DA Davidson Lowers TopBuild (NYSE:BLD) Price Target to $450.00

TopBuild (NYSE:BLD) had its price target reduced by equities research analysts at DA Davidson from $460.00 to $450.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. DA Davidson’s target price indicates a potential upside of 22.09% from the company’s previous close. DA Davidson also issued estimates for TopBuild’s Q4 2024 earnings at $5.14 EPS.

Other research analysts also recently issued reports about the company. Stephens dropped their target price on TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. StockNews.com upgraded shares of TopBuild from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group reduced their target price on TopBuild from $525.00 to $515.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Evercore ISI cut their price objective on TopBuild from $491.00 to $443.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Truist Financial decreased their target price on TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $440.44.

TopBuild Price Performance

BLD opened at $368.59 on Thursday. The firm has a market capitalization of $11.12 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 2.27 and a beta of 1.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 1.82. The business’s 50-day moving average is $384.66 and its two-hundred day moving average is $399.20. TopBuild has a 1 year low of $262.64 and a 1 year high of $495.68.

TopBuild (NYSE:BLD) last posted its quarterly earnings data on Tuesday, November 5th. The construction company reported $5.68 EPS for the quarter, topping the consensus estimate of $5.62 by $0.06. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. TopBuild had a net margin of 11.74% and a return on equity of 25.72%. TopBuild’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.43 EPS. Research analysts anticipate that TopBuild will post 21.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TopBuild

Several large investors have recently made changes to their positions in BLD. Vanguard Group Inc. increased its stake in shares of TopBuild by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,990,027 shares of the construction company’s stock valued at $1,317,795,000 after purchasing an additional 15,965 shares in the last quarter. Liontrust Investment Partners LLP grew its stake in TopBuild by 21.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 332,050 shares of the construction company’s stock valued at $127,929,000 after acquiring an additional 57,880 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of TopBuild during the third quarter worth about $114,220,000. Bank of New York Mellon Corp increased its stake in TopBuild by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 261,965 shares of the construction company’s stock worth $100,927,000 after buying an additional 2,133 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of TopBuild by 18.2% in the first quarter. Lazard Asset Management LLC now owns 168,423 shares of the construction company’s stock valued at $74,228,000 after buying an additional 25,973 shares during the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

TopBuild Company Profile

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building material products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, garage doors, fireplaces, roofing materials, closet shelving, and other products.