Focus Financial Network Inc. Makes New Investment in Builders FirstSource, Inc. $BLDR

Key Points

• Focus Financial Network purchased 48,333 shares of Builders FirstSource worth approximately $2.76 million during the third quarter. Institutional investors collectively own 95.53% of the company.
• Analyst sentiment is mixed, with nine Buy, thirteen Hold, and three Sell ratings; the consensus rating is Hold with an average price target of $84.50.
• Builders FirstSource shares opened at $50.46, near their 12-month low of $49.67, after the company missed quarterly earnings and revenue estimates. Revenue fell 8.8% year over year, while EPS came in at $1.17 versus the $1.25 consensus estimate.

Focus Financial Network Inc. bought a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 48,333 shares of the company's stock, valued at approximately $2,755,000.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Builders FirstSource during the second quarter worth $700,934,000. Dimensional Fund Advisors LP raised its position in Builders FirstSource by 12.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,967,744 shares of the company's stock worth $244,301,000 after buying an additional 325,935 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Builders FirstSource in the second quarter worth $134,908,000. Pictet Asset Management Holding SA lifted its position in Builders FirstSource by 74.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,378,332 shares of the company's stock valued at $113,478,000 after purchasing an additional 588,987 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Builders FirstSource in the second quarter worth about $83,832,000. Institutional investors and hedge funds own 95.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. KeyCorp cut their price objective on shares of Builders FirstSource from $100.00 to $91.00 and set an "overweight" rating for the company in a report on Monday, July 13th. DA Davidson set a $68.00 price objective on Builders FirstSource in a report on Friday, July 31st. Truist Financial dropped their target price on shares of Builders FirstSource from $90.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, October 8th. BMO Capital Markets reiterated a "market perform" rating and set a $80.00 price objective on shares of Builders FirstSource in a research report on Thursday, August 6th. Finally, Barclays dropped their price objective on shares of Builders FirstSource from $93.00 to $81.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $84.50.

Builders FirstSource Trading Down 2.4%

Shares of Builders FirstSource stock opened at $50.46 on Thursday. The company has a fifty day simple moving average of $62.87 and a 200-day simple moving average of $73.00. Builders FirstSource, Inc. has a 12-month low of $49.67 and a 12-month high of $131.50. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 55.45, a PEG ratio of 1.66 and a beta of 1.45.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.08). The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The firm's revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $2.38 earnings per share. On average, equities analysts forecast that Builders FirstSource, Inc. will post 3.19 EPS for the current fiscal year.

Builders FirstSource Profile

Builders FirstSource, Inc NYSE: BLDR is a supplier and manufacturer of building materials, manufactured components and construction services for professional homebuilders, contractors, remodelers and other construction professionals in the United States. The company serves customers through a network of locations across the country and supports both residential and selected commercial construction projects.

Its product offerings include lumber and other structural materials, engineered wood products, windows, interior and exterior doors, roofing, siding, cabinets, flooring and related building supplies.

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