TopBuild (NYSE:BLD) Trading 6.3% Higher on Strong Earnings

TopBuild Corp. (NYSE:BLD) shares shot up 6.3% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $384.86 and last traded at $384.86. 37,391 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 283,833 shares. The stock had previously closed at $362.13.

The construction company reported $5.68 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.06. TopBuild had a return on equity of 25.72% and a net margin of 11.74%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm posted $5.43 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Evercore ISI decreased their price objective on TopBuild from $491.00 to $443.00 and set an “outperform” rating for the company in a report on Wednesday. DA Davidson reduced their price target on TopBuild from $470.00 to $460.00 and set a “buy” rating for the company in a report on Friday, August 9th. Stephens reduced their price target on TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Jefferies Financial Group reduced their price target on TopBuild from $525.00 to $515.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $441.56.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in TopBuild by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,990,027 shares of the construction company’s stock worth $1,317,795,000 after purchasing an additional 15,965 shares during the last quarter. Liontrust Investment Partners LLP boosted its position in TopBuild by 21.1% in the second quarter. Liontrust Investment Partners LLP now owns 332,050 shares of the construction company’s stock worth $127,929,000 after purchasing an additional 57,880 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in TopBuild in the third quarter worth about $114,220,000. Bank of New York Mellon Corp boosted its position in TopBuild by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 261,965 shares of the construction company’s stock worth $100,927,000 after purchasing an additional 2,133 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of TopBuild by 18.2% during the 1st quarter. Lazard Asset Management LLC now owns 168,423 shares of the construction company’s stock valued at $74,228,000 after buying an additional 25,973 shares in the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

TopBuild Trading Down 1.7 %

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.82 and a current ratio of 2.34. The stock has a market capitalization of $11.20 billion, a PE ratio of 19.09, a PEG ratio of 2.21 and a beta of 1.79. The stock has a 50-day moving average price of $385.53 and a two-hundred day moving average price of $399.50.

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.