Builders FirstSource, Inc. (BLDR) Forecasted to Earn FY2017 Earnings of $1.05 Per Share

Builders FirstSource, Inc. (NASDAQ:BLDR) – Equities researchers at B. Riley lowered their FY2017 earnings estimates for shares of Builders FirstSource in a report issued on Friday. B. Riley analyst A. Rygiel now anticipates that the company will post earnings per share of $1.05 for the year, down from their previous estimate of $1.13. B. Riley has a “Buy” rating and a $24.00 price target on the stock. B. Riley also issued estimates for Builders FirstSource’s Q4 2017 earnings at $0.18 EPS.

Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Wedbush restated a “buy” rating and set a $20.00 target price on shares of Builders FirstSource in a report on Thursday, September 7th. Deutsche Bank AG upped their target price on Builders FirstSource from $17.00 to $19.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. SunTrust Banks, Inc. restated a “buy” rating and set a $20.00 target price on shares of Builders FirstSource in a report on Friday, November 10th. Finally, Barclays PLC upped their target price on Builders FirstSource from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $19.50.

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Builders FirstSource (NASDAQ:BLDR) opened at $18.27 on Monday. The company has a debt-to-equity ratio of 4.46, a quick ratio of 1.06 and a current ratio of 1.86. The company has a market capitalization of $2,060.00, a P/E ratio of 17.44 and a beta of 2.14. Builders FirstSource has a twelve month low of $10.13 and a twelve month high of $18.82.

Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLDR. Cubist Systematic Strategies LLC purchased a new stake in shares of Builders FirstSource in the third quarter worth $110,000. SG Americas Securities LLC purchased a new stake in shares of Builders FirstSource in the second quarter worth $114,000. Ameritas Investment Partners Inc. grew its stake in shares of Builders FirstSource by 17.3% in the second quarter. Ameritas Investment Partners Inc. now owns 8,495 shares of the company’s stock worth $130,000 after acquiring an additional 1,253 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Builders FirstSource by 10,237.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,580 shares of the company’s stock worth $131,000 after acquiring an additional 8,497 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Builders FirstSource in the third quarter worth $147,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Floyd F. Sherman sold 109,536 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $16.72, for a total value of $1,831,441.92. Following the sale, the chief executive officer now directly owns 773,171 shares of the company’s stock, valued at $12,927,419.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Cleveland A. Christophe sold 36,000 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $16.66, for a total value of $599,760.00. Following the completion of the sale, the director now directly owns 48,181 shares in the company, valued at $802,695.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,645,368 shares of company stock worth $220,735,138. 14.60% of the stock is owned by 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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