TopBuild (BLD) Upgraded to “Buy” by Zacks Investment Research

TopBuild (NYSE:BLD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm currently has a $85.00 price target on the construction company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.67% from the stock’s previous close.

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. “

BLD has been the topic of a number of other research reports. ValuEngine downgraded TopBuild from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Nomura increased their price target on TopBuild from $58.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, November 8th. SunTrust Banks reiterated a “buy” rating and issued a $75.00 price target on shares of TopBuild in a research note on Wednesday, October 4th. Jefferies Group initiated coverage on TopBuild in a research note on Tuesday, December 12th. They issued a “buy” rating and a $79.00 price target for the company. Finally, KeyCorp reiterated an “overweight” rating on shares of TopBuild in a research note on Friday, November 10th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $68.29.

Shares of TopBuild (NYSE:BLD) traded up $0.28 during trading hours on Friday, reaching $76.12. The company had a trading volume of 269,300 shares, compared to its average volume of 326,100. The firm has a market capitalization of $2,760.00 and a P/E ratio of 37.50. TopBuild has a 1-year low of $36.09 and a 1-year high of $76.72. The company has a quick ratio of 1.02, a current ratio of 1.36 and a debt-to-equity ratio of 0.26.

TopBuild (NYSE:BLD) last issued its earnings results on Tuesday, November 7th. The construction company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $489.04 million for the quarter, compared to the consensus estimate of $491.43 million. TopBuild had a return on equity of 9.88% and a net margin of 4.03%. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. sell-side analysts predict that TopBuild will post 2.75 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its stake in shares of TopBuild by 7.2% in the 2nd quarter. FMR LLC now owns 2,869,266 shares of the construction company’s stock valued at $152,272,000 after acquiring an additional 193,582 shares during the last quarter. Dimensional Fund Advisors LP raised its position in TopBuild by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,410,107 shares of the construction company’s stock worth $157,065,000 after purchasing an additional 49,481 shares during the last quarter. State Street Corp raised its position in TopBuild by 10.2% during the 2nd quarter. State Street Corp now owns 1,128,570 shares of the construction company’s stock worth $59,890,000 after purchasing an additional 104,562 shares during the last quarter. Goldman Sachs Group Inc. raised its position in TopBuild by 12.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,109,157 shares of the construction company’s stock worth $58,863,000 after purchasing an additional 122,281 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in TopBuild by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 552,248 shares of the construction company’s stock worth $29,307,000 after purchasing an additional 5,550 shares during the last quarter. Institutional investors own 94.87% of the company’s stock.

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About TopBuild

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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