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

Builders FirstSource, Inc. (NYSE:BLDR - Get Free Report) was the recipient of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 6,100,000 shares, an increase of 25.0% from the May 15th total of 4,880,000 shares. Currently, 5.7% of the shares of the company are sold short. Based on an average trading volume of 1,890,000 shares, the short-interest ratio is currently 3.2 days.

Builders FirstSource Trading Down 1.2%

BLDR stock traded down $1.29 during midday trading on Wednesday, reaching $106.69. The company's stock had a trading volume of 3,099,594 shares, compared to its average volume of 1,685,293. Builders FirstSource has a 52 week low of $102.60 and a 52 week high of $203.14. The stock has a market cap of $11.79 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 6.88 and a beta of 1.69. The company has a quick ratio of 1.07, a current ratio of 1.82 and a debt-to-equity ratio of 1.02. The business's 50-day simple moving average is $114.02 and its 200-day simple moving average is $135.75.

Builders FirstSource (NYSE:BLDR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.01. Builders FirstSource had a net margin of 5.66% and a return on equity of 28.02%. The firm had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.67 billion. During the same period last year, the firm earned $2.65 earnings per share. The business's revenue for the quarter was down 6.0% on a year-over-year basis. As a group, sell-side analysts expect that Builders FirstSource will post 11.59 EPS for the current year.

Builders FirstSource declared that its Board of Directors has authorized a share repurchase program on Thursday, May 1st that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BLDR. Deutsche Bank Aktiengesellschaft began coverage on Builders FirstSource in a research report on Tuesday, April 1st. They issued a "buy" rating and a $151.00 target price on the stock. Benchmark dropped 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. Barclays dropped their price target on shares of Builders FirstSource from $151.00 to $137.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Loop Capital dropped their price target on shares of Builders FirstSource from $190.00 to $170.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Truist Financial dropped their price target on shares of Builders FirstSource from $220.00 to $180.00 and set a "buy" rating for the company in a research note on Friday, February 21st. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $167.58.

Insider Activity at Builders FirstSource

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

Hedge Funds Weigh In On Builders FirstSource

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in Builders FirstSource in the 4th quarter valued at $199,890,000. Brave Warrior Advisors LLC acquired a new stake in Builders FirstSource in the 1st quarter valued at $155,123,000. Wellington Management Group LLP lifted its position in Builders FirstSource by 42.6% during the 1st quarter. Wellington Management Group LLP now owns 3,217,125 shares of the company's stock worth $401,948,000 after buying an additional 960,603 shares in the last quarter. Voya Investment Management LLC lifted its position in Builders FirstSource by 174.2% during the 4th quarter. Voya Investment Management LLC now owns 1,416,280 shares of the company's stock worth $202,374,000 after buying an additional 899,841 shares in the last quarter. Finally, FMR LLC lifted its position in Builders FirstSource by 7.3% during the 4th quarter. FMR LLC now owns 10,898,366 shares of the company's stock worth $1,557,703,000 after buying an additional 740,214 shares in the last quarter. 95.53% of the stock is owned by institutional investors.

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.

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