TopBuild Corp (BLD) Downgraded to “Hold” at Zacks Investment Research
TopBuild Corp (NYSE:BLD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “TopBuild Corp. is the installer and distributor of insulation products to the construction industry primarily in the United States. The company also installs and distributes other building products, which consists of rain gutters, garage doors, fireplaces, shower enclosures, closet shelving and roofing. It offers insulation installation services. TopBuild Corp. TopBuild Corp. is headquartered in Daytona Beach, FL. “
A number of other analysts have also commented on the company. Nomura started coverage on TopBuild Corp in a research report on Wednesday, April 12th. They issued a “neutral” rating and a $45.00 target price for the company. Instinet boosted their price objective on TopBuild Corp from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, May 10th. KeyCorp reissued an “overweight” rating and set a $59.00 price objective (up from $56.00) on shares of TopBuild Corp in a report on Monday, June 26th. TheStreet raised TopBuild Corp from a “c” rating to a “b-” rating in a report on Friday, June 16th. Finally, Seaport Global Securities assumed coverage on TopBuild Corp in a report on Thursday, March 16th. They set a “buy” rating and a $52.00 price objective for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $51.00.
TopBuild Corp (NYSE BLD) traded down 1.00% on Tuesday, hitting $53.26. The stock had a trading volume of 191,869 shares. The company has a 50-day moving average price of $52.83 and a 200-day moving average price of $44.95. TopBuild Corp has a 52 week low of $28.81 and a 52 week high of $55.30. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 33.52 and a beta of 0.66.
TopBuild Corp (NYSE:BLD) last issued its earnings results on Tuesday, May 9th. The construction company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.08. TopBuild Corp had a negative return on equity of 0.71% and a negative net margin of 0.39%. The business had revenue of $441.36 million during the quarter, compared to analyst estimates of $432.01 million. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that TopBuild Corp will post $2.71 earnings per share for the current fiscal year.
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In other news, COO Robert M. Buck sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in BLD. 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 worth $259,449,000 after buying an additional 5,504,531 shares during the last quarter. FMR LLC increased its position in shares of TopBuild Corp by 23.2% in the fourth quarter. FMR LLC now owns 2,591,856 shares of the construction company’s stock worth $92,270,000 after buying an additional 488,723 shares during the last quarter. 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 worth $103,213,000 after buying an additional 275,422 shares during the last quarter. Norges Bank acquired a new position in shares of TopBuild Corp during the fourth quarter worth $9,005,000. Finally, Teachers Advisors LLC increased its position in shares of TopBuild Corp by 358.1% in the first quarter. Teachers Advisors LLC now owns 296,630 shares of the construction company’s stock worth $13,942,000 after buying an additional 231,880 shares during the last quarter. Hedge funds and other institutional investors own 92.78% 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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