Builders FirstSource, Inc. (NASDAQ:BLDR) – Research analysts at B. Riley increased their FY2018 earnings estimates for shares of Builders FirstSource in a research note issued to investors on Wednesday. B. Riley analyst A. Rygiel now expects that the company will earn $1.76 per share for the year, up from their previous forecast of $1.45. B. Riley has a “Buy” rating and a $24.00 price target on the stock.
A number of other equities analysts have also weighed in on BLDR. Wedbush restated a “buy” rating and issued a $20.00 price objective on shares of Builders FirstSource in a report on Thursday, September 7th. Zacks Investment Research lowered shares of Builders FirstSource from a “hold” rating to a “sell” rating in a report on Monday, October 9th. Citigroup boosted their price objective on shares of Builders FirstSource from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, November 10th. Barclays boosted their price objective on shares of Builders FirstSource from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, November 10th. Finally, SunTrust Banks restated a “buy” rating and issued a $20.00 price objective on shares of Builders FirstSource in a report on Friday, November 10th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.75.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Builders FirstSource had a return on equity of 33.66% and a net margin of 1.29%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the previous year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new stake in Builders FirstSource during the 3rd quarter valued at $110,000. SG Americas Securities LLC purchased a new stake in Builders FirstSource during the 2nd quarter valued at $114,000. Ameritas Investment Partners Inc. raised its stake in Builders FirstSource by 17.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock valued at $130,000 after buying an additional 1,253 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Builders FirstSource by 10,237.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,580 shares of the company’s stock valued at $131,000 after buying an additional 8,497 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in Builders FirstSource during the 3rd quarter valued at $147,000. Institutional investors and hedge funds own 94.48% of the company’s stock.
In other Builders FirstSource news, CEO Floyd F. Sherman sold 40,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $19.43, for a total transaction of $777,200.00. Following the completion of the sale, the chief executive officer now directly owns 623,635 shares in the company, valued at approximately $12,117,228.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Donald F. Mcaleenan sold 166,714 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $18.16, for a total transaction of $3,027,526.24. Following the sale, the senior vice president now owns 179,805 shares of the company’s stock, valued at $3,265,258.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 377,598 shares of company stock valued at $6,950,025. 14.60% of the stock is owned by company insiders.
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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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