JB Capital Partners LP Buys New Stake in Builders FirstSource, Inc. $BLDR

JB Capital Partners LP purchased a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 292,265 shares of the company’s stock, valued at approximately $26,151,872,000. Builders FirstSource accounts for 4.0% of JB Capital Partners LP’s investment portfolio, making the stock its 7th biggest position.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP purchased a new stake in shares of Builders FirstSource during the 2nd quarter worth about $42,000. Silvant Capital Management LLC acquired a new stake in Builders FirstSource in the second quarter valued at approximately $3,145,000. Vise Technologies Inc. acquired a new position in Builders FirstSource during the second quarter worth $1,918,000. Tocqueville Asset Management L.P. purchased a new position in Builders FirstSource in the 2nd quarter valued at about $20,186,000. Finally, Denali Advisors LLC acquired a new stake in shares of Builders FirstSource in the second quarter worth approximately $225,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wells Fargo & Company cut their price target on Builders FirstSource from $85.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Truist Financial decreased their price target 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. Royal Bank Of Canada lowered their price objective on shares of Builders FirstSource from $107.00 to $88.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Oppenheimer decreased their price objective on shares of Builders FirstSource from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Finally, DA Davidson set a $68.00 price target on shares of Builders FirstSource in a research note on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.35.

Builders FirstSource Price Performance

Shares of NYSE:BLDR opened at $70.02 on Friday. The company has a 50-day moving average price of $75.97 and a 200 day moving average price of $84.59. Builders FirstSource, Inc. has a 52 week low of $65.10 and a 52 week high of $151.03. The company has a market cap of $7.53 billion, a P/E ratio of 76.95, a PEG ratio of 2.28 and a beta of 1.44. The company has a quick ratio of 1.09, a current ratio of 1.79 and a debt-to-equity ratio of 1.14.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.08). The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.38 earnings per share. Research analysts predict that Builders FirstSource, Inc. will post 3.15 earnings per share for the current year.

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

Builders FirstSource Profile

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.