Builders FirstSource, Inc. (NYSE:BLDR) Sees Significant Decrease in Short Interest

Builders FirstSource, Inc. (NYSE:BLDR) was the recipient of a large drop in short interest in November. As of November 30th, there was short interest totalling 2,110,000 shares, a drop of 7.5% from the November 15th total of 2,280,000 shares. Based on an average trading volume of 1,310,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.9% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of analysts have recently issued reports on BLDR shares. Bank of America increased their price target on Builders FirstSource from $165.00 to $198.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Royal Bank of Canada raised their target price on Builders FirstSource from $178.00 to $187.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Jefferies Financial Group upped their price target on Builders FirstSource from $185.00 to $223.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Truist Financial upgraded shares of Builders FirstSource from a “hold” rating to a “buy” rating and lifted their price objective for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Finally, Barclays upped their target price 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. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $210.00.

Builders FirstSource Stock Performance

Shares of BLDR traded down $5.89 during midday trading on Monday, hitting $160.54. 1,948,848 shares of the stock traded hands, compared to its average volume of 1,532,036. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.77. The business’s 50 day moving average price is $181.69 and its two-hundred day moving average price is $169.13. The firm has a market capitalization of $18.48 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 0.96 and a beta of 2.06. Builders FirstSource has a 1-year low of $130.75 and a 1-year high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings data 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 business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.44 billion. Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $4.24 EPS. Equities research analysts predict that Builders FirstSource will post 11.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Builders FirstSource news, Director Cleveland A. Christophe sold 10,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total transaction of $1,784,100.00. Following the transaction, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This represents a 23.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Builders FirstSource

A number of large investors have recently made changes to their positions in BLDR. Innealta Capital LLC bought a new stake in shares of Builders FirstSource in the 2nd quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in shares of Builders FirstSource during the 3rd quarter worth $28,000. Armstrong Advisory Group Inc. bought a new position in shares of Builders FirstSource during the 3rd quarter valued at $30,000. First Horizon Advisors Inc. boosted its holdings in Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after purchasing an additional 75 shares in the last quarter. Finally, New Millennium Group LLC acquired a new position in Builders FirstSource during the second quarter worth $38,000. Institutional investors and hedge funds own 95.53% of the company’s stock.

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.