Cartenna Capital LP Acquires New Position in Builders FirstSource, Inc. $BLDR

Key Points

• Cartenna Capital LP bought 150,000 shares of Builders FirstSource (NYSE:BLDR) in Q3, a stake worth about $18.19 million and roughly 0.14% of the company.
• Builders FirstSource missed quarterly EPS ($1.12 vs. $1.30 expected) and saw revenue decline 12.1% year-over-year to $3.36 billion; analysts hold a consensus "Hold" with an average price target of $127.81 (10 Buy, 9 Hold, 4 Sell).

Cartenna Capital LP bought a new position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm bought 150,000 shares of the company's stock, valued at approximately $18,188,000. Cartenna Capital LP owned approximately 0.14% of Builders FirstSource as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BLDR. TD Waterhouse Canada Inc. purchased a new position in shares of Builders FirstSource in the third quarter worth $34,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Builders FirstSource during the second quarter valued at $38,000. MUFG Securities EMEA plc acquired a new position in shares of Builders FirstSource in the 2nd quarter valued at $38,000. IMA Advisory Services Inc. increased its position in shares of Builders FirstSource by 40.9% in the 3rd quarter. IMA Advisory Services Inc. now owns 355 shares of the company's stock valued at $43,000 after acquiring an additional 103 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Builders FirstSource in the 3rd quarter worth $44,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BLDR. Wells Fargo & Company lifted their price target on Builders FirstSource from $115.00 to $120.00 and gave the stock a "cautious" rating in a research report on Wednesday, February 11th. BMO Capital Markets reduced their price objective on Builders FirstSource from $123.00 to $120.00 and set a "market perform" rating for the company in a research note on Friday, February 20th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Builders FirstSource in a report on Wednesday, January 21st. Royal Bank Of Canada upgraded Builders FirstSource from a "sector perform" rating to an "outperform" rating and set a $119.00 target price on the stock in a research report on Thursday, March 5th. Finally, Benchmark cut their price target on shares of Builders FirstSource from $142.00 to $138.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Ten equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $127.81.

Builders FirstSource Price Performance

Shares of BLDR opened at $88.10 on Friday. The business's 50-day moving average is $112.89 and its two-hundred day moving average is $116.08. The company has a market capitalization of $9.74 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.13 and a beta of 1.56. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.16 and a current ratio of 1.86. Builders FirstSource, Inc. has a fifty-two week low of $86.18 and a fifty-two week high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported $1.12 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.18). The company had revenue of $3.36 billion for the quarter, compared to analysts' expectations of $3.46 billion. Builders FirstSource had a net margin of 2.87% and a return on equity of 17.89%. The business's quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.31 EPS. Research analysts predict that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource Profile

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company's core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.

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