TopBuild (NYSE:BLD) Trading 6.3% Higher on Strong Earnings

TopBuild Corp. (NYSE:BLD) traded up 6.3% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $384.86 and last traded at $384.86. 37,391 shares were traded during trading, a decline of 87% from the average session volume of 283,833 shares. The stock had previously closed at $362.13.

The construction company reported $5.68 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.06. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.39 billion. TopBuild had a net margin of 11.74% and a return on equity of 25.72%. TopBuild’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $5.43 earnings per share.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BLD shares. Evercore ISI decreased their price objective on shares of TopBuild from $491.00 to $443.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of TopBuild from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Stephens decreased their price objective on shares of TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Jefferies Financial Group cut their target price on TopBuild from $525.00 to $515.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, DA Davidson cut their target price on TopBuild from $470.00 to $460.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $441.56.

Institutional Trading of TopBuild

A number of institutional investors have recently made changes to their positions in the stock. Atlanta Consulting Group Advisors LLC boosted its stake in shares of TopBuild by 1.5% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 2,699 shares of the construction company’s stock valued at $1,098,000 after purchasing an additional 39 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of TopBuild during the third quarter valued at approximately $114,220,000. Natixis Advisors LLC purchased a new stake in shares of TopBuild during the third quarter valued at approximately $41,981,000. Empowered Funds LLC boosted its stake in shares of TopBuild by 438.5% during the third quarter. Empowered Funds LLC now owns 23,920 shares of the construction company’s stock valued at $9,731,000 after purchasing an additional 19,478 shares during the period. Finally, Sheaff Brock Investment Advisors LLC boosted its stake in shares of TopBuild by 0.6% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 5,360 shares of the construction company’s stock valued at $2,181,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

TopBuild Price Performance

The business has a 50 day moving average of $385.53 and a 200 day moving average of $399.50. The company has a market cap of $11.20 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.21 and a beta of 1.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 1.82.

TopBuild Company Profile

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.