Palogic Value Management L.P. Acquires New Shares in Builders FirstSource, Inc. $BLDR

Key Points

• Palogic Value Management acquired 16,277 Builders FirstSource shares in the second quarter, valued at approximately $1.46 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 of $3.86 billion, down 8.8% year over year.
• The company authorized a $500 million share buyback, while analysts maintain a consensus “Hold” rating and an average price target of $90.35; shares recently opened at $68.70.

Palogic Value Management L.P. acquired a new position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 16,277 shares of the company's stock, valued at approximately $1,456,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of America Corp DE bought a new stake in shares of Builders FirstSource in the second quarter worth approximately $83,832,000. Caisse de depot et placement du Quebec purchased a new stake in Builders FirstSource during the 2nd quarter valued at $53,590,000. Man Group plc bought a new position in shares of Builders FirstSource during the 2nd quarter valued at $3,351,000. Councilmark Asset Management LLC purchased a new position in shares of Builders FirstSource in the 2nd quarter worth $247,000. Finally, Miller Value Partners LLC bought a new stake in shares of Builders FirstSource in the second quarter worth $1,710,000. Institutional investors own 95.53% of the company's stock.

Builders FirstSource Stock Performance

BLDR opened at $68.70 on Thursday. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 75.49, a PEG ratio of 2.25 and a beta of 1.44. The company has a fifty day moving average of $75.49 and a 200 day moving average of $83.30. Builders FirstSource, Inc. has a fifty-two week low of $65.10 and a fifty-two week high of $151.03. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.09 and a current ratio of 1.79.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.25 by ($0.08). The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.91 billion. Builders FirstSource had a net margin of 0.71% and a return on equity of 11.73%. The business's revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 earnings per share. As a group, sell-side analysts forecast that Builders FirstSource, Inc. will post 3.15 earnings per share for the current fiscal year.

Builders FirstSource announced that its board has initiated a share buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 5.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BLDR shares. Deutsche Bank Aktiengesellschaft set a $66.00 price target on shares of Builders FirstSource in a research report on Friday, July 31st. Citigroup started coverage on shares of Builders FirstSource in a report on Friday, August 21st. They issued a "market perform" rating on the stock. UBS Group reduced their target price on shares of Builders FirstSource from $122.00 to $88.00 and set a "buy" rating for the company in a report on Friday, July 31st. Wells Fargo & Company decreased their price target on shares of Builders FirstSource from $85.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Friday, July 31st. Finally, Barclays dropped their price target on shares of Builders FirstSource from $93.00 to $81.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $90.35.

About Builders FirstSource

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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