Argent Capital Management LLC Reduces Stock Holdings in Builders FirstSource, Inc. $BLDR

Key Points

• Argent Capital Management LLC reduced its stake in Builders FirstSource, Inc. by 14.7% in Q2, now holding 30,190 shares worth approximately $3.52 million.
• Recent analyst ratings have shifted, with Royal Bank of Canada downgrading Builders FirstSource from "outperform" to "sector perform," lowering the target price from $132 to $129.
• Builders FirstSource reported earnings of $2.38 per share for the last quarter, exceeding estimates but showing a 5% revenue decline year-over-year.

Argent Capital Management LLC lowered its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,190 shares of the company's stock after selling 5,202 shares during the quarter. Argent Capital Management LLC's holdings in Builders FirstSource were worth $3,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BLDR. Woodline Partners LP purchased a new stake in shares of Builders FirstSource in the fourth quarter valued at about $988,000. Waverly Advisors LLC purchased a new stake in shares of Builders FirstSource in the fourth quarter valued at about $371,000. GTS Securities LLC grew its holdings in shares of Builders FirstSource by 136.5% in the fourth quarter. GTS Securities LLC now owns 2,577 shares of the company's stock valued at $368,000 after purchasing an additional 9,639 shares during the period. Toronto Dominion Bank boosted its stake in Builders FirstSource by 13.0% during the fourth quarter. Toronto Dominion Bank now owns 44,898 shares of the company's stock worth $6,417,000 after buying an additional 5,170 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Builders FirstSource by 35.2% during the fourth quarter. Mackenzie Financial Corp now owns 14,002 shares of the company's stock worth $2,001,000 after buying an additional 3,647 shares during the period. Hedge funds and other institutional investors own 95.53% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank Of Canada lowered shares of Builders FirstSource from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from $132.00 to $129.00 in a research note on Friday, August 1st. Zelman & Associates reaffirmed an "underperform" rating on shares of Builders FirstSource in a research note on Friday, July 18th. DA Davidson lowered their target price on shares of Builders FirstSource from $135.00 to $125.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Wall Street Zen raised shares of Builders FirstSource from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Stifel Nicolaus increased their target price on shares of Builders FirstSource from $118.00 to $128.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $151.88.

Builders FirstSource Stock Down 1.8%

Shares of NYSE:BLDR opened at $121.90 on Tuesday. The company has a market capitalization of $13.48 billion, a PE ratio of 18.50, a P/E/G ratio of 13.15 and a beta of 1.61. The company has a current ratio of 1.79, a quick ratio of 1.08 and a debt-to-equity ratio of 1.12. Builders FirstSource, Inc. has a twelve month low of $102.60 and a twelve month high of $201.79. The firm has a 50 day simple moving average of $134.99 and a 200-day simple moving average of $124.61.

Builders FirstSource (NYSE:BLDR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.35 by $0.03. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.29 billion. Builders FirstSource had a net margin of 4.74% and a return on equity of 24.61%. The company's revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.50 EPS. Builders FirstSource has set its FY 2025 guidance at EPS. On average, equities analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current fiscal year.

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.

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