Short Interest in Builders FirstSource, Inc. (NYSE:BLDR) Grows By 25.0%

Builders FirstSource, Inc. (NYSE:BLDR) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 6,100,000 shares, a growth of 25.0% from the May 15th total of 4,880,000 shares. Currently, 5.7% of the company’s stock are sold short. Based on an average daily volume of 1,890,000 shares, the days-to-cover ratio is presently 3.2 days.

Builders FirstSource Stock Down 1.2%

NYSE:BLDR opened at $106.69 on Friday. The firm has a 50-day simple moving average of $113.76 and a two-hundred day simple moving average of $135.21. Builders FirstSource has a fifty-two week low of $102.60 and a fifty-two week high of $203.14. The firm has a market cap of $11.79 billion, a P/E ratio of 13.68, a P/E/G ratio of 6.80 and a beta of 1.69. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.07 and a current ratio of 1.82.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. Builders FirstSource’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.65 earnings per share. Analysts predict that Builders FirstSource will post 11.59 earnings per share for the current fiscal year.

Builders FirstSource declared that its Board of Directors has authorized a stock buyback program on Thursday, May 1st that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, Director Paul S. Levy bought 283,517 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $111.21 per share, with a total value of $31,529,925.57. Following the completion of the acquisition, the director now directly owns 1,672,687 shares of the company’s stock, valued at approximately $186,019,521.27. The trade was a 20.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dirkson R. Charles bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were purchased at an average cost of $109.67 per share, for a total transaction of $548,350.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $548,350. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 505,000 shares of company stock valued at $56,032,120 over the last three months. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds and other institutional investors have recently bought and sold shares of the business. IMA Advisory Services Inc. purchased a new stake in Builders FirstSource in the 1st quarter worth approximately $31,000. SBI Securities Co. Ltd. acquired a new position in Builders FirstSource in the 4th quarter valued at about $34,000. Sentry Investment Management LLC acquired a new position in Builders FirstSource in the 1st quarter valued at about $40,000. CX Institutional acquired a new position in Builders FirstSource in the 1st quarter valued at about $45,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Builders FirstSource by 34.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 518 shares of the company’s stock valued at $74,000 after purchasing an additional 134 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on BLDR shares. The Goldman Sachs Group cut their price objective on Builders FirstSource from $200.00 to $180.00 and set a “buy” rating for the company in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Builders FirstSource in a research report on Tuesday, April 1st. They set a “buy” rating and a $151.00 target price on the stock. Benchmark cut their price target on shares of Builders FirstSource from $200.00 to $170.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Royal Bank Of Canada restated an “outperform” rating and set a $132.00 price target on shares of Builders FirstSource in a research note on Thursday, May 15th. Finally, Robert W. Baird set a $130.00 target price on shares of Builders FirstSource in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Builders FirstSource has an average rating of “Moderate Buy” and an average target price of $167.58.

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.