260,857 Shares of Builders FirstSource, Inc. $BLDR Purchased by Rempart Asset Management Inc.

Key Points

• Rempart Asset Management acquired 260,857 Builders FirstSource shares worth approximately $14.9 million, representing about 0.24% of the company and 2.6% of the fund’s portfolio.
• Institutional ownership remains high at 95.53%, with several other hedge funds also initiating or increasing positions during the third quarter.
• Analysts have lowered several price targets, and the stock carries a consensus “Hold” rating with an $82.25 target price. Builders FirstSource recently missed quarterly earnings and revenue estimates, with revenue declining 8.8% year over year.

Rempart Asset Management Inc. bought a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 260,857 shares of the company's stock, valued at approximately $14,871,000. Builders FirstSource makes up approximately 2.6% of Rempart Asset Management Inc.'s investment portfolio, making the stock its 17th largest position. Rempart Asset Management Inc. owned about 0.24% of Builders FirstSource as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Prentice Wealth Management LLC acquired a new position in shares of Builders FirstSource during the third quarter valued at approximately $504,000. Commonwealth Financial Services LLC lifted its position in shares of Builders FirstSource by 9.9% in the third quarter. Commonwealth Financial Services LLC now owns 5,274 shares of the company's stock valued at $301,000 after acquiring an additional 473 shares in the last quarter. Lazari Capital Management Inc. acquired a new stake in shares of Builders FirstSource in the third quarter worth approximately $1,054,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Builders FirstSource in the third quarter worth approximately $1,051,000. Finally, Ballast Inc. acquired a new stake in shares of Builders FirstSource in the third quarter worth approximately $248,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analysts Set New Price Targets

BLDR has been the subject of several recent research reports. Truist Financial reduced their price objective on Builders FirstSource from $90.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday, October 8th. Deutsche Bank Aktiengesellschaft set a $66.00 price objective on Builders FirstSource in a report on Friday, July 31st. Royal Bank Of Canada lowered their target price on shares of Builders FirstSource from $107.00 to $88.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Barclays lowered their target price on shares of Builders FirstSource from $93.00 to $81.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Finally, UBS Group set a $85.00 target price on shares of Builders FirstSource in a report on Thursday, October 1st. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Builders FirstSource presently has an average rating of "Hold" and a consensus target price of $82.25.

Builders FirstSource Trading Up 1.7%

BLDR opened at $53.87 on Wednesday. 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 company's 50 day simple moving average is $61.29 and its two-hundred day simple moving average is $72.24. Builders FirstSource, Inc. has a 1-year low of $49.67 and a 1-year high of $131.50. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 59.20, a price-to-earnings-growth ratio of 1.73 and a beta of 1.45.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its earnings results 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). The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%. The company's revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.38 earnings per share. Analysts expect that Builders FirstSource, Inc. will post 3.13 EPS for the current fiscal year.

Builders FirstSource 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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