Builders FirstSource, Inc. (NASDAQ:BLDR) – Stock analysts at B. Riley dropped their Q3 2018 earnings per share estimates for Builders FirstSource in a research report issued to clients and investors on Friday, September 21st. B. Riley analyst A. Rygiel now expects that the company will post earnings per share of $0.58 for the quarter, down from their prior forecast of $0.59. B. Riley also issued estimates for Builders FirstSource’s FY2018 earnings at $1.79 EPS.
BLDR has been the topic of several other research reports. DA Davidson started coverage on Builders FirstSource in a research note on Thursday, September 13th. They issued a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada started coverage on Builders FirstSource in a research note on Wednesday, June 27th. They issued an “outperform” rating on the stock. BidaskClub upgraded Builders FirstSource from a “strong sell” rating to a “sell” rating in a research note on Thursday, September 13th. Deutsche Bank cut their price target on Builders FirstSource from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, August 20th. Finally, Evercore ISI started coverage on Builders FirstSource in a research note on Thursday, June 28th. They issued an “in-line” rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $22.23.
Builders FirstSource (NASDAQ:BLDR) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.02). The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Builders FirstSource had a return on equity of 44.19% and a net margin of 1.03%.
In related news, Director Robert C. Griffin sold 16,756 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $17.15, for a total value of $287,365.40. Following the transaction, the director now directly owns 30,104 shares of the company’s stock, valued at approximately $516,283.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cleveland A. Christophe sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $16.07, for a total value of $482,100.00. Following the completion of the transaction, the director now directly owns 24,991 shares in the company, valued at $401,605.37. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in BLDR. Altshuler Shaham Ltd bought a new position in Builders FirstSource in the 2nd quarter valued at approximately $24,638,000. Millennium Management LLC bought a new position in Builders FirstSource in the 1st quarter valued at approximately $15,212,000. BlackRock Inc. lifted its position in Builders FirstSource by 7.3% in the 2nd quarter. BlackRock Inc. now owns 8,631,344 shares of the company’s stock valued at $157,869,000 after acquiring an additional 585,206 shares in the last quarter. Sei Investments Co. lifted its position in Builders FirstSource by 497.1% in the 2nd quarter. Sei Investments Co. now owns 635,305 shares of the company’s stock valued at $11,621,000 after acquiring an additional 528,913 shares in the last quarter. Finally, Hillcrest Asset Management LLC bought a new position in Builders FirstSource in the 2nd quarter valued at approximately $9,555,000. 93.31% of the stock is currently owned by institutional investors and hedge funds.
About Builders FirstSource
Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. Its products include lumber and lumber sheet goods comprising dimensional lumber, plywood, and OSB products that are used in on-site house framing; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand.
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