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

Builders FirstSource, Inc. (NYSE:BLDR) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 2,590,000 shares, an increase of 22.7% from the November 30th total of 2,110,000 shares. Based on an average daily trading volume, of 1,290,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.3% of the company’s shares are short sold.

Builders FirstSource Stock Performance

NYSE:BLDR traded down $0.44 during mid-day trading on Tuesday, hitting $142.93. 1,102,911 shares of the company’s stock traded hands, compared to its average volume of 1,539,176. Builders FirstSource has a 12 month low of $130.75 and a 12 month high of $214.70. The firm has a market capitalization of $16.45 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.96 and a beta of 2.06. The firm has a 50 day moving average of $172.13 and a two-hundred day moving average of $169.12. The company has a current ratio of 1.77, a quick ratio of 1.16 and a debt-to-equity ratio of 0.83.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, November 5th. The company reported $3.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.02). Builders FirstSource had a return on equity of 33.55% and a net margin of 7.40%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.44 billion. During the same period last year, the firm posted $4.24 EPS. The company’s revenue was down 6.7% compared to the same quarter last year. On average, equities analysts forecast that Builders FirstSource will post 11.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Cleveland A. Christophe sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $178.41, for a total value of $1,784,100.00. Following the completion of the sale, the director now owns 33,083 shares of the company’s stock, valued at $5,902,338.03. This trade represents a 23.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Several hedge funds have recently made changes to their positions in the stock. Mountaineer Partners Management LLC bought a new stake in Builders FirstSource in the 3rd quarter valued at $2,099,877,000. FMR LLC increased its stake in Builders FirstSource by 45.7% in the third quarter. FMR LLC now owns 10,158,152 shares of the company’s stock valued at $1,969,259,000 after acquiring an additional 3,186,876 shares during the period. Baillie Gifford & Co. bought a new position in Builders FirstSource during the third quarter worth about $267,132,000. Diamond Hill Capital Management Inc. acquired a new stake in Builders FirstSource during the third quarter valued at approximately $255,867,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Builders FirstSource by 339.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,180,358 shares of the company’s stock worth $163,373,000 after buying an additional 911,990 shares in the last quarter. Institutional investors own 95.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BLDR shares. Robert W. Baird increased their price target on shares of Builders FirstSource from $190.00 to $222.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group assumed coverage on shares of Builders FirstSource in a research note on Friday, October 25th. They set a “buy” rating and a $232.00 target price for the company. StockNews.com lowered Builders FirstSource from a “buy” rating to a “hold” rating in a report on Monday, December 16th. Royal Bank of Canada upped their target price on Builders FirstSource from $178.00 to $187.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 6th. Finally, Truist Financial raised Builders FirstSource from a “hold” rating to a “buy” rating and boosted their price target for the company from $165.00 to $220.00 in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.00.

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.