SunTrust Banks Analysts Increase Earnings Estimates for TopBuild Corp. (BLD)
TopBuild Corp. (NYSE:BLD) – Research analysts at SunTrust Banks raised their Q4 2018 earnings per share estimates for shares of TopBuild Corp. in a research note issued to investors on Wednesday. SunTrust Banks analyst K. Hughes now anticipates that the construction company will post earnings per share of $0.97 for the quarter, up from their previous estimate of $0.95. SunTrust Banks has a “Buy” rating and a $75.00 price target on the stock.
Several other research firms have also recently weighed in on BLD. TheStreet raised TopBuild Corp. from a “c” rating to a “b-” rating in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of TopBuild Corp. from a “hold” rating to a “strong-buy” rating and set a $67.00 target price for the company in a report on Thursday, August 10th. KeyCorp reiterated an “overweight” rating and set a $59.00 target price (up from $56.00) on shares of TopBuild Corp. in a report on Monday, June 26th. Finally, BidaskClub lowered shares of TopBuild Corp. from a “strong-buy” rating to a “buy” rating in a report on Friday, August 25th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $58.00.
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Shares of TopBuild Corp. (BLD) traded up 0.28% during mid-day trading on Friday, reaching $65.08. The company’s stock had a trading volume of 62,447 shares. The firm has a 50 day moving average price of $61.82 and a 200 day moving average price of $61.82. TopBuild Corp. has a 52-week low of $28.81 and a 52-week high of $67.27. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of 36.08 and a beta of 0.64.
TopBuild Corp. (NYSE:BLD) last issued its earnings results on Tuesday, August 8th. The construction company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. TopBuild Corp. had a return on equity of 9.09% and a net margin of 3.73%. The business had revenue of $474.50 million during the quarter, compared to analyst estimates of $477.72 million. During the same period in the prior year, the company posted $0.43 earnings per share. TopBuild Corp.’s revenue was up 9.9% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the company. Fiera Capital Corp purchased a new position in shares of TopBuild Corp. during the second quarter valued at approximately $12,805,000. Citadel Advisors LLC purchased a new position in shares of TopBuild Corp. during the first quarter valued at approximately $209,000. Chicago Equity Partners LLC purchased a new position in shares of TopBuild Corp. during the second quarter valued at approximately $2,599,000. Vanguard Group Inc. lifted its holdings in shares of TopBuild Corp. by 4.4% during the first quarter. Vanguard Group Inc. now owns 3,287,047 shares of the construction company’s stock valued at $154,490,000 after purchasing an additional 139,066 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of TopBuild Corp. by 243.0% during the first quarter. Bank of America Corp DE now owns 223,578 shares of the construction company’s stock valued at $10,508,000 after purchasing an additional 158,394 shares during the last quarter. Hedge funds and other institutional investors own 92.01% of the company’s stock.
In other news, CEO Gerald Volas sold 44,356 shares of TopBuild Corp. stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $56.81, for a total transaction of $2,519,864.36. Following the completion of the transaction, the chief executive officer now directly owns 149,201 shares in the company, valued at $8,476,108.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.
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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