DA Davidson Has Strong Estimate for TopBuild FY2024 Earnings

TopBuild Corp. (NYSE:BLDFree Report) – Analysts at DA Davidson lifted their FY2024 earnings per share estimates for shares of TopBuild in a research note issued to investors on Thursday, November 7th. DA Davidson analyst K. Yinger now anticipates that the construction company will earn $21.03 per share for the year, up from their prior estimate of $20.94. DA Davidson currently has a “Buy” rating and a $450.00 target price on the stock. The consensus estimate for TopBuild’s current full-year earnings is $21.06 per share. DA Davidson also issued estimates for TopBuild’s FY2025 earnings at $22.85 EPS.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group reduced their price target on shares of TopBuild from $525.00 to $515.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Truist Financial decreased their target price on TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Evercore ISI cut their price target on TopBuild from $491.00 to $443.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. StockNews.com raised TopBuild from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Stephens decreased their price target on TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, TopBuild currently has an average rating of “Moderate Buy” and an average target price of $440.44.

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TopBuild Stock Performance

TopBuild stock opened at $359.38 on Monday. The firm has a 50-day moving average of $383.97 and a 200-day moving average of $398.82. TopBuild has a 1-year low of $266.42 and a 1-year high of $495.68. The firm has a market cap of $10.60 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.32 and a beta of 1.79. The company has a current ratio of 2.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.64.

TopBuild (NYSE:BLDGet Free Report) last released its quarterly earnings data on Tuesday, November 5th. The construction company reported $5.68 EPS for the quarter, topping the consensus estimate of $5.62 by $0.06. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.43 earnings per share.

Institutional Investors Weigh In On TopBuild

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pitcairn Co. lifted its stake in TopBuild by 178.2% in the third quarter. Pitcairn Co. now owns 2,220 shares of the construction company’s stock worth $903,000 after purchasing an additional 1,422 shares during the last quarter. Cerity Partners LLC raised its position in shares of TopBuild by 369.7% in the 3rd quarter. Cerity Partners LLC now owns 6,900 shares of the construction company’s stock worth $2,807,000 after acquiring an additional 5,431 shares in the last quarter. Icon Wealth Advisors LLC boosted its holdings in shares of TopBuild by 704.6% in the 3rd quarter. Icon Wealth Advisors LLC now owns 2,293 shares of the construction company’s stock valued at $933,000 after buying an additional 2,008 shares in the last quarter. Citigroup Inc. boosted its position in shares of TopBuild by 41.7% in the 3rd quarter. Citigroup Inc. now owns 30,877 shares of the construction company’s stock worth $12,561,000 after purchasing an additional 9,087 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in TopBuild by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 233,414 shares of the construction company’s stock valued at $94,955,000 after purchasing an additional 5,982 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

About TopBuild

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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.

Further Reading

Earnings History and Estimates for TopBuild (NYSE:BLD)

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