Raymond James Trust N.A. Makes New $460,000 Investment in Builders FirstSource, Inc. (NYSE:BLDR)

Raymond James Trust N.A. bought a new position in Builders FirstSource, Inc. (NYSE:BLDR) during the 3rd quarter, Holdings Channel reports. The fund bought 2,374 shares of the company’s stock, valued at approximately $460,000.

A number of other hedge funds also recently made changes to their positions in BLDR. Innealta Capital LLC purchased a new stake in shares of Builders FirstSource during the 2nd quarter worth approximately $27,000. Armstrong Advisory Group Inc. bought a new stake in Builders FirstSource in the third quarter worth $30,000. First Horizon Advisors Inc. raised its stake in Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares in the last quarter. New Millennium Group LLC bought a new position in Builders FirstSource during the second quarter valued at $38,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Builders FirstSource in the 3rd quarter worth $39,000. 95.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource 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 owns 33,083 shares of the company’s stock, valued at approximately $5,902,338.03. This trade represents a 23.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BLDR shares. Oppenheimer reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Builders FirstSource in a report on Tuesday, October 29th. Barclays lifted their target price on Builders FirstSource from $182.00 to $211.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Jefferies Financial Group increased their price target on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Royal Bank of Canada lifted their price objective 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. Finally, Benchmark cut their price objective on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.47.

Builders FirstSource Stock Down 1.7 %

Shares of NYSE BLDR opened at $185.77 on Wednesday. Builders FirstSource, Inc. has a 52-week low of $130.75 and a 52-week high of $214.70. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.00 and a beta of 2.08. The stock has a 50 day moving average price of $186.26 and a 200 day moving average price of $168.02. 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 posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. Builders FirstSource’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $4.24 EPS. Sell-side analysts expect that Builders FirstSource, Inc. will post 11.56 earnings per share for the current year.

Builders FirstSource announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

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.