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 issue of debt has a 5.625% coupon and is set to mature on September 1, 2024. The bonds in the issue are now trading at $103.50 and were trading at $102.38 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
A number of equities analysts have recently weighed in on BLDR shares. Zacks Investment Research downgraded shares of Builders FirstSource from a “hold” rating to a “sell” rating in a research note on Tuesday, January 24th. Wedbush reissued an “outperform” rating and set a $19.00 target price (up from $18.00) on shares of Builders FirstSource in a research report on Thursday, March 2nd. FBR & Co reissued an “outperform” rating and set a $20.00 target price (up from $15.00) on shares of Builders FirstSource in a research report on Friday, March 10th. Finally, Citigroup Inc increased their target price on shares of Builders FirstSource from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, May 11th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $17.00.
Shares of Builders FirstSource, Inc. (NASDAQ:BLDR) opened at 14.22 on Friday. The firm’s 50-day moving average is $15.20 and its 200-day moving average is $12.89. Builders FirstSource, Inc. has a 12-month low of $9.04 and a 12-month high of $16.50. The company has a market capitalization of $1.60 billion, a PE ratio of 9.94 and a beta of 2.30.
Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings data on Monday, May 8th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. Builders FirstSource had a net margin of 2.03% and a return on equity of 49.20%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm earned ($0.13) earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Builders FirstSource, Inc. will post $1.09 EPS for the current fiscal year.
In related news, SVP Morris E. Tolly sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $14.84, for a total transaction of $742,000.00. Following the transaction, the senior vice president now directly owns 226,473 shares of the company’s stock, valued at $3,360,859.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Levy sold 10,000,000 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $14.51, for a total transaction of $145,100,000.00. The disclosure for this sale can be found here. Insiders sold 10,293,684 shares of company stock worth $149,505,344 over the last ninety days. Insiders own 36.20% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Builders FirstSource by 68,569.7% in the first quarter. BlackRock Inc. now owns 6,349,196 shares of the company’s stock worth $94,602,000 after buying an additional 6,339,950 shares during the last quarter. Vanguard Group Inc. raised its position in Builders FirstSource by 21.7% in the first quarter. Vanguard Group Inc. now owns 5,914,387 shares of the company’s stock worth $88,124,000 after buying an additional 1,053,799 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. raised its position in Builders FirstSource by 25.0% in the fourth quarter. Ruane Cunniff & Goldfarb Inc. now owns 5,007,377 shares of the company’s stock worth $54,931,000 after buying an additional 1,000,000 shares during the last quarter. Stelliam Investment Management LP raised its position in Builders FirstSource by 82.4% in the fourth quarter. Stelliam Investment Management LP now owns 3,325,000 shares of the company’s stock worth $36,475,000 after buying an additional 1,502,500 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Builders FirstSource by 2.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,019,193 shares of the company’s stock worth $44,986,000 after buying an additional 71,261 shares during the last quarter. 80.91% of the stock is currently owned by institutional investors.
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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