Builders FirstSource (NYSE:BLDR) Reaches New 1-Year Low – Here’s What Happened

Builders FirstSource, Inc. (NYSE:BLDR) hit a new 52-week low on Wednesday. The stock traded as low as $53.50 and last traded at $53.4880, with a volume of 166035 shares changing hands. The stock had previously closed at $56.22.

Analyst Ratings Changes

BLDR has been the subject of several research reports. Zacks Research upgraded Builders FirstSource from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Truist Financial reduced their price objective on Builders FirstSource from $115.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $66.00 target price on Builders FirstSource in a research report on Friday, July 31st. Benchmark reduced their price target 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. Finally, Melius Research assumed coverage on shares of Builders FirstSource in a research note on Tuesday. They set a “sell” rating and a $52.00 price target for the company. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Builders FirstSource currently has a consensus rating of “Hold” and an average target price of $85.45.

Builders FirstSource Price Performance

The firm has a market cap of $5.75 billion, a P/E ratio of 58.80, a P/E/G ratio of 1.78 and a beta of 1.45. The company has a fifty day moving average of $65.06 and a 200-day moving average of $74.31. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). The firm had revenue of $3.86 billion for 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%.Builders FirstSource’s revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.38 earnings per share. On average, sell-side analysts anticipate that Builders FirstSource, Inc. will post 3.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Builders FirstSource

A number of hedge funds and other institutional investors have recently modified their holdings of BLDR. Versant Capital Management Inc grew its holdings in shares of Builders FirstSource by 67.5% in the third quarter. Versant Capital Management Inc now owns 670 shares of the company’s stock valued at $38,000 after acquiring an additional 270 shares in the last quarter. Anchor Investment Management LLC grew its stake in Builders FirstSource by 93.3% in the 2nd quarter. Anchor Investment Management LLC now owns 725 shares of the company’s stock valued at $65,000 after purchasing an additional 350 shares during the period. Cidel Asset Management Inc. grew its stake in Builders FirstSource by 23.9% in the 2nd quarter. Cidel Asset Management Inc. now owns 3,519 shares of the company’s stock valued at $315,000 after purchasing an additional 678 shares during the period. Baird Financial Group Inc. increased its position in shares of Builders FirstSource by 16.9% during the 2nd quarter. Baird Financial Group Inc. now owns 23,947 shares of the company’s stock valued at $2,143,000 after purchasing an additional 3,459 shares during the last quarter. Finally, GoodHaven Capital Management LLC raised its stake in shares of Builders FirstSource by 23.4% during the 2nd quarter. GoodHaven Capital Management LLC now owns 228,760 shares of the company’s stock worth $20,469,000 after purchasing an additional 43,330 shares during the period. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Company Profile

Builders FirstSource, Inc (NYSE: BLDR) is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction professionals in the United States. The company serves customers through a network of locations across the country and supports both residential and selected commercial construction projects.

Its product offerings include lumber and other structural materials, engineered wood products, windows, interior and exterior doors, roofing, siding, cabinets, flooring and related building supplies.