Stifel cuts Builders FirstSource stock rating, lowers price target

Published 29/04/2025, 07:36
Stifel cuts Builders FirstSource stock rating, lowers price target

On Tuesday, Stifel analysts revised their outlook on Builders FirstSource (NYSE:BLDR), downgrading the stock from Buy to Hold and adjusting the price target to $125 from the previous $156. The move reflects a cautious stance towards the company’s near-term prospects in the residential construction sector. Trading at a P/E ratio of 13.3x, InvestingPro analysis suggests the stock is currently slightly undervalued, with analysts maintaining an overall bullish consensus despite this downgrade.

Builders FirstSource, known for its building materials and services, is recognized by Stifel analysts for its strong position to benefit from the current housing undersupply. With an InvestingPro Financial Health Score of 2.67 (rated GOOD) and strong liquidity metrics, the company maintains a solid foundation to strengthen its market leadership. Nevertheless, they express concern that the market may not fully recognize the extent and persistence of the current downturn, particularly as the first quarter of 2025 update is not expected to dispel the prevailing uncertainty affecting the stock’s performance.

The analysts point out that Liberation Day has exacerbated the headwinds faced by residential construction, leading to increased risks for Builders FirstSource’s revenue. This is especially true given the weakening single-family home volumes and the growing divide in the strength of large versus small home builders.

While acknowledging the possibility of mergers and acquisitions (M&A) as a variable that could alter their neutral perspective, Stifel analysts suggest that such transformative deals, as well as potential buyout opportunities, may not be enough to counterbalance the current uncertainties. They predict that the stock is likely to experience lateral movement in the market due to challenges in projecting a robust acceleration for the fiscal years 2026 and 2027.

In their analysis, Stifel highlights the difficulties in gaining confidence in the company’s growth forecast, given the challenges faced by the industry and the company’s specific circumstances. Builders FirstSource’s stock is thus expected to navigate through a period of ambiguity, with investors likely to adopt a watchful approach until clearer signs of stability emerge.

In other recent news, Builders FirstSource has seen several adjustments in its stock evaluations and projections. Loop Capital reduced its price target for the company to $170 from $190 while maintaining a Buy rating, citing a cautious outlook on residential demand recovery and deflation in value-added categories. Despite these challenges, the company may benefit from anticipated Canadian lumber tariffs, which could support a price rebound in truss. DA Davidson also adjusted its price target for Builders FirstSource to $147 from $157, maintaining a Neutral rating. The firm noted a sluggish near-term demand but acknowledged the company’s efforts in digital innovation and market share defense.

BMO Capital Markets lowered its price target to $168 from $175, expressing concerns about the housing market environment and potential pricing competition. However, BMO highlighted Builders FirstSource’s strong balance sheet and management team as positive factors. Loop Capital previously revised its target to $190 from $205 after the company’s earnings report showed a decline in sales but higher-than-expected gross margins. Builders FirstSource’s full-year 2025 adjusted EBITDA guidance ranges from $1.9 billion to $2.3 billion, with sales guidance between $16.5 billion and $17.5 billion. These recent developments reflect the company’s strategic positioning amid fluctuating market conditions and competitive pressures.

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