Seaport Global Securities Comments on TopBuild Corp.’s Q3 2017 Earnings (BLD)
TopBuild Corp. (NYSE:BLD) – Research analysts at Seaport Global Securities boosted their Q3 2017 EPS estimates for TopBuild Corp. in a note issued to investors on Tuesday. Seaport Global Securities analyst M. Mccall now forecasts that the construction company will post earnings per share of $0.84 for the quarter, up from their previous forecast of $0.81. Seaport Global Securities also issued estimates for TopBuild Corp.’s Q4 2017 earnings at $0.84 EPS, FY2017 earnings at $2.80 EPS and FY2018 earnings at $3.40 EPS.
TopBuild Corp. (NYSE:BLD) last posted its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.09. The firm had revenue of $474.50 million during the quarter, compared to the consensus estimate of $477.72 million. TopBuild Corp. had a return on equity of 9.09% and a net margin of 3.73%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $0.43 earnings per share.
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Several other brokerages also recently commented on BLD. TheStreet raised TopBuild Corp. from a “c” rating to a “b-” rating in a research note on Friday, June 16th. Nomura initiated coverage on TopBuild Corp. in a research note on Wednesday, April 12th. They issued a “neutral” rating and a $45.00 price objective for the company. KeyCorp reissued an “overweight” rating and issued a $59.00 price objective (up from $56.00) on shares of TopBuild Corp. in a research note on Monday, June 26th. Zacks Investment Research downgraded TopBuild Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Instinet increased their price objective on TopBuild Corp. from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 10th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. TopBuild Corp. has an average rating of “Hold” and an average price target of $51.00.
TopBuild Corp. (NYSE BLD) opened at 58.66 on Thursday. The firm has a 50-day moving average price of $53.51 and a 200-day moving average price of $48.26. TopBuild Corp. has a 1-year low of $28.81 and a 1-year high of $59.34. The company has a market capitalization of $2.16 billion, a P/E ratio of 36.92 and a beta of 0.63.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of TopBuild Corp. by 35,157.0% in the first quarter. BlackRock Inc. now owns 5,520,188 shares of the construction company’s stock valued at $259,449,000 after buying an additional 5,504,531 shares during the period. Vanguard Group Inc. increased its stake in shares of TopBuild Corp. by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,287,047 shares of the construction company’s stock valued at $154,490,000 after buying an additional 139,066 shares during the period. FMR LLC increased its stake in shares of TopBuild Corp. by 3.2% in the first quarter. FMR LLC now owns 2,675,684 shares of the construction company’s stock valued at $125,757,000 after buying an additional 83,828 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of TopBuild Corp. by 14.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,196,035 shares of the construction company’s stock valued at $103,213,000 after buying an additional 275,422 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of TopBuild Corp. by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 552,248 shares of the construction company’s stock valued at $29,307,000 after buying an additional 5,550 shares during the period. 92.45% of the stock is owned by hedge funds and other institutional investors.
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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