Shellback Capital LP Has $2.77 Million Stock Position in Builders FirstSource, Inc. (NYSE:BLDR)

Shellback Capital LP cut its holdings in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 60.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the company’s stock after selling 30,000 shares during the quarter. Shellback Capital LP’s holdings in Builders FirstSource were worth $2,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BLDR. Innealta Capital LLC acquired a new position in shares of Builders FirstSource in the second quarter worth $27,000. Westside Investment Management Inc. acquired a new stake in Builders FirstSource in the first quarter valued at approximately $31,000. ORG Partners LLC bought a new stake in Builders FirstSource in the first quarter worth approximately $33,000. American Capital Advisory LLC bought a new position in shares of Builders FirstSource during the 1st quarter valued at $34,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Builders FirstSource by 42.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 95.53% of the company’s stock.

Analysts Set New Price Targets

BLDR has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 price target (down previously from $205.00) on shares of Builders FirstSource in a research report on Friday, August 9th. Oppenheimer lifted their price target on shares of Builders FirstSource from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Robert W. Baird raised shares of Builders FirstSource from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $185.00 to $190.00 in a report on Wednesday, August 7th. StockNews.com upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating in a report on Monday. Finally, Barclays decreased their price target on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Four 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 stock. According to MarketBeat, Builders FirstSource currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.00.

Builders FirstSource Stock Performance

Shares of NYSE BLDR opened at $190.07 on Friday. The firm has a market capitalization of $23.20 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 11.56 and a beta of 2.06. Builders FirstSource, Inc. has a one year low of $105.24 and a one year high of $214.70. The business has a fifty day simple moving average of $170.45 and a 200 day simple moving average of $170.83. The company has a current ratio of 1.83, a quick ratio of 1.14 and a debt-to-equity ratio of 0.88.

Builders FirstSource (NYSE:BLDR) last announced 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 company had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same quarter in the prior year, the company posted $3.89 EPS. The business’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts expect that Builders FirstSource, Inc. will post 11.68 EPS for the current year.

Builders FirstSource announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

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

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.