Builders FirstSource Inc rises amid sector rotation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 12 2024
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Should l Buy BLDR?
Source: 4
Builders FirstSource Inc saw a price increase of 5.61% during regular trading, as the stock crossed above its 5-day SMA. This movement occurs amid broader market weakness, with the Nasdaq-100 down 0.77% and the S&P 500 down 0.03%. The stock's rise suggests sector rotation as investors shift their focus towards construction and building materials companies, despite the overall market decline.
The positive movement aligns with a shift in investor sentiment towards sectors that are expected to benefit from ongoing infrastructure spending and housing demand. Builders FirstSource, being a key player in the building materials sector, is likely to attract more attention as these trends continue to unfold.
Investors are encouraged to monitor the stock closely, as further developments in the housing market and infrastructure projects could provide additional support for Builders FirstSource's growth trajectory.
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Analyst Views on BLDR
Wall Street analysts forecast BLDR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BLDR is 124.28 USD with a low forecast of 109.41 USD and a high forecast of 150.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
6 Buy
7 Hold
1 Sell
Moderate Buy
Current: 120.060
Low
109.41
Averages
124.28
High
150.00
Current: 120.060
Low
109.41
Averages
124.28
High
150.00
About BLDR
Builders FirstSource, Inc. is a supplier of building products, prefabricated components, and value-added services to the professional market segment for new residential construction and repair and remodeling. It provides customers with an integrated homebuilding solution, offering manufacturing, supply, delivery and installation of a full range of structural and related building products. Its product categories include Manufactured Products; Windows, Doors and Millwork; Specialty Building Products and Services, and Lumber and Lumber Sheet Goods. It serves customers from distribution and manufacturing facilities (some of which are co-located) that produce value-added products such as roof and floor trusses, wall panels, stairs, vinyl windows, custom millwork and pre-hung doors. It also distributes dimensional lumber and lumber sheet goods, millwork, windows, interior and exterior doors, and other specialty building products. It operates in 43 states with approximately 585 locations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Global Market Synchronization: European and Chinese stock markets rallied in tandem, contributing to gains in the US stock market, reflecting the potential for global economic recovery and further enhancing investor risk appetite.
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