Q3 2017 EPS Estimates for Builders FirstSource, Inc. (BLDR) Reduced by Analyst

Builders FirstSource, Inc. (NASDAQ:BLDR) – Wedbush decreased their Q3 2017 earnings per share estimates for Builders FirstSource in a report released on Monday. Wedbush analyst J. Mccanless now expects that the company will post earnings of $0.42 per share for the quarter, down from their previous estimate of $0.43. Wedbush currently has a “Outperform” rating and a $20.00 price target on the stock. Wedbush also issued estimates for Builders FirstSource’s Q2 2018 earnings at $0.49 EPS, Q3 2018 earnings at $0.52 EPS and FY2018 earnings at $1.45 EPS.

Other research analysts have also issued reports about the stock. BidaskClub raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. FBR & Co reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Builders FirstSource in a research note on Tuesday, June 27th. Zacks Investment Research raised shares of Builders FirstSource from a “sell” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Wednesday, May 10th. Deutsche Bank AG raised their price objective on shares of Builders FirstSource from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup Inc. raised their price objective on shares of Builders FirstSource from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, May 11th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.29.

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Builders FirstSource (NASDAQ BLDR) opened at 16.53 on Wednesday. Builders FirstSource has a 52 week low of $9.04 and a 52 week high of $17.22. The firm’s 50-day moving average is $15.63 and its 200-day moving average is $14.54. The company has a market cap of $1.86 billion, a PE ratio of 11.55 and a beta of 2.16.

Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Builders FirstSource had a net margin of 2.60% and a return on equity of 43.83%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share.

In related news, CEO Floyd F. Sherman sold 35,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $14.91, for a total transaction of $521,850.00. Following the transaction, the chief executive officer now directly owns 633,635 shares of the company’s stock, valued at $9,447,497.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in Builders FirstSource during the first quarter worth $108,000. SG Americas Securities LLC purchased a new position in Builders FirstSource during the second quarter worth $114,000. Invictus RG purchased a new position in Builders FirstSource during the first quarter worth $140,000. Envestnet Asset Management Inc. raised its position in Builders FirstSource by 68.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,511 shares of the company’s stock worth $143,000 after buying an additional 3,861 shares during the last quarter. Finally, Nine Chapters Capital Management LLC purchased a new position in Builders FirstSource during the first quarter worth $150,000. 84.81% 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.

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

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