Meitav Investment House Ltd. bought a new position in Builders FirstSource, Inc. (NYSE:BLDR – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 9,409 shares of the company’s stock, valued at approximately $1,276,000.
Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Builders FirstSource by 14.8% in the first quarter. Wellington Management Group LLP now owns 11,277,012 shares of the company’s stock valued at $727,819,000 after purchasing an additional 1,455,580 shares in the last quarter. Norges Bank purchased a new position in Builders FirstSource during the 4th quarter valued at about $91,288,000. Envestnet Asset Management Inc. lifted its position in shares of Builders FirstSource by 1,106.4% in the first quarter. Envestnet Asset Management Inc. now owns 844,518 shares of the company’s stock worth $5,183,000 after purchasing an additional 774,515 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in Builders FirstSource during the first quarter valued at approximately $64,912,000. Finally, Southpoint Capital Advisors LP increased its stake in Builders FirstSource by 62.5% in the 1st quarter. Southpoint Capital Advisors LP now owns 1,300,000 shares of the company’s stock valued at $115,414,000 after buying an additional 500,000 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.
Builders FirstSource Trading Up 1.3 %
Shares of BLDR stock opened at $130.35 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $16.08 billion, a P/E ratio of 11.07 and a beta of 2.04. The firm’s fifty day simple moving average is $121.79 and its 200 day simple moving average is $128.36. Builders FirstSource, Inc. has a 1 year low of $59.39 and a 1 year high of $156.85.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Loop Capital assumed coverage on Builders FirstSource in a report on Thursday, August 31st. They set a “buy” rating and a $180.00 price objective for the company. Stephens decreased their target price on shares of Builders FirstSource from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Benchmark raised their price target on shares of Builders FirstSource from $153.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Barclays decreased their price objective on shares of Builders FirstSource from $200.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, October 12th. Finally, BMO Capital Markets boosted their price target on Builders FirstSource from $125.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.77.
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.
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