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Builders Firstsource to Transfer Listing to NYSE; Street Sees 51% upside potential

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Building materials maker Builders Firstsource (BLDR) plans to transfer the listing of its common stock to the New York Stock Exchange (NYSE) from the Nasdaq Stock Market. The Dallas-based company manufactures and supplies prefabricated components and building products.

Builders Firstsource expects to start trading on the NYSE from July 19, under the ticker symbol BLDR. (See Builders Firstsource stock chart on TipRanks)

The President and CEO of Builders FirstSource, Dave Flitman, said, “The NYSE has a long and established history of listing some of the most respected brands in the world, and as we continue to grow our business, we are excited to be affiliated with this flagship institution.”

BTIG analyst Ryan Gilbert recently maintained a Buy rating on the stock with a price target of $59 (40% upside potential). The analyst expects the company to record earnings per share (EPS) of $0.84 in the third quarter.

Overall, the stock has a Strong Buy consensus rating based on 10 Buys. The average Builders Firstsource price target of $63.70 implies 51.1% upside potential. The company’s shares have gained 112.6% over the past year.

According to TipRanks’ Smart Score rating system, Brookfield scores a 9 out of 10, suggesting that the stock is likely to outperform market averages.

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The post Builders Firstsource to Transfer Listing to NYSE; Street Sees 51% upside potential appeared first on TipRanks Financial Blog.

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