Builders FirstSource experienced a dip in stock value despite reporting a Q1 Earnings beat and reaffirming its 2024 guidance. There was an unusual options activity surrounding the company, with shares slipping as much as 17%. However, the company maintains a 'Buy' recommendation from Truist Securities and an 'Overweight' recommendation from Barclays. Despite multifamily factors causing disappointing Q1 results, analysts still gave the company an average price target of $199.79. There was notable insider selling with
Los Angeles Capital Management LLC,
Savant Capital LLC and the
Swiss National Bank reducing their positions. A rival company announced a $1 billion stock buyback after
Builders FirstSource announced its earnings. Despite temporary setbacks, $492,000 investments by
First Trust Direct Indexing L.P. and $35.58 million holdings by
Victory Capital Management Inc. affirm faith in the company's financial strength. The company's ROE also impresses, and
Builders FirstSource's launches and acquisitions plans assure promising future direction.
Builders Firstsource BLDR News Analytics from Fri, 24 Nov 2023 08:00:00 GMT to Fri, 10 May 2024 12:23:31 GMT -
Rating -2
- Innovation 3
- Information 6
- Rumor 1
