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

Builders FirstSource, Inc. (NYSE:BLDRGet Free Report) was the target of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 3,130,000 shares, a drop of 5.2% from the February 29th total of 3,300,000 shares. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 1,250,000 shares, the short-interest ratio is currently 2.5 days.

Wall Street Analyst Weigh In

BLDR has been the subject of a number of research analyst reports. StockNews.com upgraded Builders FirstSource from a “hold” rating to a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus raised 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. B. Riley upgraded shares of Builders FirstSource from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $128.00 to $177.00 in a research report on Wednesday, December 6th. Barclays raised their price objective on shares of Builders FirstSource from $195.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, February 26th. Finally, Royal Bank of Canada raised their price objective on shares of Builders FirstSource from $186.00 to $211.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Builders FirstSource has an average rating of “Moderate Buy” and an average price target of $186.60.

View Our Latest Research Report on BLDR

Insider Buying and Selling

In related news, Director Cory Jacobs Boydston sold 7,759 shares of Builders FirstSource stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $200.00, for a total transaction of $1,551,800.00. Following the completion of the transaction, the director now owns 28,738 shares in the company, valued at $5,747,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Builders FirstSource

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Builders FirstSource by 0.5% in the first quarter. Vanguard Group Inc. now owns 17,422,176 shares of the company’s stock valued at $1,124,428,000 after buying an additional 86,484 shares during the period. Wellington Management Group LLP lifted its holdings in Builders FirstSource by 14.8% in the first quarter. Wellington Management Group LLP now owns 11,277,012 shares of the company’s stock valued at $727,819,000 after buying an additional 1,455,580 shares during the period. State Street Corp lifted its holdings in Builders FirstSource by 5.1% in the second quarter. State Street Corp now owns 4,784,828 shares of the company’s stock valued at $650,737,000 after buying an additional 232,105 shares during the period. Alliancebernstein L.P. lifted its holdings in Builders FirstSource by 182.0% in the second quarter. Alliancebernstein L.P. now owns 2,305,047 shares of the company’s stock valued at $313,486,000 after buying an additional 1,487,620 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Builders FirstSource by 1.7% in the first quarter. Geode Capital Management LLC now owns 2,138,839 shares of the company’s stock valued at $190,771,000 after buying an additional 35,562 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

Builders FirstSource Stock Down 2.8 %

NYSE BLDR opened at $199.69 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.11 and a debt-to-equity ratio of 0.67. Builders FirstSource has a 1-year low of $84.78 and a 1-year high of $214.70. The company has a 50 day moving average of $191.71 and a 200-day moving average of $157.26. The company has a market cap of $24.35 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.24 and a beta of 2.04.

Builders FirstSource (NYSE:BLDRGet Free Report) last released its earnings results on Thursday, February 22nd. The company reported $3.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.85. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.01 billion. Builders FirstSource had a net margin of 9.01% and a return on equity of 41.10%. On average, equities research analysts expect that Builders FirstSource will post 14.02 earnings per share for the current fiscal year.

About Builders FirstSource

(Get Free Report)

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.

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