Hsbc Holdings PLC Makes New $15.98 Million Investment in Builders FirstSource, Inc. $BLDR

Key Points

• HSBC Holdings PLC acquired 178,432 shares of Builders FirstSource, valued at approximately $15.98 million, giving it a 0.17% stake. Institutional investors collectively own 95.53% of the company.
• Analysts have a consensus “Hold” rating on BLDR, with an average price target of $90.35, although several firms recently lowered their targets.
• Builders FirstSource reported quarterly earnings of $1.17 per share, below the $1.25 estimate, while revenue fell 8.8% year over year to $3.86 billion. The company also authorized a $500 million share-repurchase program.

Hsbc Holdings PLC acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 178,432 shares of the company's stock, valued at approximately $15,985,000. Hsbc Holdings PLC owned approximately 0.17% of Builders FirstSource as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its position in Builders FirstSource by 0.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 17,630 shares of the company's stock worth $2,057,000 after purchasing an additional 78 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Builders FirstSource by 2.0% in the fourth quarter. New Mexico Educational Retirement Board now owns 5,100 shares of the company's stock worth $525,000 after buying an additional 100 shares during the last quarter. Moors & Cabot Inc. lifted its stake in shares of Builders FirstSource by 1.5% during the fourth quarter. Moors & Cabot Inc. now owns 7,388 shares of the company's stock worth $760,000 after buying an additional 109 shares during the period. Root Financial Partners LLC grew its holdings in shares of Builders FirstSource by 43.6% during the first quarter. Root Financial Partners LLC now owns 372 shares of the company's stock valued at $31,000 after buying an additional 113 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Builders FirstSource by 5.9% during the third quarter. CIBC Private Wealth Group LLC now owns 2,272 shares of the company's stock valued at $275,000 after buying an additional 126 shares during the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BLDR shares. Robert W. Baird set a $75.00 target price on Builders FirstSource in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $66.00 price objective on Builders FirstSource in a report on Friday, July 31st. Royal Bank Of Canada reduced their price objective on Builders FirstSource from $107.00 to $88.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Barclays decreased their target price on Builders FirstSource from $93.00 to $81.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Finally, Wolfe Research upgraded Builders FirstSource to a "hold" rating in a research report on Thursday, May 14th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $90.35.

Builders FirstSource Trading Down 2.0%

NYSE BLDR opened at $67.29 on Friday. Builders FirstSource, Inc. has a 1 year low of $65.10 and a 1 year high of $151.03. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.79 and a quick ratio of 1.09. The company has a market capitalization of $7.24 billion, a PE ratio of 73.94, a P/E/G ratio of 2.23 and a beta of 1.44. The company has a fifty day moving average of $75.22 and a 200 day moving average of $82.90.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.08). The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.Builders FirstSource's revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.38 earnings per share. Research analysts forecast that Builders FirstSource, Inc. will post 3.15 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized a stock repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.

Builders FirstSource Company 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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