Salem Investment Counselors Inc. Buys 13,404 Shares of Builders FirstSource, Inc. $BLDR

Salem Investment Counselors Inc. boosted its stake in Builders FirstSource, Inc. (NYSE:BLDR) by 1,165.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 14,554 shares of the company’s stock after buying an additional 13,404 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Builders FirstSource were worth $830,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ulland Investment Advisors LLC purchased a new position in shares of Builders FirstSource during the 3rd quarter worth approximately $78,000. Signal Advisors Wealth LLC bought a new position in shares of Builders FirstSource in the 3rd quarter worth approximately $3,108,000. 4WEALTH Advisors Inc. bought a new position in shares of Builders FirstSource in the 3rd quarter worth approximately $179,000. BigSur Wealth Management LLC bought a new position in shares of Builders FirstSource in the 3rd quarter worth approximately $388,000. Finally, Foster Group Inc. purchased a new position in shares of Builders FirstSource in the 3rd quarter valued at approximately $2,939,000. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Trading Down 2.4%

NYSE:BLDR opened at $50.46 on Thursday. Builders FirstSource, Inc. has a one year low of $49.67 and a one year high of $131.50. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. The company’s 50-day simple moving average is $62.87 and its 200 day simple moving average is $73.00. The firm has a market capitalization of $5.43 billion, a P/E ratio of 55.45, a PEG ratio of 1.66 and a beta of 1.45.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the company posted $2.38 EPS. Builders FirstSource’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, analysts forecast that Builders FirstSource, Inc. will post 3.19 EPS for the current fiscal year.

Analysts Set New Price Targets

BLDR has been the topic of several research reports. Truist Financial dropped their price target on Builders FirstSource from $90.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $80.00 price target on shares of Builders FirstSource in a research note on Thursday, August 6th. Robert W. Baird set a $75.00 price objective on Builders FirstSource in a report on Friday, July 31st. Wells Fargo & Company decreased their price objective on Builders FirstSource from $65.00 to $63.00 and set an “equal weight” rating for the company in a report on Friday, September 11th. Finally, Citigroup reissued a “market perform” rating on shares of Builders FirstSource in a research report on Thursday, October 8th. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $84.50.

Builders FirstSource 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.