BidaskClub Lowers TopBuild Corp. (BLD) to Buy
BidaskClub cut shares of TopBuild Corp. (NYSE:BLD) from a strong-buy rating to a buy rating in a report released on Friday.
BLD has been the topic of a number of other reports. 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 report on Wednesday, May 10th. Zacks Investment Research downgraded shares of TopBuild Corp. from a strong-buy rating to a hold rating in a report on Tuesday, July 11th. KeyCorp restated an overweight rating and issued a $59.00 target price (up from $56.00) on shares of TopBuild Corp. in a report on Monday, June 26th. Finally, TheStreet upgraded shares of TopBuild Corp. from a c rating to a b- rating in a report on Friday, June 16th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $54.60.
Shares of TopBuild Corp. (NYSE BLD) opened at 54.79 on Friday. TopBuild Corp. has a 12 month low of $28.81 and a 12 month high of $59.34. The company has a market cap of $2.00 billion, a price-to-earnings ratio of 30.37 and a beta of 0.63. The company’s 50-day moving average price is $54.71 and its 200-day moving average price is $49.84.
TopBuild Corp. (NYSE:BLD) last posted its earnings results on Tuesday, August 8th. The construction company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. TopBuild Corp. had a net margin of 3.73% and a return on equity of 9.09%. The firm had revenue of $474.50 million for the quarter, compared to the consensus estimate of $477.72 million. During the same period in the previous year, the firm posted $0.43 EPS. The business’s quarterly revenue was up 9.9% on a year-over-year basis. Analysts anticipate that TopBuild Corp. will post $2.81 EPS for the current year.
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In related news, CEO Gerald Volas sold 44,356 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $56.81, for a total transaction of $2,519,864.36. Following the transaction, the chief executive officer now directly owns 149,201 shares in the company, valued at approximately $8,476,108.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its position 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 last quarter. Westfield Capital Management Co. LP purchased a new position in shares of TopBuild Corp. during the second quarter valued at approximately $17,832,000. Koch Industries Inc. purchased a new position in shares of TopBuild Corp. during the second quarter valued at approximately $324,000. William Blair Investment Management LLC purchased a new position in shares of TopBuild Corp. during the second quarter valued at approximately $16,207,000. Finally, Dimensional Fund Advisors LP increased its position 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 last quarter. Institutional investors own 91.99% of the company’s stock.
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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