Builders FirstSource, Inc. (NYSE:BLDR) Short Interest Up 11.0% in August

Builders FirstSource, Inc. (NYSE:BLDR) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 3,620,000 shares, an increase of 11.0% from the August 15th total of 3,260,000 shares. Based on an average daily volume of 1,780,000 shares, the short-interest ratio is presently 2.0 days. Currently, 3.2% of the shares of the stock are sold short.

Builders FirstSource Trading Down 0.3 %

Shares of NYSE:BLDR traded down $0.50 during midday trading on Wednesday, reaching $193.39. 713,274 shares of the company’s stock were exchanged, compared to its average volume of 1,607,964. The firm’s 50 day simple moving average is $164.61 and its two-hundred day simple moving average is $170.70. Builders FirstSource has a fifty-two week low of $105.24 and a fifty-two week high of $214.70. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.83 and a quick ratio of 1.14. The stock has a market cap of $23.60 billion, a price-to-earnings ratio of 16.60, a P/E/G ratio of 10.06 and a beta of 2.06.

Builders FirstSource (NYSE:BLDR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $3.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. Builders FirstSource had a net margin of 8.25% and a return on equity of 37.05%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.89 EPS. As a group, sell-side analysts forecast that Builders FirstSource will post 11.65 EPS for the current fiscal year.

Builders FirstSource announced that its board has initiated a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Builders FirstSource

In related news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total value of $4,610,400.00. Following the completion of the sale, the director now owns 95,333 shares of the company’s stock, valued at approximately $14,650,775.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds have recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its holdings in Builders FirstSource by 73.9% in the fourth quarter. Allianz Asset Management GmbH now owns 128,348 shares of the company’s stock valued at $21,426,000 after purchasing an additional 54,557 shares during the period. Boulder Hill Capital Management LP acquired a new stake in Builders FirstSource in the fourth quarter valued at approximately $851,000. Westfield Capital Management Co. LP lifted its stake in 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 worth $236,489,000 after acquiring an additional 143,041 shares during the last quarter. New Mexico Educational Retirement Board grew its holdings in Builders FirstSource by 512.3% during the 1st quarter. New Mexico Educational Retirement Board now owns 39,800 shares of the company’s stock worth $8,300,000 after acquiring an additional 33,300 shares in the last quarter. Finally, Pitcairn Co. increased its position in shares of Builders FirstSource by 37.2% in the 4th quarter. Pitcairn Co. now owns 21,051 shares of the company’s stock valued at $3,514,000 after purchasing an additional 5,704 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BLDR. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Tuesday. Zelman & Associates reaffirmed a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. Benchmark decreased their price target on shares of Builders FirstSource from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Builders FirstSource in a research note on Tuesday, August 6th. Finally, Barclays decreased their target price on shares of Builders FirstSource from $188.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Builders FirstSource currently has an average rating of “Moderate Buy” and a consensus target price of $185.86.

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.