Mystic Asset Management Inc. Makes New $1.64 Million Investment in Builders FirstSource, Inc. $BLDR

Key Points

• Mystic Asset Management acquired 28,825 Builders FirstSource shares in the third quarter, worth approximately $1.64 million. Institutional investors collectively own 95.53% of the company.
• Builders FirstSource reported weaker-than-expected quarterly results, with EPS of $1.17 versus the $1.25 consensus estimate and revenue down 8.8% year over year to $3.86 billion.
• BLDR shares opened at $53.70, near their 12-month low of $49.67 and well below the $131.50 high. Analysts maintain a consensus “Hold” rating with an average price target of $84.50.

Mystic Asset Management Inc. acquired a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 28,825 shares of the company's stock, valued at approximately $1,643,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Builders FirstSource during the second quarter worth $700,934,000. The Manufacturers Life Insurance Company bought a new stake in Builders FirstSource during the 2nd quarter valued at $7,317,000. Lodge Hill Capital LLC boosted its position in Builders FirstSource by 9.9% during the 1st quarter. Lodge Hill Capital LLC now owns 333,000 shares of the company's stock valued at $27,416,000 after acquiring an additional 30,000 shares in the last quarter. JB Capital Partners LP bought a new stake in Builders FirstSource during the 2nd quarter valued at $26,151,872. Finally, GoodHaven Capital Management LLC increased its holdings in shares of Builders FirstSource by 23.4% in the 2nd quarter. GoodHaven Capital Management LLC now owns 228,760 shares of the company's stock valued at $20,469,000 after acquiring an additional 43,330 shares during the period. Institutional investors own 95.53% of the company's stock.

Builders FirstSource Price Performance

NYSE BLDR opened at $53.70 on Friday. The firm's fifty day simple moving average is $62.50 and its two-hundred day simple moving average is $72.81. The firm has a market capitalization of $5.78 billion, a P/E ratio of 59.01, a P/E/G ratio of 1.62 and a beta of 1.45. The company has a current ratio of 1.79, a quick ratio of 1.09 and a debt-to-equity ratio of 1.14. Builders FirstSource, Inc. has a 12-month low of $49.67 and a 12-month 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 for the quarter, missing analysts' consensus estimates of $1.25 by ($0.08). Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the business earned $2.38 EPS. The firm's revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts forecast that Builders FirstSource, Inc. will post 3.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BLDR shares. Barclays reduced their price target on Builders FirstSource from $93.00 to $81.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Wells Fargo & Company dropped their price objective on Builders FirstSource from $65.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Friday, September 11th. Robert W. Baird set a $75.00 price objective on Builders FirstSource in a research report on Friday, July 31st. Oppenheimer cut their target price on Builders FirstSource from $110.00 to $90.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Finally, Royal Bank Of Canada reduced their target price on shares of Builders FirstSource from $107.00 to $88.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $84.50.

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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