2024-04-01 10:54:07 ET
Summary
- The stock of Builders FirstSource, Inc. has more than tripled in the past two years as the company has bought back more than 40% of its shares since August of 2021.
- However, the company is facing a challenging environment given tepid housing starts and free cash flow this year should be one third its level of FY2022.
- Why it might be time to take profits on this building materials concern is highlighted in the paragraphs below.
Today, we take a look at Builders FirstSource, Inc. ( BLDR ) . Despite some of the challenges in the housing sector with the huge rise in mortgage rates over the past two years, the stock of this building materials concern has thrived lately. As you can see below, the shares have doubled since their lows of late October....
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For further details see:
Builders FirstSource: Results Powered By Stock Repurchases (Rating Downgrade)