Builders FirstSource launches offering of $300M of senior notes » 08:5901/1901/19/22
Builders FirstSource announced that it has launched an offering of $300 million aggregate principal amount of its 4.250% Senior Notes due 2032. The Notes will form part of the same series as the $1 billion aggregate principal amount of 4.250% Senior Notes due 2032 issued on July 23, 2021. The Company intends to use the net proceeds from the offering to repay a portion of the indebtedness outstanding under its senior secured ABL facility and to pay related transaction fees and expenses.
|Over a week ago|
Builders FirstSource price target raised to $100 from $93 at DA Davidson » 08:3401/0601/06/22
DA Davidson analyst Kurt…
DA Davidson analyst Kurt Yinger raised the firm's price target on Builders FirstSource to $100 from $93 and keeps a Buy rating on the shares. The analyst cites the company's completed acquisition of National Lumber, which adds to its "already leading national scale". The deal also highlights National Lumber's value-added offerings and "remove and replace mix", both of which fit well with Builders' stated acquisition strategy, Yinger adds.
Builders FirstSource completes acquisition of National Lumber » 07:0501/0501/05/22
Builders FirstSource announced that it has acquired National Lumber, the largest independent building materials supplier in New England. National Lumber operates 19 facilities and employs more than 700 people across Massachusetts, Connecticut and Rhode Island, with a diverse mix of products and end markets. National Lumber sales are expected to be approximately $440M in 2021. National Lumber President Manny Pina, along with other key members of senior leadership, will continue their tenures managing local operations following the acquisition.
Builders FirstSource price target raised to $103 from $77 at Baird » 06:4012/2112/21/21
Baird analyst David…
Baird analyst David Manthey raised the firm's price target on Builders FirstSource to $103 from $77 and keeps an Outperform rating on the shares. The analyst believes investors will afford the shares a higher valuation over time, based on national coverage/scale leadership/value-added service offering and trajectory to low-teens EBITDA margins. Longer term, he believes the stock could double to around $150.
|Over a month ago|
Builders FirstSource director Sherman sells 38,000 common shares » 19:5412/1512/15/21
In a regulatory filing,…
In a regulatory filing, Builders FirstSource director Floyd Sherman disclosed the sale of 38,000 common shares of the company on December 10 at a price of $78.85 per share.
Builders FirstSource price target raised to $103 from $98 at Barclays » 06:5612/1512/15/21
Barclays analyst Matthew…
Barclays analyst Matthew Bouley raised the firm's price target on Builders FirstSource to $103 from $98 and keeps an Overweight rating on the shares. The analyst thinks homebuilder valuations "remain compelling" in the backdrop of a "healthy" environment for affordable new construction. He remains "relatively more positive" on homebuilders versus building products entering 2022.
Builders FirstSource price target raised to $97 from $80 at BTIG » 07:2312/1312/13/21
BTIG analyst Ryan Gilbert…
BTIG analyst Ryan Gilbert raised the firm's price target on Builders FirstSource to $97 from $80 and keeps a Buy rating on the shares. The company's analyst day presentation suggests that it intends to continue leveraging its post-merger market share and product position to drive outsized revenue growth by cross-selling margin-accretive value-add products, the analyst tells investors in a research note. Gilbert adds that while declines in single family starts in Q4 and Q1 could be a near-term headwind, but he also believes that Builders' increased visibility into revenue growth, the medium-term sustainability of its EBITDA margin, and a balanced capital allocation strategy that includes $5B buyback warrant a higher multiple.
Builders FirstSource targets 2021-2025 net sales CAGR of 10% » 09:1112/0912/09/21
As part of its Analyst…
As part of its Analyst Day presentation earlier this week, the company targets 2021-2025 adjusted EBITDA CAGR of about 15%, EPS CAGR of about 30% and annual adjusted EBITDA margin expansion of about 50bps. Reference Link
Builders FirstSource price target raised to $93 from $74 at B. Riley » 09:1012/0912/09/21
B. Riley analyst Alex…
B. Riley analyst Alex Rygiel raised the firm's price target on Builders FirstSource to $93 from $74 and reiterates a Buy rating on the shares following the investor event. Almost a year into the merger with BMC, synergy targets are ahead of schedule and were raised by $20M, to $160M by the end of 2022, Rygiel tells investors in a research note. The analyst believes Builders FirstSource's "scale, geographic reach, breadth of products with a focus on value-added components, customer relationships with the top homebuilders, innovative culture, and strong cash flow generation, position the company for continued market share gains and solid returns to shareholders."
Builders FirstSource price target raised to $93 from $82 at DA Davidson » 09:0812/0912/09/21
DA Davidson analyst Kurt…
DA Davidson analyst Kurt Yinger raised the firm's price target on Builders FirstSource to $93 from $82 and keeps a Buy rating on the shares. The company's investor day presentation was highlighted by "attractive" new multi-year financial targets, increased clarity on capital allocation priorities, expectations for continued market outperformance, and more details on its digital strategy, the analyst tells investors in a research note. Yinger is also raising his FY22 EPS view on Builders FirstSource to $7.39 from $6.79.