Zacks Investment Research downgraded shares of TopBuild (NYSE:BLD) from a buy rating to a hold rating in a research note released on Tuesday morning.
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. “
Several other equities research analysts have also weighed in on the company. Nomura set a $100.00 target price on TopBuild and gave the stock a buy rating in a research report on Tuesday, March 13th. ValuEngine raised TopBuild from a hold rating to a buy rating in a research report on Wednesday, March 7th. SunTrust Banks increased their target price on TopBuild to $82.00 and gave the stock a reduce rating in a research report on Wednesday, February 28th. Finally, Jefferies Group assumed coverage on TopBuild in a research report on Tuesday, December 12th. They issued a buy rating and a $79.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. TopBuild has a consensus rating of Buy and an average price target of $76.00.
Shares of TopBuild (NYSE:BLD) opened at $80.24 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.08 and a current ratio of 1.46. The stock has a market capitalization of $2,907.55, a P/E ratio of 18.28 and a beta of 0.68. TopBuild has a 52-week low of $44.81 and a 52-week high of $82.00.
TopBuild (NYSE:BLD) last posted its quarterly earnings results on Tuesday, February 27th. The construction company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.03. TopBuild had a return on equity of 10.65% and a net margin of 8.30%. The business had revenue of $501.40 million for the quarter, compared to analyst estimates of $491.80 million. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. research analysts predict that TopBuild will post 4.01 earnings per share for the current year.
In other TopBuild news, CFO John S. Peterson sold 6,932 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $75.36, for a total value of $522,395.52. Following the sale, the chief financial officer now directly owns 34,943 shares of the company’s stock, valued at $2,633,304.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Paul Joachimczyk sold 2,227 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $76.15, for a total value of $169,586.05. Following the completion of the sale, the vice president now directly owns 7,699 shares in the company, valued at $586,278.85. The disclosure for this sale can be found here. Insiders sold 32,271 shares of company stock worth $2,405,043 over the last ninety days. 1.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Sheets Smith Wealth Management increased its holdings in shares of TopBuild by 99.5% during the fourth quarter. Sheets Smith Wealth Management now owns 9,737 shares of the construction company’s stock valued at $737,000 after purchasing an additional 4,857 shares during the period. Sawgrass Asset Management LLC acquired a new position in shares of TopBuild during the third quarter valued at $925,000. JPMorgan Chase & Co. increased its holdings in shares of TopBuild by 95.6% during the third quarter. JPMorgan Chase & Co. now owns 204,824 shares of the construction company’s stock valued at $13,180,000 after purchasing an additional 100,094 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of TopBuild by 59.6% during the third quarter. BNP Paribas Arbitrage SA now owns 19,244 shares of the construction company’s stock valued at $1,254,000 after purchasing an additional 7,183 shares during the period. Finally, Dana Investment Advisors Inc. increased its holdings in shares of TopBuild by 65.2% during the third quarter. Dana Investment Advisors Inc. now owns 73,690 shares of the construction company’s stock valued at $4,802,000 after purchasing an additional 29,076 shares during the period. 94.66% of the stock is currently owned by institutional investors.
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TopBuild Company Profile
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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