Watchtower Advisors LP Buys 16,563 Shares of Builders FirstSource, Inc. $BLDR

Key Points

• Watchtower Advisors LP increased its stake in Builders FirstSource (NYSE:BLDR) by 28.3% in Q3, buying 16,563 shares to own 75,000 shares (about 0.07% of the company) valued at roughly $9.09 million, making BLDR its 12th largest holding and 4.2% of its portfolio.
• Builders FirstSource missed quarterly estimates with EPS of $1.12 versus $1.30 expected and revenue of $3.36B versus $3.46B expected (revenue down 12.1% YoY); the stock was trading down 2.7% and analysts' consensus rating is a Hold with a $127.81 target price.

Watchtower Advisors LP raised its stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) by 28.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the company's stock after buying an additional 16,563 shares during the period. Builders FirstSource accounts for 4.2% of Watchtower Advisors LP's holdings, making the stock its 12th largest holding. Watchtower Advisors LP owned approximately 0.07% of Builders FirstSource worth $9,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. lifted its stake in shares of Builders FirstSource by 0.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 17,630 shares of the company's stock valued at $2,057,000 after acquiring an additional 78 shares during the last quarter. VestGen Advisors LLC raised its holdings in Builders FirstSource by 4.6% in the 2nd quarter. VestGen Advisors LLC now owns 1,943 shares of the company's stock valued at $227,000 after buying an additional 86 shares during the last quarter. Aprio Wealth Management LLC boosted its position in Builders FirstSource by 2.7% during the 3rd quarter. Aprio Wealth Management LLC now owns 3,680 shares of the company's stock worth $446,000 after buying an additional 98 shares during the period. Ramirez Asset Management Inc. grew its holdings in Builders FirstSource by 25.0% during the 3rd quarter. Ramirez Asset Management Inc. now owns 500 shares of the company's stock worth $61,000 after acquiring an additional 100 shares during the last quarter. Finally, IMA Advisory Services Inc. increased its position in Builders FirstSource by 40.9% in the 3rd quarter. IMA Advisory Services Inc. now owns 355 shares of the company's stock valued at $43,000 after acquiring an additional 103 shares during the period. Institutional investors own 95.53% of the company's stock.

Builders FirstSource Trading Down 2.7%

NYSE BLDR opened at $91.11 on Thursday. The stock has a market capitalization of $10.08 billion, a P/E ratio of 23.48, a P/E/G ratio of 2.26 and a beta of 1.56. The business has a 50 day simple moving average of $113.55 and a 200 day simple moving average of $116.85. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.86 and a quick ratio of 1.16. Builders FirstSource, Inc. has a one year low of $89.41 and a one year high of $151.03.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.18). The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.46 billion. Builders FirstSource had a return on equity of 17.89% and a net margin of 2.87%.Builders FirstSource's quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.31 earnings per share. Research analysts expect that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BLDR shares. William Blair initiated coverage on shares of Builders FirstSource in a research note on Thursday, February 26th. They issued an "outperform" rating on the stock. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Builders FirstSource in a report on Wednesday, January 21st. Stifel Nicolaus reduced their price target on Builders FirstSource from $124.00 to $115.00 and set a "hold" rating on the stock in a research report on Tuesday, December 16th. The Goldman Sachs Group lowered their price objective on Builders FirstSource from $150.00 to $142.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Builders FirstSource from $117.00 to $102.00 and set a "hold" rating on the stock in a report on Monday, February 23rd. Ten equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Builders FirstSource has a consensus rating of "Hold" and a consensus target price of $127.81.

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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