JT Stratford LLC Boosts Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

JT Stratford LLC grew its position in Builders FirstSource, Inc. (NYSE:BLDR) by 66.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,064 shares of the company’s stock after acquiring an additional 3,613 shares during the period. JT Stratford LLC’s holdings in Builders FirstSource were worth $1,296,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Builders FirstSource in the 4th quarter worth about $33,000. SBI Securities Co. Ltd. acquired a new position in shares of Builders FirstSource during the 4th quarter valued at about $34,000. Avion Wealth lifted its holdings in shares of Builders FirstSource by 728.6% during the 4th quarter. Avion Wealth now owns 348 shares of the company’s stock worth $49,000 after acquiring an additional 306 shares during the period. Mather Group LLC. lifted its holdings in shares of Builders FirstSource by 91.2% during the 4th quarter. Mather Group LLC. now owns 497 shares of the company’s stock worth $71,000 after acquiring an additional 237 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Builders FirstSource by 34.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock worth $74,000 after acquiring an additional 134 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Loop Capital cut their target price on Builders FirstSource from $190.00 to $170.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. BMO Capital Markets reduced their price objective on Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating on the stock in a research note on Monday, May 5th. Barclays dropped their target price on shares of Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Builders FirstSource in a research report on Tuesday, April 1st. They set a “buy” rating and a $151.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $132.00 price objective on shares of Builders FirstSource in a research report on Thursday, May 15th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Builders FirstSource presently has an average rating of “Moderate Buy” and a consensus price target of $167.58.

Builders FirstSource Stock Down 5.3%

BLDR stock opened at $108.54 on Thursday. The stock has a market capitalization of $12.00 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.80 and a beta of 1.79. Builders FirstSource, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $203.14. The business has a 50-day moving average of $119.89 and a 200-day moving average of $145.35. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.77 and a quick ratio of 1.16.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, May 1st. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the previous year, the business earned $2.65 earnings per share. Builders FirstSource’s quarterly revenue was down 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has approved a stock repurchase plan on Thursday, May 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.