AlphaCore Capital LLC Invests $262,000 in Builders FirstSource, Inc. (NYSE:BLDR)

Key Points

• AlphaCore Capital LLC purchased 2,103 shares of Builders FirstSource, Inc. valued at approximately $262,000 during the first quarter, indicating growing investor interest in the company.
• Builders FirstSource announced a $500 million stock buyback program, allowing them to repurchase up to 3.9% of its shares, signaling confidence from the Board of Directors about the stock's undervaluation.
• In its latest earnings report, Builders FirstSource posted $2.38 earnings per share, slightly surpassing analyst expectations but with revenues down 5% year-over-year at $4.23 billion.

AlphaCore Capital LLC acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,103 shares of the company's stock, valued at approximately $262,000.

Several other large investors have also modified their holdings of the company. IMA Advisory Services Inc. purchased a new stake in shares of Builders FirstSource during the first quarter worth approximately $31,000. Sentry Investment Management LLC purchased a new stake in shares of Builders FirstSource during the first quarter worth approximately $40,000. CX Institutional purchased a new stake in shares of Builders FirstSource during the first quarter worth approximately $45,000. Mather Group LLC. raised its stake in shares of Builders FirstSource by 19.7% during the first quarter. Mather Group LLC. now owns 595 shares of the company's stock worth $74,000 after purchasing an additional 98 shares during the last quarter. Finally, New Age Alpha Advisors LLC raised its position in Builders FirstSource by 22.8% in the first quarter. New Age Alpha Advisors LLC now owns 640 shares of the company's stock worth $80,000 after acquiring an additional 119 shares in the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BLDR shares. Barclays cut their price objective on Builders FirstSource from $137.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Oppenheimer set a $155.00 price objective on Builders FirstSource and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Royal Bank Of Canada cut Builders FirstSource from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from $132.00 to $129.00 in a research report on Friday, August 1st. Wall Street Zen cut Builders FirstSource from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $140.00 price objective (down previously from $170.00) on shares of Builders FirstSource in a research report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $154.44.

Builders FirstSource Trading Down 0.9%

NYSE:BLDR traded down $1.24 during mid-day trading on Friday, reaching $136.91. The company's stock had a trading volume of 367,857 shares, compared to its average volume of 1,966,747. The company's fifty day simple moving average is $124.91 and its two-hundred day simple moving average is $127.13. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.79 and a quick ratio of 1.08. Builders FirstSource, Inc. has a twelve month low of $102.60 and a twelve month high of $203.14. The stock has a market cap of $15.14 billion, a P/E ratio of 20.80, a P/E/G ratio of 15.29 and a beta of 1.68.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $2.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.35 by $0.03. Builders FirstSource had a return on equity of 24.61% and a net margin of 4.74%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the company earned $3.50 EPS. The firm's quarterly revenue was down 5.0% on a year-over-year basis. On average, equities analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource declared that its board has approved a share repurchase program on Thursday, May 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at Builders FirstSource

In other news, Director Dirkson R. Charles acquired 5,000 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were bought at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $548,350. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

Builders FirstSource Company Profile

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.