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

Builders FirstSource, Inc. (NYSE:BLDR) saw a large decrease in short interest during 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. Based on an average trading volume of 1,370,000 shares, the short-interest ratio is presently 1.7 days. Approximately 2.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of equities research analysts have commented on BLDR shares. B. Riley decreased their price objective on Builders FirstSource from $197.00 to $187.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Stephens raised their price target on shares of Builders FirstSource from $178.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group started coverage on shares of Builders FirstSource in a research note on Friday, October 25th. They issued a “buy” rating and a $232.00 price objective on the stock. Jefferies Financial Group lifted their target price on shares of Builders FirstSource from $185.00 to $223.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada upped their price target on shares of Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $206.47.

Insider Activity

In other Builders FirstSource 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 transaction of $1,784,100.00. Following the sale, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mountaineer Partners Management LLC bought a new stake in shares of Builders FirstSource during the third quarter worth $2,099,877,000. FMR LLC raised its holdings in Builders FirstSource by 45.7% during the 3rd quarter. FMR LLC now owns 10,158,152 shares of the company’s stock worth $1,969,259,000 after purchasing an additional 3,186,876 shares during the last quarter. Baillie Gifford & Co. acquired a new position in Builders FirstSource during the 3rd quarter valued at about $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 lifted its holdings in 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 buying an additional 911,990 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Price Performance

Shares of NYSE BLDR traded down $6.22 during midday trading on Wednesday, reaching $178.25. 545,831 shares of the company traded hands, compared to its average volume of 1,539,075. The stock’s 50-day simple moving average is $184.94 and its 200-day simple moving average is $168.74. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. Builders FirstSource has a 12 month low of $130.75 and a 12 month high of $214.70. The firm has a market cap of $20.51 billion, a PE ratio of 18.01, a PEG ratio of 1.03 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). The business had revenue of $4.23 billion for 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 period in the prior year, the business earned $4.24 earnings per share. As a group, equities analysts anticipate that Builders FirstSource will post 11.56 earnings per share for the current fiscal year.

Builders FirstSource announced that its Board of Directors has approved a share repurchase program on Tuesday, August 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.