Silvercrest Asset Management Group LLC Purchases New Position in Builders FirstSource, Inc. (NYSE:BLDR)

Silvercrest Asset Management Group LLC acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 61,531 shares of the company's stock, valued at approximately $8,795,000. Silvercrest Asset Management Group LLC owned approximately 0.05% of Builders FirstSource at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BLDR. Royal Bank of Canada increased its holdings in shares of Builders FirstSource by 39.1% during the fourth quarter. Royal Bank of Canada now owns 198,709 shares of the company's stock worth $28,403,000 after buying an additional 55,875 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Builders FirstSource by 18.6% during the fourth quarter. Rafferty Asset Management LLC now owns 45,777 shares of the company's stock worth $6,543,000 after buying an additional 7,180 shares in the last quarter. Raiffeisen Bank International AG acquired a new position in shares of Builders FirstSource during the fourth quarter worth $154,000. Redwood Investment Management LLC acquired a new position in shares of Builders FirstSource during the fourth quarter worth $1,433,000. Finally, Rockbridge Capital Management LLC acquired a new position in shares of Builders FirstSource during the fourth quarter worth $2,445,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BLDR. Benchmark decreased their price objective on Builders FirstSource from $200.00 to $170.00 and set a "buy" rating for the company in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft began coverage on Builders FirstSource in a report on Tuesday, April 1st. They issued a "buy" rating and a $151.00 price objective for the company. Robert W. Baird set a $130.00 price objective on Builders FirstSource in a report on Friday, May 2nd. Stifel Nicolaus decreased their price objective on Builders FirstSource from $125.00 to $118.00 and set a "hold" rating for the company in a report on Monday, May 5th. Finally, BMO Capital Markets decreased their price objective on Builders FirstSource from $146.00 to $135.00 and set a "market perform" rating for the company in a report on Monday, May 5th. Six analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Builders FirstSource has a consensus rating of "Moderate Buy" and an average target price of $167.58.

Builders FirstSource Stock Down 5.3%

Shares of BLDR stock traded down $6.08 on Wednesday, reaching $108.54. 3,102,129 shares of the company were exchanged, compared to its average volume of 1,679,050. Builders FirstSource, Inc. has a one year low of $103.81 and a one year high of $203.14. The company has a market cap of $12.00 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.80 and a beta of 1.79. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.77 and a quick ratio of 1.16. The company has a 50-day moving average of $119.89 and a 200-day moving average of $145.35.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. Builders FirstSource had a net margin of 6.57% and a return on equity of 30.54%. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter last year, the firm earned $2.65 EPS. The firm's revenue for the quarter was down 6.0% compared to the same quarter last year. Analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized a stock buyback plan on Thursday, May 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board 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.