Jackson Square Capital LLC Takes $1.64 Million Position in Builders FirstSource, Inc. (NYSE:BLDR)

Jackson Square Capital LLC bought a new position in Builders FirstSource, Inc. (NYSE:BLDR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,468 shares of the company's stock, valued at approximately $1,642,000.

Several other hedge funds have also recently modified their holdings of BLDR. Cyndeo Wealth Partners LLC lifted its position in Builders FirstSource by 3.7% during the third quarter. Cyndeo Wealth Partners LLC now owns 1,571 shares of the company's stock valued at $305,000 after purchasing an additional 56 shares during the period. World Equity Group Inc. boosted its stake in shares of Builders FirstSource by 4.1% in the 3rd quarter. World Equity Group Inc. now owns 1,632 shares of the company's stock worth $316,000 after buying an additional 64 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Builders FirstSource by 0.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company's stock worth $1,417,000 after acquiring an additional 74 shares during the period. First Horizon Advisors Inc. increased its position 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 acquiring an additional 75 shares during the last quarter. Finally, Csenge Advisory Group lifted its holdings in Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company's stock valued at $589,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 95.53% of the company's stock.

Builders FirstSource Price Performance

BLDR stock traded up $2.31 during mid-day trading on Thursday, hitting $179.09. The company had a trading volume of 1,826,371 shares, compared to its average volume of 1,116,530. The company has a 50-day moving average price of $184.71 and a 200 day moving average price of $168.52. Builders FirstSource, Inc. has a 12-month low of $120.80 and a 12-month high of $214.70. The company has a market capitalization of $20.86 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 10.17 and a beta of 2.08. The company has a quick ratio of 1.14, a current ratio of 1.83 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported $3.07 EPS 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 37.05% and a net margin of 8.25%. Builders FirstSource's quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.24 earnings per share. On average, research analysts anticipate that Builders FirstSource, Inc. will post 11.69 earnings per share for the current year.

Builders FirstSource declared that its Board of Directors has approved a share repurchase program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BLDR shares. Truist Financial upgraded Builders FirstSource from a "hold" rating to a "buy" rating and boosted their price target for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Baird R W upgraded shares of Builders FirstSource from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 7th. Benchmark decreased their price target 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. UBS Group started coverage on shares of Builders FirstSource in a research report on Friday, October 25th. They set a "buy" rating and a $232.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on Builders FirstSource from $178.00 to $187.00 and gave the stock an "outperform" rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Builders FirstSource has a consensus rating of "Moderate Buy" and an average target price of $206.47.

Builders FirstSource Company 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.