TopBuild Corp. (BLD) Expected to Post Quarterly Sales of $506.42 Million
Equities research analysts expect TopBuild Corp. (NYSE:BLD) to report sales of $506.42 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for TopBuild Corp.’s earnings. The lowest sales estimate is $497.50 million and the highest is $514.10 million. TopBuild Corp. reported sales of $453.10 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.8%. The company is scheduled to announce its next quarterly earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that TopBuild Corp. will report full-year sales of $506.42 million for the current year, with estimates ranging from $1.90 billion to $1.93 billion. For the next year, analysts expect that the business will report sales of $2.06 billion per share, with estimates ranging from $1.99 billion to $2.10 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for TopBuild Corp..
TopBuild Corp. (NYSE:BLD) last released its earnings results on Tuesday, August 8th. The construction company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.09. The firm had revenue of $474.50 million for the quarter, compared to analysts’ expectations of $477.72 million. TopBuild Corp. had a net margin of 3.73% and a return on equity of 9.09%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.43 earnings per share.
BLD has been the topic of several research reports. Instinet increased their price target 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. TheStreet upgraded shares of TopBuild Corp. from a “c” rating to a “b-” rating in a report on Friday, June 16th. KeyCorp reiterated an “overweight” rating and issued a $59.00 price target (up previously from $56.00) on shares of TopBuild Corp. in a report on Monday, June 26th. Finally, Zacks Investment Research downgraded shares of TopBuild Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $54.60.
In other TopBuild Corp. news, CEO Gerald Volas sold 44,356 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $56.81, for a total value of $2,519,864.36. Following the sale, the chief executive officer now owns 149,201 shares in the company, valued at approximately $8,476,108.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in 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 in the last quarter. Vanguard Group Inc. raised its stake in TopBuild Corp. by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,287,047 shares of the construction company’s stock valued at $154,490,000 after buying an additional 139,066 shares in the last quarter. FMR LLC raised its stake in TopBuild Corp. by 7.2% in the second quarter. FMR LLC now owns 2,869,266 shares of the construction company’s stock valued at $152,272,000 after buying an additional 193,582 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in TopBuild Corp. by 7.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,360,626 shares of the construction company’s stock valued at $125,278,000 after buying an additional 164,591 shares in the last quarter. Finally, State Street Corp raised its stake in TopBuild Corp. by 10.2% in the second quarter. State Street Corp now owns 1,128,570 shares of the construction company’s stock valued at $59,890,000 after buying an additional 104,562 shares in the last quarter. Institutional investors and hedge funds own 93.73% of the company’s stock.
TopBuild Corp. (BLD) opened at 56.64 on Wednesday. The stock has a market capitalization of $2.06 billion, a PE ratio of 31.40 and a beta of 0.63. TopBuild Corp. has a 1-year low of $28.81 and a 1-year high of $59.34. The firm has a 50-day moving average of $54.48 and a 200-day moving average of $49.51.
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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