Builders FirstSource, Inc. (NYSE:BLDR) Short Interest Down 19.8% in June

Builders FirstSource, Inc. (NYSE:BLDR) saw a significant drop in short interest in the month of June. As of June 15th, there was short interest totalling 3,040,000 shares, a drop of 19.8% from the May 31st total of 3,790,000 shares. Based on an average trading volume of 1,810,000 shares, the days-to-cover ratio is currently 1.7 days. Currently, 2.5% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several brokerages have weighed in on BLDR. StockNews.com raised Builders FirstSource from a “hold” rating to a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group boosted their price objective on Builders FirstSource from $226.00 to $237.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Truist Financial dropped their price objective on Builders FirstSource from $190.00 to $180.00 and set a “hold” rating for the company in a report on Wednesday, May 8th. Bank of America dropped their price objective on Builders FirstSource from $195.00 to $183.00 and set a “buy” rating for the company in a report on Thursday, June 6th. Finally, Zelman & Associates reissued a “hold” rating on shares of Builders FirstSource in a report on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $192.47.

Builders FirstSource Price Performance

Shares of BLDR opened at $133.99 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.45 and a current ratio of 2.21. The stock has a 50 day simple moving average of $161.74 and a 200 day simple moving average of $175.88. Builders FirstSource has a 52-week low of $105.24 and a 52-week high of $214.70. The firm has a market capitalization of $16.35 billion, a PE ratio of 11.47, a P/E/G ratio of 2.23 and a beta of 2.04.

Builders FirstSource (NYSE:BLDR) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.42 by $0.23. Builders FirstSource had a return on equity of 38.66% and a net margin of 8.57%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.83 billion. During the same period in the previous year, the firm earned $2.96 EPS. Builders FirstSource’s quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Builders FirstSource will post 12.93 EPS for the current fiscal year.

Insider Buying and Selling at Builders FirstSource

In other Builders FirstSource news, insider Michael Hiller sold 4,875 shares of Builders FirstSource stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $159.25, for a total transaction of $776,343.75. Following the completion of the transaction, the insider now directly owns 30,106 shares of the company’s stock, valued at $4,794,380.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Paul M. Mccrobie sold 9,118 shares of Builders FirstSource stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $170.11, for a total value of $1,551,062.98. Following the completion of the transaction, the insider now directly owns 22,667 shares of the company’s stock, valued at $3,855,883.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Hiller sold 4,875 shares of Builders FirstSource stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $159.25, for a total value of $776,343.75. Following the completion of the transaction, the insider now directly owns 30,106 shares of the company’s stock, valued at $4,794,380.50. The disclosure for this sale can be found here. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Builders FirstSource

Institutional investors and hedge funds have recently made changes to their positions in the stock. EdgeRock Capital LLC bought a new stake in shares of Builders FirstSource during the 4th quarter worth approximately $25,000. Contravisory Investment Management Inc. bought a new stake in Builders FirstSource in the 4th quarter valued at $28,000. Rakuten Securities Inc. bought a new stake in Builders FirstSource in the 4th quarter valued at $29,000. Raleigh Capital Management Inc. raised its stake in Builders FirstSource by 134.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 248 shares of the company’s stock valued at $31,000 after acquiring an additional 142 shares during the period. Finally, Westside Investment Management Inc. bought a new stake in Builders FirstSource in the 1st quarter valued at $31,000. Institutional investors own 95.53% of the company’s stock.

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.