Wells Fargo & Company Issues Pessimistic Forecast for Builders FirstSource (NYSE:BLDR) Stock Price

Builders FirstSource (NYSE:BLDR) had its price objective dropped by analysts at Wells Fargo & Company from $120.00 to $87.00 in a research note issued to investors on Wednesday,MarketScreener reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 10.33% from the stock’s previous close.

Several other research firms also recently commented on BLDR. William Blair assumed coverage on shares of Builders FirstSource in a research note on Thursday, February 26th. They issued an “outperform” rating on the stock. Weiss Ratings downgraded shares of Builders FirstSource from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Builders FirstSource from $117.00 to $102.00 and set a “hold” rating on the stock in a report on Monday, February 23rd. BMO Capital Markets dropped their price target on shares of Builders FirstSource from $123.00 to $120.00 and set a “market perform” rating for the company in a research report on Friday, February 20th. Finally, Royal Bank Of Canada upgraded Builders FirstSource from a “sector perform” rating to an “outperform” rating and set a $119.00 price target for the company in a research note on Thursday, March 5th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Builders FirstSource presently has an average rating of “Hold” and a consensus target price of $124.39.

Builders FirstSource Stock Performance

NYSE:BLDR opened at $78.85 on Wednesday. The stock has a 50 day simple moving average of $99.98 and a 200 day simple moving average of $109.18. The stock has a market cap of $8.72 billion, a P/E ratio of 20.32, a PEG ratio of 1.91 and a beta of 1.63. Builders FirstSource has a 1-year low of $76.50 and a 1-year high of $151.03. The company has a current ratio of 1.86, a quick ratio of 1.16 and a debt-to-equity ratio of 1.02.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.18). Builders FirstSource had a net margin of 2.87% and a return on equity of 17.89%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.46 billion. During the same period in the prior year, the company earned $2.31 earnings per share. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. Research analysts anticipate that Builders FirstSource will post 11.59 earnings per share for the current year.

Insider Activity

In other news, Director Paul S. Levy acquired 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average cost of $87.73 per share, with a total value of $4,386,500.00. Following the completion of the purchase, the director directly owned 1,727,191 shares of the company’s stock, valued at $151,526,466.43. The trade was a 2.98% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Hedge funds and other institutional investors have recently modified their holdings of the business. Tran Capital Management L.P. grew its holdings in Builders FirstSource by 2,930.4% during the 3rd quarter. Tran Capital Management L.P. now owns 102,154 shares of the company’s stock worth $12,386,000 after acquiring an additional 98,783 shares during the last quarter. Strs Ohio boosted its stake in Builders FirstSource by 24.0% during the third quarter. Strs Ohio now owns 118,594 shares of the company’s stock worth $14,380,000 after acquiring an additional 22,926 shares in the last quarter. Candriam S.C.A. grew its holdings in Builders FirstSource by 28.9% in the third quarter. Candriam S.C.A. now owns 53,085 shares of the company’s stock worth $6,437,000 after purchasing an additional 11,891 shares during the period. Fieldview Capital Management LLC bought a new position in shares of Builders FirstSource during the 3rd quarter worth about $2,944,000. Finally, Moody Lynn & Lieberson LLC acquired a new stake in shares of Builders FirstSource in the 3rd quarter valued at about $8,925,000. Institutional investors own 95.53% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.