Builders FirstSource, Inc. (NYSE:BLDR) Sees Large Drop in Short Interest

Builders FirstSource, Inc. (NYSE:BLDR) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 3,040,000 shares, a drop of 19.8% from the May 31st total of 3,790,000 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is currently 1.7 days.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, insider Michael Hiller sold 4,875 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total transaction of $776,343.75. Following the completion of the transaction, the insider now directly owns 30,106 shares of the company’s stock, valued at approximately $4,794,380.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Builders FirstSource news, insider Michael Hiller sold 4,875 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $159.25, for a total transaction of $776,343.75. Following the completion of the transaction, the insider now directly owns 30,106 shares of the company’s stock, valued at approximately $4,794,380.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul M. Mccrobie sold 9,118 shares of Builders FirstSource stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $170.11, for a total transaction of $1,551,062.98. Following the transaction, the insider now directly owns 22,667 shares of the company’s stock, valued at $3,855,883.37. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Builders FirstSource

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Builders FirstSource by 15.7% in the fourth quarter. Vanguard Group Inc. now owns 14,668,049 shares of the company’s stock valued at $2,448,684,000 after purchasing an additional 1,985,297 shares in the last quarter. Westfield Capital Management Co. LP boosted its holdings in shares of Builders FirstSource by 11.2% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,416,611 shares of the company’s stock valued at $236,489,000 after acquiring an additional 143,041 shares during the period. Boston Partners boosted its holdings in shares of Builders FirstSource by 0.8% in the first quarter. Boston Partners now owns 1,377,335 shares of the company’s stock valued at $285,794,000 after acquiring an additional 10,551 shares during the period. Norges Bank acquired a new stake in shares of Builders FirstSource in the fourth quarter valued at approximately $212,209,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in shares of Builders FirstSource by 34.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,133,751 shares of the company’s stock valued at $189,268,000 after acquiring an additional 292,966 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BLDR has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of Builders FirstSource from $226.00 to $237.00 and gave the company a “buy” rating in a report on Thursday, April 18th. StockNews.com raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Thursday, June 27th. Bank of America dropped their price target on shares of Builders FirstSource from $195.00 to $183.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Wedbush dropped their price target on shares of Builders FirstSource from $215.00 to $175.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Zelman & Associates reissued a “hold” rating on shares of Builders FirstSource in a research note on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Builders FirstSource has a consensus rating of “Moderate Buy” and an average target price of $192.47.

Builders FirstSource Stock Performance

Shares of BLDR opened at $133.99 on Tuesday. The stock has a 50 day moving average price of $161.74 and a 200 day moving average price of $175.88. The company has a quick ratio of 1.45, a current ratio of 2.21 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 2.23 and a beta of 2.04. Builders FirstSource has a 52-week low of $105.24 and a 52-week high of $214.70.

Builders FirstSource (NYSE:BLDR) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.23. The firm had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.83 billion. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.96 earnings per share. Research analysts predict that Builders FirstSource will post 12.93 EPS for the current fiscal year.

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.