Pinnacle Associates Ltd. Makes New Investment in Builders FirstSource, Inc. $BLDR

Key Points

• Pinnacle Associates initiated a position in Builders FirstSource by purchasing 173,559 shares worth approximately $9.9 million, while institutional investors and hedge funds collectively own 95.53% of the company.
• Builders FirstSource shares were trading at $53.51, near their one-year low of $49.67 and well below the one-year high of $131.50. The company recently reported weaker results, with quarterly revenue down 8.8% year over year and earnings missing analyst estimates.
• Analyst sentiment is mixed: nine analysts rate the stock a Buy, thirteen a Hold and two a Sell, resulting in a consensus Hold rating and an average price target of $82.25.

Pinnacle Associates Ltd. bought a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 173,559 shares of the company's stock, valued at approximately $9,895,000. Pinnacle Associates Ltd. owned approximately 0.16% of Builders FirstSource as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of BLDR. Cohen Investment Advisors LLC acquired a new stake in Builders FirstSource in the third quarter worth $3,015,000. Ironwood Financial llc acquired a new position in shares of Builders FirstSource during the third quarter valued at about $169,000. Uncommon Cents Investing Inc acquired a new position in shares of Builders FirstSource during the third quarter valued at about $6,294,000. Nisa Investment Advisors LLC raised its holdings in shares of Builders FirstSource by 40,460.9% during the third quarter. Nisa Investment Advisors LLC now owns 732,529 shares of the company's stock valued at $41,761,000 after purchasing an additional 730,723 shares during the period. Finally, Integrated Advisors Network LLC bought a new position in shares of Builders FirstSource during the 3rd quarter worth about $2,441,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Builders FirstSource Trading Down 0.8%

NYSE:BLDR opened at $53.51 on Thursday. 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 firm has a 50-day moving average of $60.92 and a 200-day moving average of $72.06. The company has a market cap of $5.76 billion, a PE ratio of 58.80, a PEG ratio of 1.76 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 earnings results 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 quarter in the prior year, the company earned $2.38 EPS. The company's revenue was down 8.8% on a year-over-year basis. As a group, equities research analysts expect that Builders FirstSource, Inc. will post 3.13 EPS for the current fiscal year.

Analyst Ratings Changes

BLDR has been the subject of a number of research analyst reports. Oppenheimer decreased their target price on Builders FirstSource from $90.00 to $78.00 and set an "outperform" rating for the company in a research report on Friday, October 16th. Melius Research started coverage on Builders FirstSource in a research note on Tuesday, October 6th. They set a "sell" rating and a $52.00 price target on the stock. Robert W. Baird set a $75.00 price target on Builders FirstSource in a report on Friday, July 31st. KeyCorp cut their price target on Builders FirstSource from $100.00 to $91.00 and set an "overweight" rating on the stock in a report on Monday, July 13th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $80.00 price objective on shares of Builders FirstSource in a research note on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $82.25.

About Builders FirstSource

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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