Comerica Bank Acquires 17,879 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Comerica Bank's holdings in Builders FirstSource, Inc. increased by 61.9% during the 1st quarter, bringing their total stake to approximately $5.84 million with 46,763 shares owned.
• Builders FirstSource recently reported earnings of $2.38 per share, beating analysts' estimates, although revenue for the quarter declined by 5% year-over-year.
• The company announced a $500 million share buyback program, indicating the board's belief that the stock is undervalued, while institutional investors hold over 95% of the company's shares.

Comerica Bank raised its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 61.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,763 shares of the company's stock after purchasing an additional 17,879 shares during the period. Comerica Bank's holdings in Builders FirstSource were worth $5,842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Freedom Investment Management Inc. grew its stake in shares of Builders FirstSource by 21.6% in the first quarter. Freedom Investment Management Inc. now owns 6,461 shares of the company's stock valued at $807,000 after acquiring an additional 1,149 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Builders FirstSource by 21.0% in the first quarter. Smartleaf Asset Management LLC now owns 627 shares of the company's stock valued at $78,000 after acquiring an additional 109 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Builders FirstSource by 160.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,358 shares of the company's stock valued at $170,000 after acquiring an additional 836 shares in the last quarter. Allstate Corp grew its stake in shares of Builders FirstSource by 82.9% in the first quarter. Allstate Corp now owns 6,183 shares of the company's stock valued at $773,000 after acquiring an additional 2,803 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in shares of Builders FirstSource by 5.8% in the first quarter. 1832 Asset Management L.P. now owns 102,635 shares of the company's stock valued at $12,823,000 after acquiring an additional 5,633 shares in the last quarter. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on BLDR. Royal Bank Of Canada downgraded shares of Builders FirstSource from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $132.00 to $129.00 in a research note on Friday, August 1st. Oppenheimer set a $155.00 price target on shares of Builders FirstSource and gave the company an "outperform" rating in a research note on Thursday, July 10th. Robert W. Baird downgraded shares of Builders FirstSource from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $145.00 to $130.00 in a research note on Friday, August 1st. Wedbush cut their price objective on shares of Builders FirstSource from $190.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, June 20th. Finally, Baird R W cut shares of Builders FirstSource from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 1st. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $154.44.

Builders FirstSource Price Performance

Shares of BLDR stock traded down $1.33 on Tuesday, reaching $137.35. The company had a trading volume of 908,319 shares, compared to its average volume of 1,967,509. The stock has a market capitalization of $15.18 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 14.69 and a beta of 1.61. The company has a quick ratio of 1.08, a current ratio of 1.79 and a debt-to-equity ratio of 1.12. Builders FirstSource, Inc. has a one year low of $102.60 and a one year high of $203.14. The business's 50-day moving average is $131.24 and its 200 day moving average is $124.82.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $2.35 by $0.03. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.29 billion. Builders FirstSource had a net margin of 4.74% and a return on equity of 24.61%. The business's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.50 earnings per share. Builders FirstSource has set its FY 2025 guidance at EPS. Equities research analysts forecast 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.