Tabor Asset Management LP Lowers Position in Builders FirstSource, Inc. (NYSE:BLDR)

Tabor Asset Management LP reduced its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 56.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,530 shares of the company’s stock after selling 17,344 shares during the period. Tabor Asset Management LP’s holdings in Builders FirstSource were worth $1,934,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BLDR. Smartleaf Asset Management LLC grew its stake in shares of Builders FirstSource by 34.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock worth $74,000 after purchasing an additional 134 shares during the period. Mountain Lake Investment Management LLC grew its position in Builders FirstSource by 7.0% during the fourth quarter. Mountain Lake Investment Management LLC now owns 36,367 shares of the company’s stock worth $5,201,000 after buying an additional 2,367 shares during the period. Fisher Asset Management LLC increased its holdings in Builders FirstSource by 14.9% in the fourth quarter. Fisher Asset Management LLC now owns 196,491 shares of the company’s stock valued at $28,084,000 after buying an additional 25,535 shares in the last quarter. Fiera Capital Corp purchased a new position in Builders FirstSource in the fourth quarter valued at about $27,089,000. Finally, Lecap Asset Management Ltd. lifted its position in shares of Builders FirstSource by 82.6% during the 4th quarter. Lecap Asset Management Ltd. now owns 22,043 shares of the company’s stock valued at $3,151,000 after acquiring an additional 9,970 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Trading Up 2.2%

Shares of Builders FirstSource stock opened at $120.57 on Monday. Builders FirstSource, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $203.14. The business’s fifty day moving average is $120.65 and its two-hundred day moving average is $146.21. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt-to-equity ratio of 0.86. The firm has a market cap of $13.33 billion, a PE ratio of 13.31, a P/E/G ratio of 0.80 and a beta of 1.79.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Thursday, May 1st. The company reported $1.51 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $3.67 billion. During the same period in the prior year, the firm posted $2.65 earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. Analysts anticipate that Builders FirstSource, Inc. will post 11.59 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has authorized a share buyback plan on Thursday, May 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BLDR. Barclays dropped their price objective on Builders FirstSource from $151.00 to $137.00 and set an “overweight” rating for the company in a research note on Friday, May 2nd. Stephens dropped their price target on Builders FirstSource from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Raymond James reaffirmed an “outperform” rating and set a $140.00 price target (down previously from $170.00) on shares of Builders FirstSource in a research note on Friday, May 2nd. BMO Capital Markets lowered their price objective on shares of Builders FirstSource from $146.00 to $135.00 and set a “market perform” rating on the stock in a research note on Monday, May 5th. Finally, Benchmark cut their target price on shares of Builders FirstSource from $200.00 to $170.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $167.58.

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.