Builders FirstSource, Inc. (NYSE:BLDR) Short Interest Update

Builders FirstSource, Inc. (NYSE:BLDR) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 2,740,000 shares, a decline of 6.2% from the September 30th total of 2,920,000 shares. Approximately 2.4% of the shares of the stock are sold short. Based on an average daily volume of 1,510,000 shares, the short-interest ratio is presently 1.8 days.

Insider Transactions at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the completion of the sale, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds have recently bought and sold shares of BLDR. Innealta Capital LLC acquired a new position in shares of Builders FirstSource during the 2nd quarter valued at about $27,000. Armstrong Advisory Group Inc. bought a new position in shares of Builders FirstSource in the third quarter valued at approximately $30,000. Westside Investment Management Inc. acquired a new stake in shares of Builders FirstSource in the first quarter worth $31,000. ORG Partners LLC bought a new stake in shares of Builders FirstSource during the 1st quarter worth $33,000. Finally, First Horizon Advisors Inc. grew its stake in 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 buying an additional 75 shares during the last quarter. 95.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BLDR has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their price target on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. UBS Group initiated coverage on shares of Builders FirstSource in a report on Friday, October 25th. They issued a “buy” rating and a $232.00 target price for the company. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price target for the company from $165.00 to $220.00 in a report on Monday, September 16th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Builders FirstSource in a research note on Tuesday, August 6th. Finally, Benchmark cut their target price on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.35.

Builders FirstSource Stock Up 0.4 %

Shares of Builders FirstSource stock opened at $172.02 on Friday. The firm has a market cap of $20.03 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 10.20 and a beta of 2.06. The stock has a 50-day simple moving average of $184.65 and a 200-day simple moving average of $168.68. Builders FirstSource has a 52-week low of $119.99 and a 52-week high of $214.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14.

Builders FirstSource (NYSE:BLDR) last posted its earnings results 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 firm had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the previous year, the company earned $3.89 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Builders FirstSource will post 11.69 earnings per share for the current fiscal year.

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

Builders FirstSource Company 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.