Victory Capital Management Inc. Buys 1,328,363 Shares of Builders FirstSource, Inc. $BLDR

Victory Capital Management Inc. increased its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 235.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,893,483 shares of the company’s stock after acquiring an additional 1,328,363 shares during the period. Victory Capital Management Inc. owned about 1.71% of Builders FirstSource worth $229,585,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of BLDR. State Street Corp increased its position in Builders FirstSource by 0.6% during the 2nd quarter. State Street Corp now owns 5,026,553 shares of the company’s stock valued at $586,548,000 after purchasing an additional 29,443 shares during the period. Brave Warrior Advisors LLC increased its holdings in Builders FirstSource by 47.2% in the second quarter. Brave Warrior Advisors LLC now owns 1,827,261 shares of the company’s stock worth $213,223,000 after purchasing an additional 585,683 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Builders FirstSource by 5.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,556,151 shares of the company’s stock worth $181,587,000 after buying an additional 74,681 shares in the last quarter. Norges Bank acquired a new stake in shares of Builders FirstSource during the 2nd quarter worth approximately $147,994,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Builders FirstSource by 1.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 924,296 shares of the company’s stock valued at $107,856,000 after acquiring an additional 14,430 shares in the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BLDR. Wells Fargo & Company increased their target price on Builders FirstSource from $115.00 to $120.00 and gave the stock a “cautious” rating in a report on Wednesday, February 11th. Stifel Nicolaus decreased their price target on Builders FirstSource from $124.00 to $115.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. UBS Group dropped their price target on Builders FirstSource from $166.00 to $143.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Robert W. Baird reduced their price objective on Builders FirstSource from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, February 18th. Finally, Jefferies Financial Group lowered their target price on Builders FirstSource from $112.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, February 23rd. Nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $127.39.

Builders FirstSource Stock Performance

NYSE BLDR opened at $97.52 on Wednesday. The company has a 50-day simple moving average of $114.67 and a two-hundred day simple moving average of $118.52. The company has a quick ratio of 1.16, a current ratio of 1.86 and a debt-to-equity ratio of 1.02. Builders FirstSource, Inc. has a 12-month low of $94.17 and a 12-month high of $151.03. The firm has a market cap of $10.79 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.40 and a beta of 1.56.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.18). Builders FirstSource had a net margin of 2.87% and a return on equity of 17.89%. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same quarter in the prior year, the company earned $2.31 earnings per share. The company’s quarterly revenue was down 12.1% compared to the same quarter last year. On average, equities analysts forecast that Builders FirstSource, Inc. will post 11.59 EPS for the current year.

About Builders FirstSource

Builders FirstSource, Inc is a leading supplier of structural and value-added building products and services to professional contractors, homebuilders and remodelers. The company provides a comprehensive range of materials and prefabricated components that support all phases of residential construction, from site development and framing to finishing and installation.

The company’s core offerings include lumber and lumber sheet goods, windows and doors, millwork, roofing and siding, and engineered wood products such as roof and floor trusses.