TopBuild (NYSE:BLD) Trading Up 9.6% – Here’s Why

TopBuild Corp. (NYSE:BLD)’s share price rose 9.6% during mid-day trading on Monday . The stock traded as high as $409.90 and last traded at $408.72. Approximately 209,268 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 287,556 shares. The stock had previously closed at $373.05.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BLD shares. DA Davidson cut their price target on shares of TopBuild from $460.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. 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 report on Wednesday, October 9th. StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Truist Financial dropped their price objective on TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, Evercore ISI decreased their target price on TopBuild from $491.00 to $443.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, TopBuild has a consensus rating of “Moderate Buy” and an average price target of $440.44.

TopBuild Trading Up 9.0 %

The stock has a 50 day simple moving average of $382.64 and a 200-day simple moving average of $396.04. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $12.00 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.35 and a beta of 1.79.

TopBuild (NYSE:BLD) last announced its earnings results on Tuesday, November 5th. The construction company reported $5.68 EPS for the quarter, beating analysts’ consensus estimates of $5.62 by $0.06. TopBuild had a net margin of 11.66% and a return on equity of 26.40%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the prior year, the company earned $5.43 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities research analysts forecast that TopBuild Corp. will post 20.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in TopBuild by 9.7% during the 3rd quarter. FMR LLC now owns 1,830,493 shares of the construction company’s stock worth $744,663,000 after acquiring an additional 161,743 shares during the period. State Street Corp raised its position in shares of TopBuild by 3.2% during the 3rd quarter. State Street Corp now owns 1,120,029 shares of the construction company’s stock valued at $455,639,000 after purchasing an additional 34,911 shares during the period. Geode Capital Management LLC lifted its stake in shares of TopBuild by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 627,989 shares of the construction company’s stock valued at $255,526,000 after buying an additional 12,909 shares in the last quarter. Liontrust Investment Partners LLP boosted its holdings in TopBuild by 21.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 332,050 shares of the construction company’s stock worth $127,929,000 after buying an additional 57,880 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in TopBuild in the 3rd quarter worth $114,220,000. 95.67% of the stock is owned by hedge funds and other institutional investors.

About TopBuild

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.