Integrated Advisors Network LLC Trims Position in Builders FirstSource, Inc. (NYSE:BLDR)

Integrated Advisors Network LLC cut its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 61.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,640 shares of the company’s stock after selling 2,623 shares during the period. Integrated Advisors Network LLC’s holdings in Builders FirstSource were worth $318,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Builders FirstSource in the second quarter worth $27,000. Armstrong Advisory Group Inc. purchased a new stake in Builders FirstSource in the third quarter worth $30,000. ORG Partners LLC purchased a new stake in Builders FirstSource in the first quarter worth $33,000. First Horizon Advisors Inc. grew its stake in Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after purchasing an additional 75 shares during the period. Finally, New Millennium Group LLC purchased a new stake in Builders FirstSource in the second quarter worth $38,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. The Goldman Sachs Group assumed coverage on Builders FirstSource in a report on Thursday, October 10th. They issued a “buy” rating and a $225.00 target price on the stock. Bank of America boosted their target price on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada dropped their target price on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a report on Tuesday, August 6th. Finally, B. Riley dropped their target price on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.35.

Insider Transactions at Builders FirstSource

In other news, Director Craig Arthur Steinke sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now owns 95,333 shares of the company’s stock, valued at $14,650,775.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Builders FirstSource Trading Up 0.4 %

Shares of NYSE:BLDR opened at $172.02 on Friday. The stock has a market capitalization of $20.03 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 10.20 and a beta of 2.06. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The stock’s 50-day simple moving average is $184.65 and its two-hundred day simple moving average is $168.68. Builders FirstSource, Inc. has a 52-week low of $119.99 and a 52-week high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. During the same period last year, the firm posted $3.89 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Analysts expect that Builders FirstSource, Inc. will post 11.69 EPS for the current year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.