TopBuild (NYSE:BLD) Shares Gap Up After Better-Than-Expected Earnings

Shares of TopBuild Corp. (NYSE:BLD) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $292.00, but opened at $311.03. TopBuild shares last traded at $295.65, with a volume of 49,560 shares trading hands.

The construction company reported $4.63 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.20. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $4.81 earnings per share.

Wall Street Analyst Weigh In

BLD has been the subject of a number of research analyst reports. Truist Financial reduced their price target on TopBuild from $395.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, February 27th. StockNews.com cut TopBuild from a “buy” rating to a “hold” rating in a research note on Wednesday, February 26th. Benchmark reduced their price objective on shares of TopBuild from $445.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on shares of TopBuild in a report on Tuesday, April 1st. They set a “buy” rating and a $356.00 target price for the company. Finally, Loop Capital lowered their price target on shares of TopBuild from $405.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $398.56.

Hedge Funds Weigh In On TopBuild

Hedge funds and other institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. grew its holdings in shares of TopBuild by 312.6% during the 1st quarter. Meeder Asset Management Inc. now owns 35,570 shares of the construction company’s stock valued at $10,847,000 after purchasing an additional 26,949 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of TopBuild by 37.5% in the 1st quarter. Mackenzie Financial Corp now owns 2,272 shares of the construction company’s stock valued at $693,000 after purchasing an additional 620 shares during the period. First National Advisers LLC bought a new position in shares of TopBuild during the 1st quarter worth approximately $312,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in TopBuild by 14.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,735 shares of the construction company’s stock worth $4,188,000 after purchasing an additional 1,755 shares during the period. Finally, HB Wealth Management LLC bought a new stake in TopBuild in the 1st quarter valued at about $213,000. 95.67% of the stock is currently owned by institutional investors and hedge funds.

TopBuild Price Performance

The company has a market capitalization of $8.33 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.82 and a beta of 1.72. The business has a 50-day moving average price of $296.84 and a two-hundred day moving average price of $328.03. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.64.

About TopBuild

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building material products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, garage doors, fireplaces, roofing materials, closet shelving, and other products.