Littlejohn & Co. LLC Takes Position in Builders FirstSource, Inc. $BLDR

Key Points

• Littlejohn & Co. LLC acquired 170,671 shares of Builders FirstSource during the second quarter, valued at approximately $15.3 million and representing about 0.16% of the company. Institutional investors collectively own 95.53% of BLDR.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $90.35, compared with the stock’s reported price of $67.74.
• Builders FirstSource missed quarterly earnings and revenue expectations, reporting $1.17 in EPS and $3.86 billion in revenue, while revenue declined 8.8% year over year. The board has also authorized a $500 million share-repurchase program.

Littlejohn & Co. LLC acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 170,671 shares of the company's stock, valued at approximately $15,271,641. Builders FirstSource comprises about 0.0% of Littlejohn & Co. LLC's holdings, making the stock its 2nd largest position. Littlejohn & Co. LLC owned approximately 0.16% of Builders FirstSource as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BLDR. BlackRock Inc. bought a new position in shares of Builders FirstSource in the 2nd quarter valued at approximately $700,934,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Builders FirstSource by 99,084.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,241,561 shares of the company's stock worth $230,634,000 after acquiring an additional 2,239,301 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Builders FirstSource during the 2nd quarter valued at $134,908,000. Norges Bank bought a new stake in Builders FirstSource in the 4th quarter worth $109,269,000. Finally, Bank of America Corp DE bought a new stake in shares of Builders FirstSource in the 2nd quarter worth $83,832,000. Institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BLDR shares. DA Davidson set a $68.00 price objective on Builders FirstSource in a research note on Friday, July 31st. Jefferies Financial Group lowered their price objective on shares of Builders FirstSource from $85.00 to $80.00 and set a "hold" rating on the stock in a research note on Monday, May 4th. Zacks Research lowered shares of Builders FirstSource from a "hold" rating to a "strong sell" rating in a research report on Monday, August 3rd. Benchmark decreased their price objective 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, Royal Bank Of Canada cut their target price on Builders FirstSource from $107.00 to $88.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $90.35.

Builders FirstSource Price Performance

Shares of NYSE BLDR traded up $0.53 during trading on Friday, hitting $67.74. 1,652,009 shares of the company were exchanged, compared to its average volume of 2,384,594. Builders FirstSource, Inc. has a 1 year low of $65.10 and a 1 year high of $151.03. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 74.44, a PEG ratio of 2.23 and a beta of 1.44. 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 firm's fifty day moving average price is $75.22 and its 200 day moving average price is $82.90.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released 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 net margin of 0.71% and a return on equity of 11.73%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the company earned $2.38 earnings per share. The firm's revenue for the quarter was down 8.8% on a year-over-year basis. On average, sell-side analysts expect that Builders FirstSource, Inc. will post 3.15 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has approved a stock repurchase plan on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy up to 5.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

About Builders FirstSource

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.

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