Impala Asset Management LLC Buys New Stake in Builders FirstSource, Inc. $BLDR

Key Points

• Impala Asset Management disclosed a new position in Builders FirstSource, buying 20,000 shares worth about $1.65 million in the first quarter. The stake makes BLDR roughly 0.8% of the fund’s portfolio.
• Builders FirstSource reported mixed quarterly results, with EPS of $0.27 missing estimates while revenue of $3.29 billion beat expectations. Revenue still fell 10.1% year over year.
• The company also approved a $500 million stock buyback program, which could cover up to 5.4% of outstanding shares. Analysts currently rate the stock a consensus Hold with an average target price of $101.45.

Impala Asset Management LLC bought a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,000 shares of the company's stock, valued at approximately $1,647,000. Builders FirstSource makes up 0.8% of Impala Asset Management LLC's portfolio, making the stock its 22nd largest position.

A number of other institutional investors also recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its holdings in shares of Builders FirstSource by 167.1% during the third quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock valued at $26,000 after purchasing an additional 132 shares during the period. Cromwell Holdings LLC lifted its holdings in Builders FirstSource by 1,323.5% in the fourth quarter. Cromwell Holdings LLC now owns 242 shares of the company's stock worth $25,000 after purchasing an additional 225 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Builders FirstSource in the second quarter worth about $38,000. MUFG Securities EMEA plc bought a new position in Builders FirstSource in the 2nd quarter valued at about $38,000. Finally, Transamerica Financial Advisors LLC grew its position in Builders FirstSource by 90.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company's stock valued at $38,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company's stock.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $71.07 on Thursday. Builders FirstSource, Inc. has a twelve month low of $65.10 and a twelve month high of $151.03. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.66 and a beta of 1.42. The firm has a 50-day moving average of $77.12 and a two-hundred day moving average of $91.71.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.12). The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.17 billion. Builders FirstSource had a net margin of 1.97% and a return on equity of 14.89%. The business's revenue for the quarter was down 10.1% on a year-over-year basis. During the same quarter last year, the business posted $1.51 EPS. As a group, analysts expect that Builders FirstSource, Inc. will post 4.29 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has initiated a stock buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on BLDR. KeyCorp dropped their price target on shares of Builders FirstSource from $100.00 to $91.00 and set an "overweight" rating on the stock in a research report on Monday, July 13th. Raymond James Financial decreased their price objective on shares of Builders FirstSource from $140.00 to $100.00 in a report on Friday, May 1st. Wolfe Research upgraded shares of Builders FirstSource to a "hold" rating in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Builders FirstSource from $102.00 to $81.00 and set a "hold" rating on the stock in a research note on Monday, May 4th. Finally, The Goldman Sachs Group cut their target price on Builders FirstSource from $110.00 to $101.00 in a research report on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Builders FirstSource presently has an average rating of "Hold" and a consensus target price of $101.45.

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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