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.
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.
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