Builders FirstSource, Inc. (NASDAQ:BLDR) to Post Q2 2017 Earnings of $0.33 Per Share, Wedbush Forecasts

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.

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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.

Earnings History and Estimates for Builders FirstSource (NASDAQ:BLDR)

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