Builders FirstSource, Inc. (NASDAQ:BLDR) saw a large decrease in short interest in September. As of September 29th, there was short interest totalling 5,778,036 shares, a decrease of 31.6% from the September 15th total of 8,442,561 shares. Approximately 5.3% of the company’s stock are short sold. Based on an average daily volume of 1,458,157 shares, the days-to-cover ratio is currently 4.0 days.
Shares of Builders FirstSource (NASDAQ:BLDR) opened at 17.68 on Friday. The stock’s 50 day moving average is $16.87 and its 200-day moving average is $15.64. Builders FirstSource has a 12-month low of $9.04 and a 12-month high of $18.23. The company has a market capitalization of $1.99 billion, a P/E ratio of 11.70 and a beta of 2.09.
Builders FirstSource (NASDAQ:BLDR) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. Builders FirstSource had a net margin of 2.60% and a return on equity of 43.83%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $0.31 earnings per share. Builders FirstSource’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts anticipate that Builders FirstSource will post $1.11 earnings per share for the current year.
In related news, Director Robert C. Griffin sold 17,655 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $16.83, for a total value of $297,133.65. Following the transaction, the director now owns 40,050 shares of the company’s stock, valued at approximately $674,041.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Jll Partners Fund V. Lp sold 13,482,177 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $16.17, for a total transaction of $218,006,802.09. The disclosure for this sale can be found here. Insiders have sold a total of 13,645,368 shares of company stock worth $220,735,138 in the last three months. Insiders own 14.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new position in Builders FirstSource in the 1st quarter worth about $108,000. SG Americas Securities LLC purchased a new position in Builders FirstSource during the 2nd quarter valued at about $114,000. PNC Financial Services Group Inc. increased its position in Builders FirstSource by 10,237.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,580 shares of the company’s stock valued at $131,000 after purchasing an additional 8,497 shares during the period. Invictus RG purchased a new position in Builders FirstSource during the 1st quarter valued at about $140,000. Finally, Envestnet Asset Management Inc. increased its position in Builders FirstSource by 68.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 9,511 shares of the company’s stock valued at $143,000 after purchasing an additional 3,861 shares during the period. Hedge funds and other institutional investors own 85.46% of the company’s stock.
Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Builders FirstSource from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. BidaskClub cut shares of Builders FirstSource from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Deutsche Bank AG raised their price target on shares of Builders FirstSource from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. FBR & Co reaffirmed a “buy” rating and issued a $20.00 price target on shares of Builders FirstSource in a research report on Tuesday, June 27th. Finally, Wedbush reaffirmed a “buy” rating and issued a $20.00 price target on shares of Builders FirstSource in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $17.33.
Builders FirstSource Company Profile
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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