TopBuild (NYSE:BLD) Shares Up 6.3% – Here’s What Happened

TopBuild Corp. (NYSE:BLD) rose 6.3% on Tuesday . The company traded as high as $384.86 and last traded at $384.86. Approximately 37,391 shares traded hands during trading, a decline of 87% from the average daily volume of 283,833 shares. The stock had previously closed at $362.13.

Analysts Set New Price Targets

Several analysts recently issued reports on BLD shares. Evercore ISI boosted their price target on TopBuild from $489.00 to $491.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. DA Davidson decreased their price target on shares of TopBuild from $470.00 to $460.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Stephens dropped their price objective on shares of TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Truist Financial decreased their target price on shares of TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. Finally, StockNews.com raised shares of TopBuild from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $446.89.

TopBuild Price Performance

The business’s 50 day moving average is $386.22 and its 200-day moving average is $399.74. The company has a quick ratio of 1.82, a current ratio of 2.34 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $11.18 billion, a P/E ratio of 19.80, a PEG ratio of 2.21 and a beta of 1.79.

TopBuild (NYSE:BLD) last posted its quarterly earnings results on Tuesday, August 6th. The construction company reported $5.42 EPS for the quarter, missing analysts’ consensus estimates of $5.68 by ($0.26). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. TopBuild had a return on equity of 25.72% and a net margin of 11.74%. TopBuild’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm posted $5.25 EPS. As a group, sell-side analysts predict that TopBuild Corp. will post 21.03 EPS for the current fiscal year.

Hedge Funds Weigh In On TopBuild

Institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of TopBuild during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in TopBuild during the 2nd quarter worth approximately $30,000. Kennebec Savings Bank acquired a new position in TopBuild in the 3rd quarter valued at approximately $45,000. Headlands Technologies LLC bought a new position in shares of TopBuild during the first quarter valued at $56,000. Finally, UMB Bank n.a. lifted its holdings in shares of TopBuild by 87.3% during the third quarter. UMB Bank n.a. now owns 133 shares of the construction company’s stock worth $54,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 95.67% of the company’s stock.

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.