Waverly Advisors LLC Makes New Investment in Builders FirstSource, Inc. (NYSE:BLDR)

Waverly Advisors LLC acquired a new stake in shares of Builders FirstSource, Inc. (NYSE:BLDR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,595 shares of the company's stock, valued at approximately $371,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Merit Financial Group LLC bought a new stake in shares of Builders FirstSource in the 4th quarter worth $251,000. Janney Montgomery Scott LLC grew its holdings in Builders FirstSource by 8.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,420 shares of the company's stock worth $1,346,000 after acquiring an additional 746 shares during the period. Exchange Traded Concepts LLC raised its position in Builders FirstSource by 6.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,222 shares of the company's stock worth $1,604,000 after acquiring an additional 642 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Builders FirstSource by 105.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,027 shares of the company's stock valued at $147,000 after acquiring an additional 528 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC boosted its position in shares of Builders FirstSource by 7.6% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 1,690 shares of the company's stock valued at $242,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 95.53% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on BLDR shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Builders FirstSource in a report on Tuesday, April 1st. They issued a "buy" rating and a $151.00 target price on the stock. Benchmark dropped their price target on Builders FirstSource from $200.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, February 21st. The Goldman Sachs Group cut their price objective on Builders FirstSource from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Friday, February 21st. UBS Group decreased their target price on Builders FirstSource from $180.00 to $163.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Robert W. Baird set a $130.00 target price on Builders FirstSource in a report on Friday, May 2nd. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $167.58.

Builders FirstSource Stock Down 3.7%

NYSE BLDR traded down $4.18 during trading on Wednesday, hitting $107.33. 1,952,313 shares of the company traded hands, compared to its average volume of 1,680,906. Builders FirstSource, Inc. has a 12 month low of $103.81 and a 12 month high of $203.14. The business has a fifty day simple moving average of $118.37 and a 200 day simple moving average of $143.24. The company has a market capitalization of $11.86 billion, a P/E ratio of 11.85, a PEG ratio of 0.80 and a beta of 1.79. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. Builders FirstSource had a return on equity of 30.54% and a net margin of 6.57%. The firm had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.67 billion. During the same quarter in the prior year, the business earned $2.65 earnings per share. The company's revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts predict that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

Builders FirstSource announced that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.