B. Riley Increases Builders FirstSource, Inc. (BLDR) Price Target to $24.00

Builders FirstSource, Inc. (NASDAQ:BLDR) had its price target upped by B. Riley from $20.00 to $24.00 in a research report report published on Friday, MarketBeat reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Builders FirstSource’s Q4 2017 earnings at $0.18 EPS and FY2017 earnings at $1.05 EPS.

Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of Builders FirstSource from a hold rating to a sell rating in a report on Monday, October 9th. BidaskClub upgraded shares of Builders FirstSource from a hold rating to a buy rating in a report on Wednesday, July 19th. Wedbush restated a buy rating and issued a $20.00 price objective on shares of Builders FirstSource in a report on Thursday, September 7th. Finally, Deutsche Bank AG raised their price objective on shares of Builders FirstSource from $17.00 to $19.00 and gave the stock a buy rating in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $19.50.

Builders FirstSource (NASDAQ BLDR) traded down $0.50 during midday trading on Friday, hitting $17.96. The company had a trading volume of 1,662,800 shares, compared to its average volume of 1,198,959. The company has a quick ratio of 1.06, a current ratio of 1.86 and a debt-to-equity ratio of 4.46. The company has a market capitalization of $2,084.90, a PE ratio of 17.92 and a beta of 2.14. Builders FirstSource has a 12 month low of $10.13 and a 12 month high of $18.82.

Builders FirstSource (NASDAQ:BLDR) last posted its earnings results on Wednesday, November 8th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Builders FirstSource had a return on equity of 33.66% and a net margin of 1.29%. Builders FirstSource’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. equities analysts anticipate that Builders FirstSource will post 1.04 EPS for the current year.

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In other news, Director Cleveland A. Christophe sold 36,000 shares of Builders FirstSource stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $16.66, for a total transaction of $599,760.00. Following the completion of the transaction, the director now directly owns 48,181 shares in the company, valued at $802,695.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert C. Griffin sold 17,655 shares of Builders FirstSource stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $16.83, for a total transaction of $297,133.65. Following the transaction, the director now owns 40,050 shares of the company’s stock, valued at $674,041.50. The disclosure for this sale can be found here. Insiders have sold 13,645,368 shares of company stock valued at $220,735,138 over the last quarter. Company insiders own 14.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Builders FirstSource during the second quarter valued at approximately $114,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Builders FirstSource by 17.3% during the second quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock valued at $130,000 after purchasing an additional 1,253 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Builders FirstSource by 10,237.3% during 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 during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Builders FirstSource during the third quarter valued at approximately $147,000. Finally, Wilen Investment Management CORP. purchased a new position in shares of Builders FirstSource during the second quarter valued at approximately $150,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Builders FirstSource Company Profile

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.

Analyst Recommendations for Builders FirstSource (NASDAQ:BLDR)

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