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

Builders FirstSource, Inc. (NASDAQ:BLDR) was the target of a significant drop in short interest during the month of September. As of September 29th, there was short interest totalling 5,778,036 shares, a drop of 31.6% from the September 15th total of 8,442,561 shares. Based on an average daily volume of 1,458,157 shares, the short-interest ratio is currently 4.0 days. Approximately 5.3% of the shares of the company are sold short.

Shares of Builders FirstSource (BLDR) opened at 17.87 on Friday. Builders FirstSource has a 1-year low of $9.04 and a 1-year high of $18.43. The firm’s 50-day moving average price is $17.28 and its 200 day moving average price is $15.83. The firm has a market cap of $2.01 billion, a PE ratio of 11.83 and a beta of 2.09.

Builders FirstSource (NASDAQ:BLDR) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.83 billion. Builders FirstSource had a net margin of 2.60% and a return on equity of 43.83%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share. On average, equities research analysts forecast that Builders FirstSource will post $1.11 EPS for the current fiscal year.

In related news, major shareholder Jll Partners Fund V. Lp sold 13,482,177 shares of Builders FirstSource stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $16.17, for a total transaction of $218,006,802.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul S. Levy bought 800,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were acquired at an average cost of $16.17 per share, for a total transaction of $12,936,000.00. The disclosure for this purchase can be found here. Insiders sold 13,645,368 shares of company stock worth $220,735,138 over the last three months. Insiders own 14.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. acquired a new position in Builders FirstSource in the third quarter worth approximately $305,000. Peregrine Capital Management LLC grew its position in Builders FirstSource by 2.1% in the third quarter. Peregrine Capital Management LLC now owns 470,343 shares of the company’s stock worth $8,461,000 after buying an additional 9,563 shares during the last quarter. Boston Advisors LLC acquired a new position in Builders FirstSource in the third quarter worth approximately $304,000. Fox Run Management L.L.C. grew its position in Builders FirstSource by 40.7% in the third quarter. Fox Run Management L.L.C. now owns 28,000 shares of the company’s stock worth $504,000 after buying an additional 8,100 shares during the last quarter. Finally, Strs Ohio acquired a new position in Builders FirstSource in the third quarter worth approximately $1,133,000. Hedge funds and other institutional investors own 85.66% of the company’s stock.

A number of brokerages recently weighed in on BLDR. Zacks Investment Research cut Builders FirstSource from a “hold” rating to a “sell” rating in a research note on Monday, October 9th. BidaskClub upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Wedbush restated a “buy” rating and set a $20.00 price objective on shares of Builders FirstSource in a research note on Thursday, September 7th. Finally, Deutsche Bank AG upped their price objective on Builders FirstSource from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $17.33.

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About Builders FirstSource

Builders FirstSource, Inc is a supplier and manufacturer of building materials, manufactured components and construction services to professional contractors, sub-contractors, remodelers and consumers. The Company’s operating segments include Northeast, Southeast, South and West. As of December 31, 2016, it operated at 400 locations in 40 states across the United States.

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