TopBuild Corp. (NYSE:BLD) Sees Significant Drop in Short Interest

TopBuild Corp. (NYSE:BLD) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 740,500 shares, a decline of 13.6% from the December 15th total of 856,600 shares. Based on an average daily trading volume, of 293,100 shares, the days-to-cover ratio is currently 2.5 days. Approximately 2.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BLD. The Goldman Sachs Group lowered their target price on TopBuild from $475.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Seaport Res Ptn lowered TopBuild from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Evercore ISI lowered TopBuild from an “outperform” rating to an “inline” rating and lowered their target price for the company from $443.00 to $381.00 in a research note on Monday, December 16th. DA Davidson lowered their target price on TopBuild from $460.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $437.00.

TopBuild Stock Performance

Shares of NYSE:BLD traded up $0.86 during midday trading on Friday, reaching $346.72. 210,749 shares of the company traded hands, compared to its average volume of 285,998. TopBuild has a 12 month low of $302.70 and a 12 month high of $495.68. The firm’s fifty day moving average price is $345.83 and its two-hundred day moving average price is $379.09. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.84 and a beta of 1.84.

TopBuild (NYSE:BLD) last posted its earnings results on Tuesday, November 5th. The construction company reported $5.68 EPS for the quarter, topping the consensus estimate of $5.62 by $0.06. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period in the previous year, the business earned $5.43 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. On average, equities analysts expect that TopBuild will post 20.95 earnings per share for the current year.

Hedge Funds Weigh In On TopBuild

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLD. Vaughan Nelson Investment Management L.P. purchased a new position in TopBuild during the third quarter worth about $114,220,000. FMR LLC boosted its holdings in shares of TopBuild by 9.7% in the 3rd quarter. FMR LLC now owns 1,830,493 shares of the construction company’s stock worth $744,663,000 after purchasing an additional 161,743 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of TopBuild by 2,833.6% in the 3rd quarter. Jennison Associates LLC now owns 114,030 shares of the construction company’s stock worth $46,389,000 after purchasing an additional 110,143 shares in the last quarter. Natixis Advisors LLC purchased a new position in shares of TopBuild in the 3rd quarter worth about $41,981,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of TopBuild by 37.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 178,824 shares of the construction company’s stock worth $72,747,000 after purchasing an additional 48,562 shares in the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

About TopBuild

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.