TopBuild Corp. (BLD) Releases Earnings Results
TopBuild Corp. (NYSE:BLD) posted its earnings results on Tuesday. The construction company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09, Bloomberg Earnings reports. The firm had revenue of $474.50 million for the quarter, compared to analysts’ expectations of $477.72 million. TopBuild Corp. had a net margin of 3.38% and a return on equity of 8.21%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share.
Shares of TopBuild Corp. (NYSE BLD) traded up 3.487% during mid-day trading on Tuesday, hitting $58.015. 52,163 shares of the company traded hands. TopBuild Corp. has a 1-year low of $28.81 and a 1-year high of $58.31. The firm’s 50 day moving average price is $53.08 and its 200-day moving average price is $47.60. The stock has a market capitalization of $2.14 billion, a PE ratio of 36.510 and a beta of 0.63.
In related news, COO Robert M. Buck sold 10,000 shares of TopBuild Corp. stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $52.00, for a total value of $520,000.00. Following the transaction, the chief operating officer now owns 59,204 shares in the company, valued at approximately $3,078,608. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of TopBuild Corp. during the fourth quarter worth approximately $9,005,000. Teachers Advisors LLC boosted its position in shares of TopBuild Corp. by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 64,750 shares of the construction company’s stock worth $2,305,000 after buying an additional 2,379 shares during the last quarter. Sheets Smith Wealth Management acquired a new position in shares of TopBuild Corp. during the first quarter worth approximately $229,000. Bank of Montreal Can boosted its position in shares of TopBuild Corp. by 13.6% in the first quarter. Bank of Montreal Can now owns 5,660 shares of the construction company’s stock worth $267,000 after buying an additional 677 shares during the last quarter. Finally, Alpha Windward LLC boosted its position in shares of TopBuild Corp. by 1.4% in the first quarter. Alpha Windward LLC now owns 12,720 shares of the construction company’s stock worth $598,000 after buying an additional 180 shares during the last quarter. Institutional investors own 92.45% of the company’s stock.
A number of research firms have weighed in on BLD. Zacks Investment Research cut shares of TopBuild Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 11th. TheStreet raised shares of TopBuild Corp. from a “c” rating to a “b-” rating in a research note on Friday, June 16th. KeyCorp reaffirmed an “overweight” rating and set a $59.00 target price (up previously from $56.00) on shares of TopBuild Corp. in a research note on Monday, June 26th. Instinet boosted their target price on shares of TopBuild Corp. from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 10th. Finally, Nomura began coverage on shares of TopBuild Corp. in a research note on Wednesday, April 12th. They set a “neutral” rating and a $45.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $51.00.
About TopBuild Corp.
TopBuild Corp. installs and distributes insulation products to the United States construction industry. The Company operates through two segments: Installation (TruTeam) and Distribution (Service Partners). Its Installation segment principally includes the sales and installation of insulation and other building products.
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