Citizens JMP initiated coverage on Builders FirstSource Inc. with a Market Perform rating. Analyst James McCanless issued the neutral outlook because declining single-family housing starts hinder revenue.
The firm notes that repair and remodel sales remain resilient. McCanless identifies no near-term catalyst to reverse negative single-family construction trends. Multifamily starts show signs of bottoming while leading indicators for single-family permits improve.
Mitsubishi UFJ Asset Management recently initiated a new position by purchasing 136,613 shares. The broader analyst consensus for Builders FirstSource remains a Hold.