22,994 Shares of Builders FirstSource, Inc. $BLDR Acquired by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel acquired 22,994 Builders FirstSource shares worth approximately $1.31 million during the third quarter. Institutional investors collectively own 95.53% of the company, with several other funds also initiating or expanding positions.
• Analysts maintain a generally cautious outlook, with the stock receiving an average “Hold” rating and an average price target of $82.25; recent firms have lowered targets or downgraded their ratings.
• Builders FirstSource opened at $57.49, well below its 52-week high of $131.50. Its latest quarterly results missed expectations, with EPS of $1.17 versus $1.25 expected and revenue declining 8.8% year over year to $3.86 billion.

Carnegie Investment Counsel acquired a new position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 22,994 shares of the company's stock, valued at approximately $1,311,000.

Other hedge funds have also recently bought and sold shares of the company. Pinnacle Associates Ltd. bought a new position in Builders FirstSource in the 3rd quarter worth approximately $9,895,000. Cohen Investment Advisors LLC acquired a new stake in Builders FirstSource in the 3rd quarter valued at approximately $3,015,000. Ironwood Financial llc acquired a new stake in Builders FirstSource in the 3rd quarter valued at approximately $169,000. Uncommon Cents Investing Inc bought a new stake in Builders FirstSource during the 3rd quarter valued at $6,294,000. Finally, Nisa Investment Advisors LLC raised its stake in Builders FirstSource by 40,460.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 732,529 shares of the company's stock valued at $41,761,000 after acquiring an additional 730,723 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BLDR. Citizens Jmp started coverage on Builders FirstSource in a research report on Friday, August 21st. They set a "market perform" rating for the company. Wells Fargo & Company lowered their price target on Builders FirstSource from $63.00 to $55.00 and set an "equal weight" rating on the stock in a report on Friday, October 16th. William Blair cut shares of Builders FirstSource from an "outperform" rating to a "market perform" rating in a research note on Thursday. KeyCorp reduced their price objective on shares of Builders FirstSource from $100.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, July 13th. Finally, DA Davidson set a $68.00 price objective on shares of Builders FirstSource in a report on Friday, July 31st. Eight analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $82.25.

Builders FirstSource Stock Performance

BLDR opened at $57.49 on Friday. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 63.18, a price-to-earnings-growth ratio of 1.76 and a beta of 1.45. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. Builders FirstSource, Inc. has a 1-year low of $49.67 and a 1-year high of $131.50. The business has a 50 day moving average price of $60.60 and a two-hundred day moving average price of $71.91.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.17 earnings per share (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 firm 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 firm's revenue for the quarter was down 8.8% compared to the same quarter last year. Research analysts predict that Builders FirstSource, Inc. will post 3.10 EPS for the current fiscal year.

Builders FirstSource Company Profile

Builders FirstSource, Inc is a supplier of building materials, manufactured components and construction services for professional homebuilders, remodelers and other construction customers in the United States. The company provides products used throughout the residential construction process, from structural framing to interior and exterior finishes.

Its offerings include lumber and engineered wood products, roof and floor trusses, wall panels, prefabricated components, windows, doors, millwork, cabinets, roofing, siding, insulation, gypsum and related hardware.

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