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BofA Securities Upgrades Builders Firstsource Inc (BLDR) to a Buy from a Neutral

Builders Firstsource Inc’s recently made public that its Director Boydston Cory Jacobs unloaded Company’s shares for reported $1.95 million on Mar 13 ’24. In the deal valued at $200.02 per share,9,741 shares were sold. As a result of this transaction, Boydston Cory Jacobs now holds 18,997 shares worth roughly $3.56 million.

Then, Boydston Cory Jacobs sold 7,759 shares, generating $1,551,800 in total proceeds. Upon selling the shares at $200.00, the Director now owns 28,738 shares.

Before that, FARMER MICHAEL ALAN sold 3,318 shares. Builders Firstsource Inc shares valued at $483,234 were divested by the President – Commercial Ops at a price of $145.64 per share. As a result of the transaction, FARMER MICHAEL ALAN now holds 60,660 shares, worth roughly $11.37 million.

BofA Securities upgraded its Builders Firstsource Inc [BLDR] rating to a Buy from a a Neutral in a research note published on January 29, 2024; the price target was increased to $200 from $153. A number of analysts have revised their coverage, including Oppenheimer’s analysts, who began to cover the stock in mid January with a ‘”an Outperform”‘ rating. Truist also remained covering BLDR and has decreased its forecast on January 04, 2024 with a “Hold” recommendation from previously “Buy” rating. B. Riley Securities revised its rating on December 06, 2023. It rated BLDR as “a Buy” which previously was an “a Neutral”.

Price Performance Review of BLDR

On Monday, Builders Firstsource Inc [NYSE:BLDR] saw its stock fall -0.11% to $187.46. Over the last five days, the stock has gained 5.19%. Builders Firstsource Inc shares have risen nearly 12.29% since the year began. Nevertheless, the stocks have risen 103.54% over the past one year. While a 52-week high of $214.70 was reached on 03/21/24, a 52-week low of $90.35 was recorded on 01/05/24. SMA at 50 days reached $194.81, while 200 days put it at $156.24. A total of 0.9 million shares were traded, compared to the trading of 1.18 million shares in the previous session.

Levels Of Support And Resistance For BLDR Stock

The 24-hour chart illustrates a support level at 185.23, which if violated will result in even more drops to 183.00. On the upside, there is a resistance level at 190.27. A further resistance level may holdings at 193.08. The Relative Strength Index (RSI) on the 14-day chart is 46.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.24, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 32.83%. Stochastics %K at 49.11% indicates the stock is a holding.

The most recent change occurred on December 01, 2023 when BofA Securities began covering the stock and recommended ‘”a Neutral”‘ rating along with a $143 price target.

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