Howard Capital Management LLC Makes New $1.34 Million Investment in Builders FirstSource, Inc. $BLDR

Howard Capital Management LLC purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,582 shares of the company’s stock, valued at approximately $1,344,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Wealth Advisors Inc. acquired a new stake in shares of Builders FirstSource during the third quarter worth $334,000. Goelzer Investment Management Inc. acquired a new position in Builders FirstSource in the third quarter valued at about $5,851,000. Chemistry Wealth Management LLC acquired a new position in Builders FirstSource in the third quarter valued at about $1,006,000. Annex Advisory Services LLC acquired a new position in Builders FirstSource in the third quarter valued at about $500,000. Finally, Cantor Fitzgerald Investment Advisors L.P. bought a new position in Builders FirstSource during the third quarter worth about $14,823,000. 95.53% of the stock is currently owned by institutional investors.

Builders FirstSource Price Performance

NYSE BLDR opened at $54.74 on Friday. The business has a 50 day simple moving average of $62.10 and a 200 day simple moving average of $72.68. Builders FirstSource, Inc. has a 52-week low of $49.67 and a 52-week high of $131.50. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 60.15, a PEG ratio of 1.79 and a beta of 1.45.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the business posted $2.38 earnings per share. The business’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts anticipate that Builders FirstSource, Inc. will post 3.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BLDR has been the subject of several analyst reports. Oppenheimer decreased their target price on Builders FirstSource from $90.00 to $78.00 and set an “outperform” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft set a $66.00 price target on Builders FirstSource in a research note on Friday, July 31st. Citizens Jmp began coverage on shares of Builders FirstSource in a research report on Friday, August 21st. They issued a “market perform” rating on the stock. Robert W. Baird set a $75.00 price objective on shares of Builders FirstSource in a research note on Friday, July 31st. Finally, Zacks Research raised shares of Builders FirstSource from a “strong sell” rating to a “hold” rating in a research note on Friday, October 2nd. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.54.

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.