TopBuild (NYSE:BLD) Shares Down 7% – Here’s Why

TopBuild Corp. (NYSE:BLD) shares were down 7% during mid-day trading on Tuesday . The stock traded as low as $341.78 and last traded at $334.5250. Approximately 318,135 shares traded hands during trading, a decline of 49% from the average daily volume of 619,516 shares. The stock had previously closed at $359.76.

Analyst Ratings Changes

BLD has been the topic of a number of analyst reports. Loop Capital cut shares of TopBuild from a “buy” rating to a “hold” rating and set a $485.00 price objective on the stock. in a report on Wednesday, May 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $496.00 target price (up from $487.00) on shares of TopBuild in a research note on Tuesday, April 21st. UBS Group set a $440.00 target price on shares of TopBuild in a research report on Wednesday, May 6th. Seaport Research Partners restated a “neutral” rating on shares of TopBuild in a research note on Tuesday, April 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of TopBuild in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $460.00.

TopBuild Stock Down 7.2%

The company has a current ratio of 2.00, a quick ratio of 1.41 and a debt-to-equity ratio of 1.16. The stock’s 50-day moving average is $420.18 and its 200-day moving average is $430.92. The stock has a market cap of $9.36 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 5.77 and a beta of 1.80.

TopBuild (NYSE:BLD) last released its quarterly earnings data on Tuesday, May 5th. The construction company reported $3.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.11. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.41 billion. TopBuild had a return on equity of 23.53% and a net margin of 8.95%.TopBuild’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $4.63 earnings per share. As a group, research analysts anticipate that TopBuild Corp. will post 18.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TopBuild

Institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its stake in shares of TopBuild by 2.8% in the 4th quarter. Capital Research Global Investors now owns 3,594,131 shares of the construction company’s stock valued at $1,499,500,000 after acquiring an additional 97,247 shares during the last quarter. Capital International Investors increased its holdings in TopBuild by 71.1% in the 4th quarter. Capital International Investors now owns 1,518,093 shares of the construction company’s stock worth $633,346,000 after purchasing an additional 630,857 shares in the last quarter. Capital World Investors increased its holdings in TopBuild by 0.9% in the 4th quarter. Capital World Investors now owns 872,309 shares of the construction company’s stock worth $363,919,000 after purchasing an additional 7,735 shares in the last quarter. Bank of America Corp DE raised its position in TopBuild by 14.8% in the second quarter. Bank of America Corp DE now owns 847,436 shares of the construction company’s stock valued at $274,349,000 after purchasing an additional 109,572 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of TopBuild by 1.0% during the third quarter. Boston Partners now owns 781,561 shares of the construction company’s stock valued at $305,662,000 after purchasing an additional 7,400 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

TopBuild Company Profile

TopBuild Corp. (NYSE: BLD) is a leading installer and distributor of insulation and building material products serving primarily the U.S. construction market. Headquartered in Daytona Beach, Florida, the company was formed in 2011 as a spin-off from ABF Freight System and has since grown through a combination of organic expansion and targeted acquisitions. TopBuild’s core mission is to enhance energy efficiency and comfort in new residential and light commercial construction projects by providing comprehensive insulation solutions and related services.

The company operates through two main segments.