Darden Wealth Group Inc Boosts Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Darden Wealth Group Inc raised its position in Builders FirstSource, Inc. (NYSE:BLDR) by 18.8% during the third quarter, HoldingsChannel.com reports. The firm owned 4,990 shares of the company’s stock after purchasing an additional 790 shares during the period. Darden Wealth Group Inc’s holdings in Builders FirstSource were worth $967,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BLDR. Forsta AP Fonden increased its position in shares of Builders FirstSource by 12.1% during the third quarter. Forsta AP Fonden now owns 26,800 shares of the company’s stock worth $5,195,000 after acquiring an additional 2,900 shares during the period. Cetera Investment Advisers boosted its stake in shares of Builders FirstSource by 762.2% during the first quarter. Cetera Investment Advisers now owns 50,982 shares of the company’s stock valued at $10,632,000 after purchasing an additional 45,069 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Builders FirstSource by 21.1% during the first quarter. Janus Henderson Group PLC now owns 20,013 shares of the company’s stock valued at $4,173,000 after purchasing an additional 3,483 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Builders FirstSource by 18.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 115,995 shares of the company’s stock valued at $16,055,000 after purchasing an additional 18,223 shares in the last quarter. Finally, AMF Tjanstepension AB bought a new position in shares of Builders FirstSource during the third quarter valued at approximately $1,471,000. 95.53% of the stock is owned by hedge funds and other institutional investors.

Builders FirstSource Stock Up 0.6 %

Shares of NYSE BLDR opened at $175.94 on Friday. The company’s 50-day simple moving average is $186.33 and its 200-day simple moving average is $167.92. Builders FirstSource, Inc. has a 52-week low of $130.75 and a 52-week high of $214.70. The firm has a market cap of $20.25 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The business’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.24 earnings per share. Equities analysts predict that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

Builders FirstSource declared that its board has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BLDR. Wedbush reiterated an “outperform” rating and set a $230.00 price objective on shares of Builders FirstSource in a research note on Wednesday, November 6th. Jefferies Financial Group increased their price objective on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird increased their price objective on shares of Builders FirstSource from $190.00 to $222.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stifel Nicolaus lowered their target price on shares of Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, UBS Group initiated coverage on shares of Builders FirstSource in a research note on Friday, October 25th. They issued a “buy” rating and a $232.00 target price for the company. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Builders FirstSource has a consensus rating of “Moderate Buy” and a consensus target price of $206.47.

Insider Buying and Selling

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the transaction, the director now directly owns 33,083 shares in the company, valued at $5,902,338.03. The trade was a 23.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.80% of the stock is currently owned by company insiders.

Builders FirstSource Profile

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.