Prospera Private Wealth LLC Purchases New Stake in Builders FirstSource, Inc. (NYSE:BLDR)

Prospera Private Wealth LLC purchased a new position in Builders FirstSource, Inc. (NYSE:BLDR) during the third quarter, HoldingsChannel.com reports. The fund purchased 612 shares of the company’s stock, valued at approximately $119,000.

A number of other hedge funds have also recently modified their holdings of the company. Armstrong Advisory Group Inc. purchased a new position in Builders FirstSource during the 3rd quarter valued at about $30,000. Innealta Capital LLC bought a new position in shares of Builders FirstSource during the second quarter valued at approximately $27,000. Reston Wealth Management LLC purchased a new stake in Builders FirstSource in the third quarter worth $39,000. First Horizon Advisors Inc. boosted its holdings in Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after acquiring an additional 75 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in Builders FirstSource during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Builders FirstSource Stock Up 0.6 %

Shares of Builders FirstSource stock opened at $175.94 on Friday. The company has a 50-day simple moving average of $186.33 and a two-hundred day simple moving average of $167.92. The stock has a market capitalization of $20.25 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.00 and a beta of 2.08. Builders FirstSource, Inc. has a 52-week low of $130.75 and a 52-week high of $214.70. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data 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 firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. Builders FirstSource’s revenue was down 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.24 earnings per share. On average, analysts anticipate that Builders FirstSource, Inc. will post 11.56 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Truist Financial raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their target price for the stock from $165.00 to $220.00 in a research report on Monday, September 16th. DA Davidson lifted their price objective on Builders FirstSource from $169.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. UBS Group initiated coverage on Builders FirstSource in a research report on Friday, October 25th. They issued a “buy” rating and a $232.00 target price for the company. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Loop Capital increased their price objective on Builders FirstSource from $190.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Five investment 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $206.47.

Insider Transactions at Builders FirstSource

In related news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the sale, the director now directly owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.80% of the company’s stock.

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.