Hsbc Holdings PLC Acquires Shares of 178,432 Builders FirstSource, Inc. $BLDR

Hsbc Holdings PLC bought a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 178,432 shares of the company’s stock, valued at approximately $15,985,000.

A number of other institutional investors have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its position in shares of Builders FirstSource by 167.1% in the third 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 in the last quarter. Sunbelt Securities Inc. increased its holdings in Builders FirstSource by 508.5% in the 1st quarter. Sunbelt Securities Inc. now owns 359 shares of the company’s stock worth $30,000 after acquiring an additional 300 shares in the last quarter. Root Financial Partners LLC raised its position in Builders FirstSource by 43.6% during the first quarter. Root Financial Partners LLC now owns 372 shares of the company’s stock worth $31,000 after acquiring an additional 113 shares during the period. MUFG Securities EMEA plc acquired a new position in Builders FirstSource during the second quarter worth $38,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Builders FirstSource during the second quarter valued at $38,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLDR has been the subject of several research analyst reports. Oppenheimer reduced their price target on shares of Builders FirstSource from $110.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Wells Fargo & Company reduced their target price on Builders FirstSource from $85.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Citigroup assumed coverage on Builders FirstSource in a research note on Friday, August 21st. They issued a “market perform” rating on the stock. Citizens Jmp initiated coverage on Builders FirstSource in a research report on Friday, August 21st. They set a “market perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft set a $66.00 price objective on Builders FirstSource in a research note on Friday, July 31st. 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 company’s stock. According to data from MarketBeat, Builders FirstSource has an average rating of “Hold” and a consensus price target of $90.35.

Builders FirstSource Stock Down 2.0%

Shares of NYSE BLDR opened at $67.29 on Friday. The stock has a market cap of $7.24 billion, a PE ratio of 73.94, a P/E/G ratio of 2.23 and a beta of 1.44. 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, Inc. has a 12-month low of $65.10 and a 12-month high of $151.03. The company has a 50-day moving average of $75.22 and a 200 day moving average of $82.90.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, July 30th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.08). The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.91 billion. Builders FirstSource had a return on equity of 11.73% and a net margin of 0.71%.The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the business earned $2.38 earnings per share. As a group, sell-side analysts predict that Builders FirstSource, Inc. will post 3.15 EPS for the current fiscal year.

Builders FirstSource declared that its Board of Directors has approved a share buyback program on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Builders FirstSource 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.