rating and a $20.00 price target on the stock. Evercore ISI’s price target indicates a potential upside of 11.73% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Tuesday, May 15th. Stifel Nicolaus reiterated a “buy” rating on shares of Builders FirstSource in a research note on Friday, March 2nd. ValuEngine lowered shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. BidaskClub upgraded shares of Builders FirstSource from a “sell” rating to a “hold” rating in a research note on Saturday, April 7th. Finally, MKM Partners initiated coverage on shares of Builders FirstSource in a research note on Wednesday. They set a “neutral” rating and a $20.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $22.88.

Shares of BLDR traded down $0.23 during mid-day trading on Thursday, hitting $17.90. The company’s stock had a trading volume of 15,527 shares, compared to its average volume of 933,617. Builders FirstSource has a 52-week low of $14.39 and a 52-week high of $23.28. The stock has a market capitalization of $2.17 billion, a PE ratio of 14.13 and a beta of 2.06. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.15 and a current ratio of 2.09.

Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Wednesday, May 9th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.08. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.69 billion. Builders FirstSource had a net margin of 0.81% and a return on equity of 41.83%. The company’s revenue was up 10.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 EPS. equities research analysts forecast that Builders FirstSource will post 1.87 EPS for the current year.

In other Builders FirstSource news, Director Floyd F. Sherman sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $20.21, for a total transaction of $1,010,500.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brett N. Milgrim sold 34,930 shares of the company’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $19.57, for a total transaction of $683,580.10. Following the transaction, the director now owns 60,265 shares in the company, valued at approximately $1,179,386.05. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Builders FirstSource by 22.1% during the 4th quarter. BlackRock Inc. now owns 8,812,200 shares of the company’s stock valued at $192,018,000 after purchasing an additional 1,594,755 shares in the last quarter. Carillon Tower Advisers Inc. increased its stake in Builders FirstSource by 1.9% during the 1st quarter. Carillon Tower Advisers Inc. now owns 3,393,907 shares of the company’s stock valued at $63,635,000 after purchasing an additional 63,950 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Builders FirstSource by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,376,833 shares of the company’s stock valued at $66,996,000 after purchasing an additional 31,109 shares in the last quarter. Hennessy Advisors Inc. increased its stake in shares of Builders FirstSource by 3.9% in the first quarter. Hennessy Advisors Inc. now owns 1,800,500 shares of the company’s stock worth $35,722,000 after acquiring an additional 67,100 shares during the period. Finally, Lakewood Capital Management LP acquired a new stake in shares of Builders FirstSource in the fourth quarter worth $37,241,000. Institutional investors and hedge funds own 93.26% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. Its products include lumber and lumber sheet goods comprising dimensional lumber, plywood, and OSB products that are used in on-site house framing; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand.

Analyst Recommendations for Builders FirstSource (NASDAQ:BLDR)

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