36,192 Shares in Builders FirstSource, Inc. $BLDR Purchased by Rockbridge Asset Management LLC

Rockbridge Asset Management LLC bought a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 36,192 shares of the company’s stock, valued at approximately $3,238,000. Builders FirstSource accounts for 2.1% of Rockbridge Asset Management LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its position in Builders FirstSource by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 3,460 shares of the company’s stock worth $432,000 after buying an additional 295 shares during the last quarter. Woodline Partners LP raised its stake 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Builders FirstSource by 180.0% in the 2nd 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 holdings in shares of Builders FirstSource by 230.7% during the second quarter. Baird Financial Group Inc. now owns 18,942 shares of the company’s stock valued at $2,210,000 after acquiring an additional 13,215 shares during the period. Finally, Jump Financial LLC lifted its holdings in 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 purchasing an additional 4,264 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Builders FirstSource from $110.00 to $101.00 in a research report on Friday, May 1st. Royal Bank Of Canada decreased their price objective on Builders FirstSource from $107.00 to $88.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. UBS Group lowered their target price on shares of Builders FirstSource from $122.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $66.00 price target on Builders FirstSource in a research report on Friday, July 31st. Finally, Wolfe Research upgraded shares of Builders FirstSource to a “hold” rating in a report on Thursday, May 14th. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $90.35.

Builders FirstSource Stock Up 7.3%

Shares of BLDR opened at $72.53 on Thursday. Builders FirstSource, Inc. has a 52 week low of $65.10 and a 52 week high of $151.03. The firm’s 50-day simple moving average is $76.29 and its 200 day simple moving average is $85.00. 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 firm has a market cap of $7.80 billion, a P/E ratio of 79.71, a price-to-earnings-growth ratio of 2.19 and a beta of 1.44.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share 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 business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the firm earned $2.38 EPS. Builders FirstSource’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, analysts forecast that Builders FirstSource, Inc. will post 3.15 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has authorized a stock repurchase program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Builders FirstSource 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.