TopBuild Corp. (BLD) Downgraded to Hold at Zacks Investment Research

TopBuild Corp. (NYSE:BLD) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, July 11th.

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 research analysts have also recently issued reports on the stock. Seaport Global Securities assumed coverage on shares of TopBuild Corp. in a report on Thursday, March 16th. They set a “buy” rating and a $52.00 target price on the stock. Instinet increased their target price on shares of TopBuild Corp. from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, May 10th. KeyCorp reiterated an “overweight” rating and set a $59.00 target price (up from $56.00) on shares of TopBuild Corp. in a report on Monday, June 26th. Nomura assumed coverage on shares of TopBuild Corp. in a report on Wednesday, April 12th. They set a “neutral” rating and a $45.00 target price on the stock. Finally, TheStreet upgraded shares of TopBuild Corp. from a “c” rating to a “b-” rating in a report on Friday, June 16th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $54.60.

Shares of TopBuild Corp. (NYSE BLD) traded up 0.31% during midday trading on Tuesday, hitting $58.16. 245,951 shares of the stock were exchanged. TopBuild Corp. has a 12 month low of $28.81 and a 12 month high of $59.34. The stock has a market cap of $2.12 billion, a P/E ratio of 32.24 and a beta of 0.63. The firm has a 50 day moving average of $53.64 and a 200-day moving average of $48.33.

TopBuild Corp. (NYSE:BLD) last posted its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The company had revenue of $474.50 million for the quarter, compared to the consensus estimate of $477.72 million. TopBuild Corp. had a net margin of 3.73% and a return on equity of 9.09%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.43 EPS. Equities research analysts anticipate that TopBuild Corp. will post $2.78 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. purchased a new stake in TopBuild Corp. during the second quarter worth $111,000. Schroder Investment Management Group purchased a new stake in TopBuild Corp. during the second quarter worth $121,000. Riverhead Capital Management LLC boosted its stake in TopBuild Corp. by 72.1% in the second quarter. Riverhead Capital Management LLC now owns 3,097 shares of the construction company’s stock worth $164,000 after buying an additional 1,297 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in TopBuild Corp. during the first quarter worth $156,000. Finally, Victory Capital Management Inc. boosted its stake in TopBuild Corp. by 22.7% in the first quarter. Victory Capital Management Inc. now owns 3,370 shares of the construction company’s stock worth $158,000 after buying an additional 624 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.

TopBuild Corp. 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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