Harbor Island Capital LLC Purchases New Position in Builders FirstSource, Inc. $BLDR

Key Points

• Harbor Island Capital purchased 219,678 Builders FirstSource shares worth approximately $12.5 million, making BLDR its ninth-largest portfolio holding and representing about 0.20% of the company.
• Institutional investors and hedge funds own 95.53% of BLDR, with several other firms adding to or initiating positions during the third quarter.
• Analyst sentiment is mixed, with an average rating of “Hold” and a $82.25 target price. The company recently missed quarterly EPS and revenue estimates, while revenue declined 8.8% year over year.

Harbor Island Capital LLC purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 219,678 shares of the company's stock, valued at approximately $12,524,000. Builders FirstSource accounts for approximately 3.2% of Harbor Island Capital LLC's portfolio, making the stock its 9th biggest position. Harbor Island Capital LLC owned approximately 0.20% of Builders FirstSource at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Evergreen Capital Management LLC grew its stake in shares of Builders FirstSource by 831.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 51,291 shares of the company's stock worth $2,924,000 after purchasing an additional 45,787 shares during the period. Blodgett Wealth Advisors LLC purchased a new position in shares of Builders FirstSource during the 3rd quarter valued at approximately $162,000. Gibbs Wealth Management increased its holdings in shares of Builders FirstSource by 6.0% during the 3rd quarter. Gibbs Wealth Management now owns 33,899 shares of the company's stock valued at $1,933,000 after purchasing an additional 1,923 shares in the last quarter. Murphy Pohlad Asset Management LLC acquired a new position in shares of Builders FirstSource in the 3rd quarter valued at $746,000. Finally, West Financial Advisors LLC acquired a new position in shares of Builders FirstSource in the 3rd quarter valued at $65,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BLDR shares. Benchmark lowered their price target on shares of Builders FirstSource from $105.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Oppenheimer cut their price objective on shares of Builders FirstSource from $90.00 to $78.00 and set an "outperform" rating for the company in a report on Friday, October 16th. William Blair cut shares of Builders FirstSource from an "outperform" rating to a "market perform" rating in a report on Thursday. DA Davidson set a $68.00 price objective on shares of Builders FirstSource in a research report on Friday, July 31st. Finally, Citigroup reiterated a "market perform" rating on shares of Builders FirstSource in a research report on Thursday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $82.25.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $56.88 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79. The firm has a fifty day moving average of $60.29 and a 200 day moving average of $71.80. The firm has a market cap of $6.12 billion, a PE ratio of 62.51, a PEG ratio of 1.89 and a beta of 1.45. Builders FirstSource, Inc. has a one year low of $49.67 and a one year high of $131.50.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.08). Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The company had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.91 billion. During the same period in the previous year, the business earned $2.38 earnings per share. The business's revenue for the quarter was down 8.8% on a year-over-year basis. As a group, research analysts predict that Builders FirstSource, Inc. will post 3.07 EPS for the current fiscal year.

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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