Builders FirstSource, Inc. (NASDAQ:BLDR) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 4,370,000 shares, a growth of 28.2% from the September 30th total of 3,410,000 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is presently 3.8 days.
Shares of NASDAQ BLDR traded down $0.19 during trading on Friday, hitting $25.05. 1,063,700 shares of the company were exchanged, compared to its average volume of 1,558,340. Builders FirstSource has a 12-month low of $10.15 and a 12-month high of $25.55. The firm has a market capitalization of $2.87 billion, a PE ratio of 13.18 and a beta of 1.88. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.98 and a current ratio of 1.66. The company has a fifty day moving average price of $22.35 and a 200-day moving average price of $18.47.
Builders FirstSource (NASDAQ:BLDR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.12. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.87 billion. Builders FirstSource had a return on equity of 37.03% and a net margin of 3.17%. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 earnings per share. Research analysts anticipate that Builders FirstSource will post 2.02 earnings per share for the current fiscal year.
BLDR has been the topic of a number of research analyst reports. Stephens raised shares of Builders FirstSource from an “equal” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $28.00 in a research note on Wednesday, October 16th. SunTrust Banks lifted their target price on shares of Builders FirstSource to $24.00 in a research note on Monday, November 4th. Zacks Investment Research raised shares of Builders FirstSource from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, November 5th. BidaskClub raised shares of Builders FirstSource from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 21st. Finally, ValuEngine raised shares of Builders FirstSource from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Seven investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.90.
In related news, COO David E. Rush sold 12,000 shares of Builders FirstSource stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $24.53, for a total value of $294,360.00. Following the sale, the chief operating officer now owns 54,886 shares of the company’s stock, valued at approximately $1,346,353.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio lifted its stake in Builders FirstSource by 15.7% in the second quarter. Public Employees Retirement System of Ohio now owns 4,758 shares of the company’s stock valued at $80,000 after buying an additional 645 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Builders FirstSource by 16.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,173 shares of the company’s stock valued at $148,000 after buying an additional 994 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in Builders FirstSource in the third quarter valued at approximately $30,000. Janus Henderson Group PLC lifted its stake in Builders FirstSource by 7.3% in the second quarter. Janus Henderson Group PLC now owns 22,313 shares of the company’s stock valued at $376,000 after buying an additional 1,522 shares during the last quarter. Finally, Eqis Capital Management Inc. lifted its stake in Builders FirstSource by 16.4% in the third quarter. Eqis Capital Management Inc. now owns 12,830 shares of the company’s stock valued at $264,000 after buying an additional 1,803 shares during the last quarter. 87.47% of the stock is owned by hedge funds and other institutional investors.
About Builders FirstSource
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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