Builders FirstSource, Inc. (NYSE:BLDR) Short Interest Update

Builders FirstSource, Inc. (NYSE:BLDR) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 2,740,000 shares, a decline of 6.2% from the September 30th total of 2,920,000 shares. Based on an average trading volume of 1,510,000 shares, the short-interest ratio is currently 1.8 days. Currently, 2.4% of the shares of the stock are short sold.

Builders FirstSource Trading Down 0.2 %

Shares of BLDR traded down $0.41 during mid-day trading on Thursday, reaching $172.47. 205,995 shares of the company’s stock traded hands, compared to its average volume of 1,563,400. The stock has a market cap of $20.08 billion, a P/E ratio of 15.12, a P/E/G ratio of 11.48 and a beta of 2.06. The stock’s 50-day moving average is $184.58 and its two-hundred day moving average is $168.66. Builders FirstSource has a 12 month low of $107.84 and a 12 month 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.

Builders FirstSource (NYSE:BLDR) last released its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.48. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.89 earnings per share. Research analysts forecast that Builders FirstSource will post 11.68 earnings per share for the current fiscal year.

Builders FirstSource declared that its board has approved a share repurchase plan on Tuesday, August 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Craig Arthur Steinke sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $153.68, for a total value of $4,610,400.00. Following the transaction, the director now directly owns 95,333 shares in the company, valued at $14,650,775.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BLDR. Innealta Capital LLC purchased a new stake in shares of Builders FirstSource in the second quarter valued at approximately $27,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Builders FirstSource in the third quarter valued at approximately $30,000. Westside Investment Management Inc. purchased a new stake in shares of Builders FirstSource in the first quarter valued at approximately $31,000. ORG Partners LLC purchased a new stake in shares of Builders FirstSource in the first quarter valued at approximately $33,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Builders FirstSource by 42.1% in the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock valued at $35,000 after purchasing an additional 75 shares during the period. Institutional investors own 95.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Baird R W upgraded Builders FirstSource from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Robert W. Baird boosted their target price on Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America boosted their target price on Builders FirstSource from $165.00 to $198.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Stifel Nicolaus decreased their target price on Builders FirstSource from $217.00 to $195.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $175.00 target price on shares of Builders FirstSource in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.35.

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.