Atreides Management LP Sells 184,997 Shares of Builders FirstSource, Inc. $BLDR

Atreides Management LP lessened its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 57.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,154 shares of the company’s stock after selling 184,997 shares during the period. Atreides Management LP’s holdings in Builders FirstSource were worth $16,630,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bridgefront Capital LLC bought a new position in Builders FirstSource in the 3rd quarter worth $408,000. Bank of America Corp DE boosted its stake in shares of Builders FirstSource by 16.8% during the 3rd quarter. Bank of America Corp DE now owns 698,794 shares of the company’s stock valued at $84,729,000 after purchasing an additional 100,659 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Builders FirstSource by 9.7% during the 3rd quarter. Bank of Nova Scotia now owns 12,770 shares of the company’s stock valued at $1,548,000 after purchasing an additional 1,128 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Builders FirstSource during the third quarter valued at about $2,518,000. Finally, Creative Planning raised its stake in Builders FirstSource by 5.3% in the third quarter. Creative Planning now owns 21,975 shares of the company’s stock worth $2,665,000 after buying an additional 1,107 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Price Performance

BLDR stock opened at $88.10 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.16 and a current ratio of 1.86. The firm has a 50 day moving average price of $112.89 and a 200-day moving average price of $116.08. Builders FirstSource, Inc. has a 52-week low of $86.18 and a 52-week high of $151.03. The firm has a market capitalization of $9.74 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 2.13 and a beta of 1.56.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.18). Builders FirstSource had a return on equity of 17.89% and a net margin of 2.87%.The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter in the previous year, the company earned $2.31 EPS. The business’s quarterly revenue was down 12.1% on a year-over-year basis. Equities research analysts forecast that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on BLDR shares. Zacks Research lowered shares of Builders FirstSource from a “hold” rating to a “strong sell” rating in a report on Thursday, February 19th. Weiss Ratings reissued a “hold (c-)” rating on shares of Builders FirstSource in a research report on Wednesday, January 21st. Royal Bank Of Canada upgraded Builders FirstSource from a “sector perform” rating to an “outperform” rating and set a $119.00 target price for the company in a research note on Thursday, March 5th. Barclays dropped their price target on Builders FirstSource from $136.00 to $124.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Finally, BMO Capital Markets reduced their price target on Builders FirstSource from $123.00 to $120.00 and set a “market perform” rating on the stock in a research note on Friday, February 20th. Ten analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $127.81.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.