Builders FirstSource, Inc. (NASDAQ:BLDR) – Stock analysts at Wedbush upped their Q2 2017 earnings estimates for Builders FirstSource in a research report issued on Monday. Wedbush analyst J. Mccanless now forecasts that the company will post earnings of $0.33 per share for the quarter, up from their prior forecast of $0.28. Wedbush has a “Outperform” rating and a $20.00 price target on the stock. Wedbush also issued estimates for Builders FirstSource’s FY2017 earnings at $0.99 EPS and Q2 2018 earnings at $0.47 EPS.
Builders FirstSource (NASDAQ:BLDR) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.49 billion. Builders FirstSource had a net margin of 2.54% and a return on equity of 48.88%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) earnings per share.
A number of other analysts have also commented on BLDR. Zacks Investment Research lowered shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Citigroup Inc. upped their price objective on shares of Builders FirstSource from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, May 11th. BidaskClub raised shares of Builders FirstSource from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, FBR & Co reaffirmed a “buy” rating and set a $20.00 price objective on shares of Builders FirstSource in a research note on Tuesday, June 27th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $17.00.
Builders FirstSource (BLDR) opened at 15.63 on Tuesday. Builders FirstSource has a 52-week low of $9.04 and a 52-week high of $16.50. The stock has a 50 day moving average of $15.47 and a 200-day moving average of $14.37. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 10.92 and a beta of 2.16.
Several hedge funds have recently bought and sold shares of BLDR. Ameritas Investment Partners Inc. bought a new stake in Builders FirstSource during the first quarter worth about $108,000. Invictus RG bought a new stake in Builders FirstSource during the first quarter worth about $140,000. Envestnet Asset Management Inc. raised its stake in Builders FirstSource by 68.3% in the first quarter. Envestnet Asset Management Inc. now owns 9,511 shares of the company’s stock worth $143,000 after buying an additional 3,861 shares during the period. Nine Chapters Capital Management LLC bought a new stake in Builders FirstSource during the first quarter worth about $150,000. Finally, Gargoyle Investment Advisor L.L.C. bought a new stake in Builders FirstSource during the first quarter worth about $177,000. 84.88% of the stock is owned by institutional investors and hedge funds.
In other news, insider Morris E. Tolly sold 50,268 shares of the stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $14.81, for a total value of $744,469.08. Following the completion of the sale, the insider now directly owns 126,205 shares of the company’s stock, valued at $1,869,096.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Floyd F. Sherman sold 35,000 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $14.91, for a total transaction of $521,850.00. Following the completion of the sale, the chief executive officer now directly owns 633,635 shares of the company’s stock, valued at $9,447,497.85. The disclosure for this sale can be found here. 14.60% of the stock is owned by corporate insiders.
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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