Builders FirstSource, Inc. (NYSE:BLDR) Sees Significant Decrease in Short Interest

Builders FirstSource, Inc. (NYSE:BLDR) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,720,000 shares, a drop of 13.1% from the March 15th total of 3,130,000 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily volume of 1,200,000 shares, the short-interest ratio is currently 2.3 days.

Wall Street Analyst Weigh In

BLDR has been the subject of several recent research reports. Royal Bank of Canada raised their price target on shares of Builders FirstSource from $186.00 to $211.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Stifel Nicolaus lifted their price objective on shares of Builders FirstSource from $184.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Wedbush lifted their price objective on shares of Builders FirstSource from $175.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. StockNews.com raised shares of Builders FirstSource from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Finally, Bank of America raised shares of Builders FirstSource from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $153.00 to $200.00 in a research report on Monday, January 29th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $186.93.

Builders FirstSource Stock Performance

NYSE BLDR traded down $2.59 during trading on Tuesday, reaching $181.96. The company’s stock had a trading volume of 1,652,621 shares, compared to its average volume of 1,234,680. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.77. The firm has a market cap of $22.19 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.16 and a beta of 2.04. Builders FirstSource has a twelve month low of $90.10 and a twelve month high of $214.70. The business’s fifty day moving average price is $195.56 and its 200-day moving average price is $162.13.

Builders FirstSource (NYSE:BLDR) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $3.55 EPS for the quarter, beating analysts’ consensus estimates of $2.70 by $0.85. Builders FirstSource had a net margin of 9.01% and a return on equity of 41.10%. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.01 billion. As a group, analysts anticipate that Builders FirstSource will post 13.84 EPS for the current fiscal year.

Insider Activity at Builders FirstSource

In other Builders FirstSource news, Director Cory Jacobs Boydston sold 7,759 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $200.00, for a total value of $1,551,800.00. Following the completion of the transaction, the director now owns 28,738 shares of the company’s stock, valued at approximately $5,747,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Kathmere Capital Management LLC increased its stake in shares of Builders FirstSource by 2.3% during the first quarter. Kathmere Capital Management LLC now owns 5,406 shares of the company’s stock worth $1,127,000 after acquiring an additional 119 shares during the period. Transform Wealth LLC increased its stake in shares of Builders FirstSource by 16.1% during the first quarter. Transform Wealth LLC now owns 38,264 shares of the company’s stock worth $7,980,000 after acquiring an additional 5,301 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Builders FirstSource by 162.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 58,726 shares of the company’s stock worth $12,247,000 after acquiring an additional 36,330 shares during the period. Atlas Capital Advisors LLC increased its stake in shares of Builders FirstSource by 2.1% during the first quarter. Atlas Capital Advisors LLC now owns 9,072 shares of the company’s stock worth $1,892,000 after acquiring an additional 183 shares during the period. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Builders FirstSource during the first quarter worth about $251,000. 95.53% of the stock is currently owned by institutional investors and hedge funds.

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.