Aristeia Capital L.L.C. Acquires New Position in Builders FirstSource, Inc. (NYSE:BLDR)

Aristeia Capital L.L.C. bought a new position in shares of Builders FirstSource, Inc. (NYSE:BLDR) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,614 shares of the company’s stock, valued at approximately $639,000.

Several other large investors have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Builders FirstSource by 0.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock valued at $1,417,000 after buying an additional 74 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after acquiring an additional 75 shares in the last quarter. Team Hewins LLC boosted its holdings in shares of Builders FirstSource by 6.5% in the first quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock worth $274,000 after acquiring an additional 80 shares during the period. Csenge Advisory Group boosted its holdings in shares of Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock worth $589,000 after acquiring an additional 81 shares during the period. Finally, Congress Wealth Management LLC DE grew its position in shares of Builders FirstSource by 1.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock valued at $1,035,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Insider Buying and Selling

In other Builders FirstSource news, Director Craig Arthur Steinke sold 30,000 shares of Builders FirstSource stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Bank of America lifted their target price on shares of Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Royal Bank of Canada cut their price objective on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Monday. Finally, B. Riley decreased their target price on shares of Builders FirstSource from $197.00 to $187.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Builders FirstSource presently has an average rating of “Moderate Buy” and a consensus price target of $190.00.

Builders FirstSource Price Performance

BLDR opened at $195.81 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The stock has a market capitalization of $23.90 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 10.06 and a beta of 2.06. The stock’s 50 day moving average price is $168.61 and its 200-day moving average price is $170.60. Builders FirstSource, Inc. has a 52-week low of $105.24 and a 52-week high of $214.70.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the previous year, the firm earned $3.89 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Builders FirstSource, Inc. will post 11.65 EPS for the current year.

Builders FirstSource announced that its board has authorized a share buyback program on Tuesday, August 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.