Hardy Reed LLC Invests $1.22 Million in Builders FirstSource, Inc. (NYSE:BLDR)

Hardy Reed LLC purchased a new stake in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,268 shares of the company's stock, valued at approximately $1,215,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Builders FirstSource during the second quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in shares of Builders FirstSource in the third quarter worth $28,000. Armstrong Advisory Group Inc. bought a new position in shares of Builders FirstSource in the third quarter worth $30,000. First Horizon Advisors Inc. raised its stake 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 purchasing an additional 75 shares in the last quarter. Finally, New Millennium Group LLC bought a new stake in Builders FirstSource during the second quarter worth about $38,000. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BLDR has been the topic of several recent analyst reports. Bank of America raised their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a "neutral" rating in a report on Thursday, September 19th. Wedbush reissued an "outperform" rating and issued a $230.00 price objective on shares of Builders FirstSource in a research note on Wednesday, November 6th. UBS Group began coverage on Builders FirstSource in a research note on Friday, October 25th. They set a "buy" rating and a $232.00 target price for the company. Benchmark reduced their target price on Builders FirstSource from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, August 7th. Finally, Jefferies Financial Group boosted their price target on Builders FirstSource from $185.00 to $223.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Builders FirstSource presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.47.

Builders FirstSource Trading Down 1.7 %

Shares of NYSE BLDR opened at $185.77 on Wednesday. The firm has a 50 day moving average price of $186.26 and a two-hundred day moving average price of $168.02. The stock has a market cap of $21.38 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.06 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 - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.02). Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. During the same period in the previous year, the company posted $4.24 EPS. The company's quarterly revenue was down 6.7% on a year-over-year basis. As a group, equities analysts forecast that Builders FirstSource, Inc. will post 11.56 EPS for the current year.

Builders FirstSource announced that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Activity

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of Builders FirstSource stock in a transaction on Thursday, November 7th. The shares were 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. The trade was a 23.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

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.

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