In a report released today, Alex Rygiel from B.Riley FBR reiterated a Buy rating on Builders Firstsource (BLDR), with a price target of $19. The company’s shares closed yesterday at $16.80.
Rygiel commented:
“the close, Builders FirstSource, Inc. (BLDR) announced 2Q19 results that exceeded our and consensus expectations. BLDR has executed well during difficult times while commodity prices for lumber have fluctuated significantly and new home sales in late 2018 dipped into a mini-recession for a short period. Driving this success has been management’s intense focus on growth, profitability, and cash flow. See our 6/18/19 note: Reiterate Buy. BLDR remains one of our favorite plays on homebuilding and we believe it is poised for re-accelerating growth and meaningful multiple expansion. We reiterate our Buy rating, noting that our estimates and price target are under review for positive revisions.”
According to TipRanks.com, Rygiel is a 4-star analyst with an average return of 5.8% and a 56.1% success rate. Rygiel covers the Basic Materials sector, focusing on stocks such as Granite Construction Inc, Tutor Perini Corp, and Quanta Services.
Currently, the analyst consensus on Builders Firstsource is a Moderate Buy with an average price target of $17.
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Based on Builders Firstsource’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $35.71 million. In comparison, last year the company had a net profit of $56.62 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock.
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Builers FirstSource, Inc. engages in the supply and manufacture of building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers. It operates through the following segments: Northeast, Southeast, South, and West.
