Builders FirstSource, Inc. $BLDR Shares Purchased by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Builders FirstSource stake by 16.1% in the third quarter, adding 613,087 shares to reach 4.41 million shares, or about 4.1% of the company.
• Builders FirstSource reported quarterly EPS of $1.51, beating the $1.06 consensus estimate, and revenue of $3.85 billion, above forecasts; revenue nevertheless declined 2.2% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $75.55. The article also reported the stock was down 4.7%.

Pictet Asset Management Holding SA raised its position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,414,163 shares of the company's stock after buying an additional 613,087 shares during the quarter. Pictet Asset Management Holding SA owned about 4.10% of Builders FirstSource worth $251,651,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Clark Wealth Partners bought a new stake in shares of Builders FirstSource during the 3rd quarter worth approximately $27,000. PFS Partners LLC acquired a new stake in shares of Builders FirstSource during the 3rd quarter worth approximately $28,000. Sunbelt Securities Inc. increased its stake in Builders FirstSource by 508.5% in the first quarter. Sunbelt Securities Inc. now owns 359 shares of the company's stock valued at $30,000 after acquiring an additional 300 shares during the last quarter. Sunrise Financial Services LLC bought a new position in Builders FirstSource in the third quarter valued at approximately $32,000. Finally, Barrett & Company Inc. bought a new position in Builders FirstSource in the third quarter valued at approximately $33,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Trading Down 4.7%

BLDR opened at $62.42 on Friday. The company's 50 day moving average is $58.94 and its 200-day moving average is $79.21. Builders FirstSource, Inc. has a 1-year low of $49.67 and a 1-year high of $131.50. The company has a current ratio of 1.85, a quick ratio of 1.14 and a debt-to-equity ratio of 1.13. The company has a market cap of $6.72 billion, a P/E ratio of 168.72, a PEG ratio of 1.74 and a beta of 1.41.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.45. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.75 billion. Builders FirstSource had a net margin of 0.28% and a return on equity of 10.77%. The firm's revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 EPS. Equities research analysts predict that Builders FirstSource, Inc. will post 3.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Benchmark lowered their price objective on shares of Builders FirstSource from $105.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Builders FirstSource in a report on Monday, October 19th. The Goldman Sachs Group reiterated a "buy" rating and issued a $78.00 price target on shares of Builders FirstSource in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft set a $66.00 price target on Builders FirstSource in a report on Friday, July 31st. Finally, KeyCorp lowered their price target on Builders FirstSource from $91.00 to $80.00 and set an "overweight" rating for the company in a report on Friday, October 30th. Seven equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $75.55.

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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