Short Interest in Builders FirstSource, Inc. (NYSE:BLDR) Decreases By 8.1%

Builders FirstSource, Inc. (NYSE:BLDR) was the recipient of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 2,280,000 shares, a decrease of 8.1% from the October 31st total of 2,480,000 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 1,370,000 shares, the days-to-cover ratio is currently 1.7 days.

Insider Buying and Selling at Builders FirstSource

In other news, Director Cleveland A. Christophe sold 10,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the transaction, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. The trade was a 23.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLDR. Mountaineer Partners Management LLC acquired a new stake in shares of Builders FirstSource during the 3rd quarter worth about $2,099,877,000. FMR LLC raised its holdings in Builders FirstSource by 45.7% in the 3rd quarter. FMR LLC now owns 10,158,152 shares of the company’s stock valued at $1,969,259,000 after acquiring an additional 3,186,876 shares during the period. Baillie Gifford & Co. acquired a new stake in Builders FirstSource during the third quarter worth approximately $267,132,000. Diamond Hill Capital Management Inc. bought a new stake in shares of Builders FirstSource during the third quarter worth approximately $255,867,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Builders FirstSource by 339.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock valued at $163,373,000 after purchasing an additional 911,990 shares during the last quarter. 95.53% of the stock is owned by institutional investors.

Builders FirstSource Stock Performance

NYSE BLDR traded down $6.22 on Wednesday, hitting $178.25. 545,831 shares of the stock were exchanged, compared to its average volume of 1,539,075. The business’s fifty day moving average is $184.94 and its 200 day moving average is $168.74. Builders FirstSource has a 52 week low of $130.75 and a 52 week high of $214.70. The company has a market capitalization of $20.51 billion, a PE ratio of 18.01, a P/E/G ratio of 1.03 and a beta of 2.06. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.77 and a quick ratio of 1.16.

Builders FirstSource (NYSE:BLDR) last issued its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a net margin of 7.40% and a return on equity of 33.55%. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the business posted $4.24 earnings per share. Research analysts anticipate that Builders FirstSource will post 11.56 EPS for the current fiscal year.

Builders FirstSource announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Bank of America increased their target price on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Barclays lifted their price target on shares of Builders FirstSource from $182.00 to $211.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and raised their price objective for the stock from $165.00 to $220.00 in a report on Monday, September 16th. Finally, Robert W. Baird upped their target price on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $206.47.

About Builders FirstSource

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.