Builders FirstSource, Inc. (NYSE:BLDR) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its holdings in Builders FirstSource, Inc. (NYSE:BLDR) by 1.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,145 shares of the company’s stock after selling 277 shares during the period. Moran Wealth Management LLC’s holdings in Builders FirstSource were worth $5,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Innealta Capital LLC acquired a new stake in Builders FirstSource during the second quarter worth about $27,000. Armstrong Advisory Group Inc. acquired a new stake in Builders FirstSource during the third quarter worth about $30,000. First Horizon Advisors Inc. increased its position in Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after purchasing an additional 75 shares during the last quarter. New Millennium Group LLC acquired a new stake in Builders FirstSource during the second quarter worth about $38,000. Finally, Reston Wealth Management LLC acquired a new stake in Builders FirstSource during the third quarter worth about $39,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the sale, the director now directly owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This represents a 23.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Builders FirstSource Price Performance

Shares of NYSE BLDR opened at $174.95 on Thursday. Builders FirstSource, Inc. has a 1-year low of $130.75 and a 1-year high of $214.70. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16. The business’s fifty day moving average price is $186.33 and its two-hundred day moving average price is $167.92. The firm has a market capitalization of $20.13 billion, a PE ratio of 17.08, a P/E/G ratio of 0.98 and a beta of 2.08.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 EPS 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 net margin of 7.40% and a return on equity of 33.55%. Builders FirstSource’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period last year, the business posted $4.24 earnings per share. On average, research analysts expect that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource announced that its board has authorized a share buyback program on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BLDR shares. Stephens raised their price objective on shares of Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Loop Capital increased their target price on shares of Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Robert W. Baird increased their target price on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Wedbush reaffirmed an “outperform” rating and set a $230.00 target price on shares of Builders FirstSource in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada increased their target price on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $206.47.

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.