TopBuild Corp. (NYSE:BLD) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS
TopBuild Corp. (NYSE:BLD) released its quarterly earnings data on Tuesday. The construction company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09, MarketWatch Earnings reports. TopBuild Corp. had a return on equity of 8.21% and a net margin of 3.38%. The company had revenue of $474.50 million during the quarter, compared to the consensus estimate of $477.72 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year.
TopBuild Corp. (NYSE:BLD) opened at 56.06 on Tuesday. The firm has a market cap of $2.07 billion, a P/E ratio of 35.28 and a beta of 0.63. The stock has a 50 day moving average price of $53.08 and a 200 day moving average price of $47.60. TopBuild Corp. has a 1-year low of $28.81 and a 1-year high of $56.46.
In related 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 completion of the sale, the chief operating officer now owns 59,204 shares in the company, valued at approximately $3,078,608. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. increased its stake in TopBuild Corp. by 92.9% in the second quarter. Prudential Financial Inc. now owns 133,795 shares of the construction company’s stock worth $7,101,000 after buying an additional 64,450 shares during the last quarter. Victory Capital Management Inc. increased its stake in TopBuild Corp. by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,966 shares of the construction company’s stock worth $210,000 after buying an additional 596 shares during the last quarter. Columbus Circle Investors purchased a new stake in TopBuild Corp. during the second quarter worth $4,123,000. William Blair Investment Management LLC purchased a new stake in TopBuild Corp. during the second quarter worth $16,207,000. Finally, Marshall Wace North America L.P. purchased a new stake in TopBuild Corp. during the second quarter worth $435,000. Institutional investors own 92.45% of the company’s stock.
BLD has been the subject of several recent research reports. Instinet upped their price objective on TopBuild Corp. from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, May 10th. 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. TheStreet raised TopBuild Corp. from a “c” rating to a “b-” rating in a research note on Friday, June 16th. Zacks Investment Research downgraded TopBuild Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $59.00 price objective (up previously from $56.00) on shares of TopBuild Corp. in a research note on Monday, June 26th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $51.00.
TopBuild Corp. Company Profile
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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