With the housing market in a rough patch due to elevated prices and borrowing costs, it’s no surprise that Builders FirstSource (BLDR) — the largest U.S. supplier of building products for new residential construction — has struggled. Since the start of the year, BLDR stock is down more than 5% while the benchmark S&P 500 index is up almost 7% during the same frame.
It’s also worth pointing out that in the past 52 weeks, the security has given up more than 19% of market value. Frankly, it’s not a great look for Builders FirstSource, which is scheduled to release its earnings results this Thursday before the opening bell. However, bold and adventurous speculators interested in a contrarian idea may want to keep their eyes on BLDR stock.
