Vise Technologies Inc. Buys Shares of 21,433 Builders FirstSource, Inc. $BLDR

Key Points

• Vise Technologies initiated a position of 21,433 Builders FirstSource shares valued at approximately $1.92 million. Institutional investors collectively own 95.53% of BLDR.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $90.35; recent targets range from $66 to $100.
• BLDR shares opened at $70.02 after falling 0.4%. The company recently missed quarterly earnings and revenue estimates, while its board has authorized a $500 million share buyback covering up to 5.4% of outstanding shares.

Vise Technologies Inc. bought a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 21,433 shares of the company's stock, valued at approximately $1,918,000.

A number of other hedge funds have also made changes to their positions in BLDR. Caitong International Asset Management Co. Ltd increased its stake in Builders FirstSource by 167.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 211 shares of the company's stock valued at $26,000 after buying an additional 132 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Builders FirstSource during the 2nd quarter valued at $38,000. MUFG Securities EMEA plc acquired a new stake in shares of Builders FirstSource during the 2nd quarter valued at $38,000. Sunbelt Securities Inc. grew its holdings in shares of Builders FirstSource by 508.5% during the 1st quarter. Sunbelt Securities Inc. now owns 359 shares of the company's stock valued at $30,000 after acquiring an additional 300 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its holdings in shares of Builders FirstSource by 90.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 369 shares of the company's stock valued at $38,000 after acquiring an additional 175 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on BLDR. Truist Financial cut their price objective on Builders FirstSource from $115.00 to $90.00 and set a "buy" rating for the company in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft set a $66.00 target price on Builders FirstSource in a research note on Friday, July 31st. Benchmark cut their price target on Builders FirstSource from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Citizens Jmp assumed coverage on Builders FirstSource in a research note on Friday. They set a "market perform" rating for the company. Finally, Zacks Research lowered Builders FirstSource from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $90.35.

Builders FirstSource Trading Down 0.4%

Shares of NYSE:BLDR opened at $70.02 on Friday. The stock has a market capitalization of $7.53 billion, a PE ratio of 76.95, a P/E/G ratio of 2.28 and a beta of 1.44. Builders FirstSource, Inc. has a 1 year low of $65.10 and a 1 year high of $151.03. The firm has a fifty day moving average price of $75.97 and a 200 day moving average price of $84.59. 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 (NYSE:BLDR - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $1.17 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the company earned $2.38 earnings per share. The company's quarterly revenue was down 8.8% compared to the same quarter last year. Analysts expect that Builders FirstSource, Inc. will post 3.15 EPS for the current fiscal year.

Builders FirstSource announced that its board has initiated a share buyback plan on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors 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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