Builders FirstSource, Inc. (NASDAQ:BLDR) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 3,070,000 shares, a decrease of 12.0% from the December 15th total of 3,490,000 shares. Based on an average trading volume of 1,240,000 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.7% of the shares of the company are sold short.
In related news, COO David E. Rush sold 12,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $24.53, for a total transaction of $294,360.00. Following the completion of the sale, the chief operating officer now owns 54,886 shares in the company, valued at $1,346,353.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Builders FirstSource by 5.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,053,583 shares of the company’s stock worth $17,764,000 after acquiring an additional 59,077 shares during the period. Systematic Financial Management LP bought a new position in shares of Builders FirstSource in the third quarter worth about $597,000. Zebra Capital Management LLC boosted its stake in shares of Builders FirstSource by 13.4% in the second quarter. Zebra Capital Management LLC now owns 79,247 shares of the company’s stock worth $1,336,000 after acquiring an additional 9,336 shares during the period. Neo Ivy Capital Management bought a new position in shares of Builders FirstSource in the third quarter worth about $324,000. Finally, Millennium Management LLC boosted its stake in shares of Builders FirstSource by 34.8% in the third quarter. Millennium Management LLC now owns 516,401 shares of the company’s stock worth $10,624,000 after acquiring an additional 133,239 shares during the period. Institutional investors and hedge funds own 88.81% of the company’s stock.
Shares of BLDR opened at $26.79 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.66 and a debt-to-equity ratio of 1.73. The business has a 50-day simple moving average of $25.51 and a two-hundred day simple moving average of $21.48. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 12.27 and a beta of 1.90. Builders FirstSource has a 52 week low of $11.91 and a 52 week high of $26.93.
Builders FirstSource (NASDAQ:BLDR) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.12. The business had revenue of $1.98 billion during 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 quarter in the prior year, the business posted $0.67 earnings per share. On average, equities analysts anticipate that Builders FirstSource will post 2.04 earnings per share for the current fiscal year.
A number of research firms recently commented on BLDR. ValuEngine cut Builders FirstSource from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. BTIG Research began coverage on Builders FirstSource in a research report on Thursday, December 12th. They set a “buy” rating and a $31.00 price objective for the company. DA Davidson upped their price objective on Builders FirstSource to $21.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. SunTrust Banks upped their price objective on Builders FirstSource to $24.00 in a research report on Monday, November 4th. Finally, Wedbush reiterated an “outperform” rating and set a $29.00 price objective (up previously from $27.00) on shares of Builders FirstSource in a research report on Thursday, December 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $26.73.
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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