SunTrust Banks Cuts TopBuild (BLD) Price Target to $70.00

TopBuild (NYSE:BLD) had its price target reduced by SunTrust Banks to $70.00 in a report issued on Wednesday, The Fly reports. They currently have a buy rating on the construction company’s stock. SunTrust Banks also issued estimates for TopBuild’s Q4 2018 earnings at $1.23 EPS, FY2018 earnings at $4.21 EPS, Q1 2019 earnings at $0.72 EPS, Q2 2019 earnings at $1.11 EPS, Q3 2019 earnings at $1.45 EPS, Q4 2019 earnings at $1.46 EPS and FY2019 earnings at $4.72 EPS.

A number of other research analysts have also recently issued reports on BLD. Jefferies Financial Group reissued a buy rating and issued a $98.00 price objective on shares of TopBuild in a research note on Friday, July 20th. ValuEngine cut shares of TopBuild from a buy rating to a hold rating in a research note on Wednesday, July 25th. Seaport Global Securities reissued a buy rating and issued a $94.00 price objective on shares of TopBuild in a research note on Sunday, August 12th. Stephens reissued a buy rating and issued a $87.00 price objective on shares of TopBuild in a research note on Thursday, August 16th. Finally, KeyCorp set a $81.00 price objective on shares of TopBuild and gave the company a buy rating in a research note on Monday, August 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $84.70.

Shares of NYSE BLD traded down $1.82 during midday trading on Wednesday, reaching $51.31. The company’s stock had a trading volume of 673,653 shares, compared to its average volume of 459,187. The company has a current ratio of 1.59, a quick ratio of 1.18 and a debt-to-equity ratio of 0.66. TopBuild has a fifty-two week low of $42.18 and a fifty-two week high of $87.21. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 18.46 and a beta of 0.77.

TopBuild (NYSE:BLD) last released its quarterly earnings results on Tuesday, November 6th. The construction company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.01. TopBuild had a net margin of 8.96% and a return on equity of 13.22%. The company had revenue of $647.30 million during the quarter, compared to the consensus estimate of $643.65 million. During the same period in the previous year, the business earned $0.83 earnings per share. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. On average, equities research analysts forecast that TopBuild will post 4.22 earnings per share for the current year.

A number of large investors have recently made changes to their positions in BLD. Legal & General Group Plc grew its stake in shares of TopBuild by 3.6% during the second quarter. Legal & General Group Plc now owns 76,510 shares of the construction company’s stock worth $6,028,000 after buying an additional 2,633 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of TopBuild by 4.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 262,083 shares of the construction company’s stock worth $20,532,000 after buying an additional 11,323 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of TopBuild during the second quarter worth $219,000. Brown Advisory Inc. grew its stake in shares of TopBuild by 74.8% during the second quarter. Brown Advisory Inc. now owns 541,999 shares of the construction company’s stock worth $42,460,000 after buying an additional 231,843 shares during the last quarter. Finally, Aurora Investment Counsel bought a new stake in shares of TopBuild during the third quarter worth $1,122,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

TopBuild Company Profile

TopBuild Corp. engages in the installation, distribution, and sale of insulation and other building products to the United States construction industry. The company operates in two segments, Installation and Distribution. It offers rain gutters, garage doors, fireplaces, fireproofing and firestopping products, shower enclosures, closet shelves, accessories, and other building products; and residential insulation services.

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