Westpac Banking Corp Trims Holdings in Builders FirstSource, Inc. (NYSE:BLDR)

Westpac Banking Corp lowered its position in shares of Builders FirstSource, Inc. (NYSE:BLDR) by 64.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,671 shares of the company’s stock after selling 36,061 shares during the quarter. Westpac Banking Corp’s holdings in Builders FirstSource were worth $2,675,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Private Advisor Group LLC lifted its stake in shares of Builders FirstSource by 68.9% during the 2nd quarter. Private Advisor Group LLC now owns 5,461 shares of the company’s stock valued at $743,000 after buying an additional 2,228 shares in the last quarter. Meitav Investment House Ltd. purchased a new position in shares of Builders FirstSource in the second quarter valued at about $1,276,000. Cambria Investment Management L.P. boosted its stake in shares of Builders FirstSource by 737.2% in the second quarter. Cambria Investment Management L.P. now owns 60,143 shares of the company’s stock worth $8,179,000 after acquiring an additional 52,959 shares during the period. Cetera Advisor Networks LLC grew its position in shares of Builders FirstSource by 499.6% during the second quarter. Cetera Advisor Networks LLC now owns 24,066 shares of the company’s stock worth $3,273,000 after purchasing an additional 20,052 shares in the last quarter. Finally, Mckinley Capital Management LLC bought a new stake in Builders FirstSource during the 2nd quarter valued at approximately $5,003,000. Hedge funds and other institutional investors own 94.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Truist Financial cut their price objective on shares of Builders FirstSource from $175.00 to $145.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Loop Capital began coverage on Builders FirstSource in a research report on Thursday, August 31st. They set a “buy” rating and a $180.00 price objective for the company. Barclays decreased their target price on Builders FirstSource from $200.00 to $175.00 and set an “overweight” rating on the stock in a research report on Thursday, October 12th. Royal Bank of Canada dropped their price target on Builders FirstSource from $188.00 to $152.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Finally, BMO Capital Markets lifted their price objective on Builders FirstSource from $125.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $140.77.

Builders FirstSource Trading Up 2.9 %

BLDR traded up $3.77 during trading on Thursday, reaching $132.43. The company had a trading volume of 433,092 shares, compared to its average volume of 1,879,143. The company has a quick ratio of 1.11, a current ratio of 1.76 and a debt-to-equity ratio of 0.74. The business has a 50 day simple moving average of $121.97 and a 200-day simple moving average of $128.35. The stock has a market cap of $16.34 billion, a P/E ratio of 10.93 and a beta of 2.04. Builders FirstSource, Inc. has a 52 week low of $59.39 and a 52 week high of $156.85.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Wednesday, November 1st. The company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.19. The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.88 billion. Builders FirstSource had a net margin of 9.10% and a return on equity of 41.27%. The business’s revenue was down 21.3% on a year-over-year basis. During the same quarter last year, the business earned $5.20 EPS. On average, equities analysts anticipate that Builders FirstSource, Inc. will post 13.72 EPS for the current fiscal year.

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, steel roof 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.