Zacks Investment Research downgraded shares of Builders FirstSource, Inc. (NASDAQ:BLDR) from a hold rating to a sell rating in a research note released on Monday morning.
According to Zacks, “Builders FirstSource is a leading supplier and manufacturer of structural and related building products for residential new construction in the United States. Manufacturing facilities include plants that manufacture roof and floor trusses, wall panels, stairs, aluminum and vinyl windows, custom millwork and pre-hung doors. Builders FirstSource also distributes windows, interior and exterior doors, dimensional lumber and lumber sheet goods, millwork and other building products. “
BLDR has been the subject of several other reports. Wedbush reissued a buy rating and set a $20.00 price objective on shares of Builders FirstSource in a research note on Thursday, September 7th. BidaskClub lowered Builders FirstSource from a buy rating to a hold rating in a research note on Monday, July 31st. Deutsche Bank AG raised their price objective on Builders FirstSource from $17.00 to $19.00 and gave the stock a buy rating in a research note on Wednesday, August 9th. Finally, FBR & Co reissued a buy rating and set a $20.00 price objective on shares of Builders FirstSource in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Builders FirstSource currently has an average rating of Hold and an average target price of $17.33.
Builders FirstSource (BLDR) traded down 0.368% during trading on Monday, hitting $17.615. The stock had a trading volume of 66,455 shares. The firm has a market cap of $1.98 billion, a price-to-earnings ratio of 11.658 and a beta of 2.09. The stock’s 50-day moving average is $16.87 and its 200 day moving average is $15.64. Builders FirstSource has a one year low of $9.04 and a one year high of $18.23.
Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.03. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.83 billion. Builders FirstSource had a return on equity of 43.83% and a net margin of 2.60%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company posted $0.31 EPS. Equities analysts anticipate that Builders FirstSource will post $1.11 earnings per share for the current year.
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In other news, Director Cleveland A. Christophe sold 36,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $16.66, for a total value of $599,760.00. Following the completion of the sale, the director now owns 48,181 shares in the company, valued at $802,695.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Griffin sold 17,655 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $16.83, for a total value of $297,133.65. Following the completion of the sale, the director now owns 40,050 shares of the company’s stock, valued at approximately $674,041.50. The disclosure for this sale can be found here. Insiders sold 13,645,368 shares of company stock valued at $220,735,138 in the last 90 days. Corporate insiders own 14.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Builders FirstSource in the first quarter valued at $108,000. SG Americas Securities LLC purchased a new stake in shares of Builders FirstSource in the second quarter valued at $114,000. PNC Financial Services Group Inc. lifted its holdings in shares of Builders FirstSource by 10,237.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,580 shares of the company’s stock valued at $131,000 after purchasing an additional 8,497 shares in the last quarter. Invictus RG purchased a new stake in shares of Builders FirstSource in the first quarter valued at $140,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Builders FirstSource by 68.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,511 shares of the company’s stock valued at $143,000 after purchasing an additional 3,861 shares in the last quarter. Institutional investors own 85.46% 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.
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