TopBuild Corp.’s (BLD) Buy Rating Reaffirmed at SunTrust Banks, Inc.
TopBuild Corp. (NYSE:BLD)‘s stock had its “buy” rating reissued by analysts at SunTrust Banks, Inc. in a note issued to investors on Wednesday. They presently have a $75.00 price target on the construction company’s stock. SunTrust Banks, Inc.’s price target points to a potential upside of 14.31% from the stock’s current price. SunTrust Banks also issued estimates for TopBuild Corp.’s Q3 2017 earnings at $0.83 EPS, FY2017 earnings at $2.77 EPS and Q4 2018 earnings at $0.95 EPS.
BLD has been the topic of a number of other reports. TheStreet upgraded shares of TopBuild Corp. from a “c” rating to a “b-” rating in a report on Friday, June 16th. Zacks Investment Research raised shares of TopBuild Corp. from a “hold” rating to a “strong-buy” rating and set a $67.00 price objective for the company in a report on Thursday, August 10th. KeyCorp reissued an “overweight” rating and set a $59.00 price objective (up previously from $56.00) on shares of TopBuild Corp. in a report on Monday, June 26th. Finally, BidaskClub lowered TopBuild Corp. from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $58.00.
Shares of TopBuild Corp. (BLD) traded down 1.78% during midday trading on Wednesday, reaching $65.61. The company’s stock had a trading volume of 219,413 shares. The company has a market cap of $2.39 billion, a PE ratio of 36.37 and a beta of 0.64. TopBuild Corp. has a 12 month low of $28.81 and a 12 month high of $67.27. The company’s 50-day moving average price is $61.42 and its 200-day moving average price is $61.42.
TopBuild Corp. (NYSE:BLD) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.09. TopBuild Corp. had a net margin of 3.73% and a return on equity of 9.09%. The firm had revenue of $474.50 million during the quarter, compared to analyst estimates of $477.72 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. TopBuild Corp.’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts anticipate that TopBuild Corp. will post $2.80 EPS for the current fiscal year.
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In related news, CEO Gerald Volas sold 44,356 shares of the business’s stock in a transaction on Friday, August 18th. The shares were 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 $8,476,108.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC lifted its position in TopBuild Corp. by 66.2% during the second quarter. Flinton Capital Management LLC now owns 1,888 shares of the construction company’s stock valued at $100,000 after purchasing an additional 752 shares during the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of TopBuild Corp. in the 2nd quarter worth $111,000. Schroder Investment Management Group purchased a new position in shares of TopBuild Corp. in the 2nd quarter worth $121,000. Ameritas Investment Partners Inc. purchased a new position in shares of TopBuild Corp. in the 1st quarter worth $156,000. Finally, Victory Capital Management Inc. grew its stake in shares of TopBuild Corp. by 22.7% in the 1st quarter. Victory Capital Management Inc. now owns 3,370 shares of the construction company’s stock worth $158,000 after buying an additional 624 shares in the last quarter. 92.01% of the stock is currently owned by institutional investors.
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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