Rockbridge Asset Management LLC Buys New Position in Builders FirstSource, Inc. $BLDR

Rockbridge Asset Management LLC purchased a new position in Builders FirstSource, Inc. (NYSE:BLDR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,192 shares of the company’s stock, valued at approximately $3,238,000. Builders FirstSource accounts for approximately 2.1% of Rockbridge Asset Management LLC’s investment portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company’s stock valued at $26,000 after buying an additional 132 shares during the last quarter. Sunbelt Securities Inc. raised its position in Builders FirstSource by 508.5% in the first quarter. Sunbelt Securities Inc. now owns 359 shares of the company’s stock worth $30,000 after acquiring an additional 300 shares during the period. Root Financial Partners LLC lifted its stake in Builders FirstSource by 43.6% in the first quarter. Root Financial Partners LLC now owns 372 shares of the company’s stock valued at $31,000 after purchasing an additional 113 shares during the last quarter. Transamerica Financial Advisors LLC lifted its position in shares of Builders FirstSource by 90.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company’s stock valued at $38,000 after buying an additional 175 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in Builders FirstSource during the second quarter valued at about $38,000. Institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Performance

Shares of BLDR stock opened at $72.53 on Thursday. Builders FirstSource, Inc. has a 12 month low of $65.10 and a 12 month high of $151.03. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The company’s fifty day moving average price is $76.29 and its 200-day moving average price is $85.00. The stock has a market cap of $7.80 billion, a PE ratio of 79.71, a price-to-earnings-growth ratio of 2.19 and a beta of 1.44.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The company’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.38 earnings per share. On average, equities analysts expect that Builders FirstSource, Inc. will post 3.15 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a share repurchase program on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

BLDR has been the subject of several analyst reports. Loop Capital cut their target price on Builders FirstSource from $140.00 to $110.00 in a research note on Friday, May 1st. Benchmark cut their target price on shares of Builders FirstSource from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Zacks Research cut shares of Builders FirstSource from a “hold” rating to a “strong sell” rating in a research report on Monday, August 3rd. Truist Financial reduced their price objective on Builders FirstSource from $115.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Raymond James Financial decreased their target price on shares of Builders FirstSource from $140.00 to $100.00 in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Builders FirstSource presently has an average rating of “Hold” and a consensus price target of $90.35.

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.