Moran Wealth Management LLC Grows Stock Position in Builders FirstSource, Inc. $BLDR

Moran Wealth Management LLC grew its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 28.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,511 shares of the company’s stock after buying an additional 15,268 shares during the period. Moran Wealth Management LLC owned 0.06% of Builders FirstSource worth $5,723,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its holdings in Builders FirstSource by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company’s stock valued at $432,000 after purchasing an additional 295 shares during the last quarter. Woodline Partners LP raised its position in shares of Builders FirstSource by 40.7% in the first quarter. Woodline Partners LP now owns 9,723 shares of the company’s stock valued at $1,215,000 after purchasing an additional 2,812 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Builders FirstSource by 180.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,582 shares of the company’s stock valued at $185,000 after purchasing an additional 1,017 shares during the period. Baird Financial Group Inc. lifted its stake in shares of Builders FirstSource by 230.7% during the 2nd quarter. Baird Financial Group Inc. now owns 18,942 shares of the company’s stock valued at $2,210,000 after buying an additional 13,215 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Builders FirstSource by 144.1% during the 2nd quarter. Jump Financial LLC now owns 7,223 shares of the company’s stock valued at $843,000 after buying an additional 4,264 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BLDR. Wells Fargo & Company cut their price target on Builders FirstSource from $87.00 to $85.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Barclays dropped their price objective on Builders FirstSource from $114.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, May 1st. Zacks Research downgraded Builders FirstSource from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft reduced their target price on Builders FirstSource from $102.00 to $81.00 and set a “hold” rating for the company in a report on Monday, May 4th. Finally, UBS Group lowered their price target on shares of Builders FirstSource from $143.00 to $122.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $101.88.

Builders FirstSource Trading Down 0.1%

NYSE BLDR opened at $84.61 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The stock’s 50-day simple moving average is $78.64 and its two-hundred day simple moving average is $94.39. Builders FirstSource, Inc. has a twelve month low of $65.10 and a twelve month high of $151.03. The company has a market capitalization of $9.10 billion, a price-to-earnings ratio of 32.42, a PEG ratio of 2.03 and a beta of 1.42.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.12). Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.17 billion. During the same period last year, the company posted $1.51 EPS. Builders FirstSource’s revenue for the quarter was down 10.1% on a year-over-year basis. Research analysts forecast that Builders FirstSource, Inc. will post 4.26 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has initiated a share buyback plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Builders FirstSource Company 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.