Builders FirstSource, Inc. (NASDAQ:BLDR) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 3,070,000 shares, a drop of 12.0% from the December 15th total of 3,490,000 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is presently 2.5 days.
Shares of NASDAQ BLDR opened at $26.79 on Tuesday. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 12.27 and a beta of 1.90. The company has a current ratio of 1.66, a quick ratio of 0.98 and a debt-to-equity ratio of 1.73. Builders FirstSource has a 1-year low of $11.91 and a 1-year high of $26.93. The stock’s 50-day moving average is $25.51 and its 200 day moving average is $21.48.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.12. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Builders FirstSource had a return on equity of 37.03% and a net margin of 3.17%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. On average, analysts forecast that Builders FirstSource will post 2.04 EPS for the current fiscal year.
In other Builders FirstSource news, COO David E. Rush sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $24.53, for a total value of $294,360.00. Following the completion of the transaction, the chief operating officer now owns 54,886 shares in the company, valued at approximately $1,346,353.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.20% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Builders FirstSource by 8.0% in the 2nd quarter. Vanguard Group Inc. now owns 11,238,263 shares of the company’s stock worth $189,477,000 after purchasing an additional 828,343 shares during the period. BlackRock Inc. increased its stake in Builders FirstSource by 3.8% in the 2nd quarter. BlackRock Inc. now owns 8,462,144 shares of the company’s stock worth $142,670,000 after purchasing an additional 311,490 shares during the period. Nuveen Asset Management LLC purchased a new position in Builders FirstSource in the 2nd quarter worth approximately $32,931,000. Man Group plc increased its stake in Builders FirstSource by 235.2% in the 2nd quarter. Man Group plc now owns 1,805,354 shares of the company’s stock worth $30,438,000 after purchasing an additional 1,266,829 shares during the period. Finally, FMR LLC increased its stake in Builders FirstSource by 9.5% in the 1st quarter. FMR LLC now owns 1,703,004 shares of the company’s stock worth $22,718,000 after purchasing an additional 147,779 shares during the period. 88.81% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have commented on BLDR shares. ValuEngine downgraded Builders FirstSource from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Deutsche Bank initiated coverage on Builders FirstSource in a research report on Wednesday, November 27th. They set a “buy” rating and a $29.00 price target for the company. BTIG Research initiated coverage on Builders FirstSource in a research report on Thursday, December 12th. They set a “buy” rating and a $31.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $29.00 price target (up previously from $27.00) on shares of Builders FirstSource in a research report on Thursday, December 26th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of Builders FirstSource in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $26.73.
Builders FirstSource Company Profile
Builders FirstSource, Inc manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. The company operates through four segments: Northeast, Southeast, South, and West. 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, steel roof trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products under the Synboard brand name.
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