Wedbush Starts Builders FirstSource (BLDR) at Outperform

September 7, 2016 6:58 AM EDT
Get Alerts BLDR Hot Sheet
Price: $11.29 -0.44%

Rating Summary:
    11 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 13 | Down: 22 | New: 54
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Wedbush initiates coverage on Builders FirstSource (NASDAQ: BLDR) with a Outperform rating and a price target of $18.00.

Analyst Al Kaschalk commented, "Exposure to a recovering single-family housing (SFH) market, lowered cost structure and an incremental operating margin in the 11-12% range should lead to significant improvement in operating profit for Builders FirstSource (BLDR) over the mid-term. With growth in operating profit, lowering overall debt levels a priority for management and refinancing certain high-yield notes, we expect Net debt/EBITDA leverage ratio to drop below 3.5x by mid-CY18, helping to uncork value to equity shareholders."

For an analyst ratings summary and ratings history on Builders FirstSource click here. For more ratings news on Builders FirstSource click here.

Shares of Builders FirstSource closed at $13.33 yesterday.

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