Builders FirstSource (NASDAQ:BLDR) Shares Gap Up to $21.54

Builders FirstSource, Inc. (NASDAQ:BLDR) gapped up prior to trading on Wednesday . The stock had previously closed at $21.07, but opened at $21.54. Builders FirstSource shares last traded at $22.44, with a volume of 2,296,057 shares.

A number of equities analysts have weighed in on BLDR shares. ValuEngine downgraded shares of Builders FirstSource from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Stephens raised shares of Builders FirstSource from an “equal” rating to an “overweight” rating and boosted their target price for the stock from $21.00 to $28.00 in a research note on Wednesday. Buckingham Research boosted their target price on shares of Builders FirstSource from $17.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. DA Davidson boosted their target price on shares of Builders FirstSource to $21.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, BidaskClub downgraded shares of Builders FirstSource from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $18.27.

The company has a debt-to-equity ratio of 2.02, a current ratio of 1.69 and a quick ratio of 0.96. The firm has a market capitalization of $2.62 billion, a P/E ratio of 12.14 and a beta of 1.88. The stock’s 50 day moving average is $20.21 and its two-hundred day moving average is $17.13.

Builders FirstSource (NASDAQ:BLDR) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.15. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.91 billion. Builders FirstSource had a net margin of 3.05% and a return on equity of 39.63%. Builders FirstSource’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. As a group, equities research analysts expect that Builders FirstSource, Inc. will post 1.85 EPS for the current year.

In related news, SVP Donald F. Mcaleenan sold 125,408 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $18.88, for a total transaction of $2,367,703.04. Following the completion of the sale, the senior vice president now directly owns 152,773 shares of the company’s stock, valued at $2,884,354.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Peter M. Jackson sold 4,328 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $20.20, for a total transaction of $87,425.60. Following the sale, the chief financial officer now directly owns 53,096 shares of the company’s stock, valued at $1,072,539.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 219,744 shares of company stock valued at $4,258,449. 2.20% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bowling Portfolio Management LLC acquired a new position in Builders FirstSource during the third quarter valued at approximately $1,239,000. Macquarie Group Ltd. acquired a new position in Builders FirstSource during the second quarter valued at approximately $314,000. River & Mercantile Asset Management LLP acquired a new position in Builders FirstSource during the second quarter valued at approximately $1,816,000. Intrinsic Edge Capital Management LLC acquired a new position in Builders FirstSource during the second quarter valued at approximately $7,157,000. Finally, HM Payson & Co. acquired a new position in Builders FirstSource during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 87.29% of the company’s stock.

Builders FirstSource Company Profile (NASDAQ:BLDR)

Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand name.

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