TopBuild (BLD) Shares Up 2% Following Earnings Beat

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TopBuild Corp (NYSE:BLD) shot up 2% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $55.98 and last traded at $53.15. 20,284 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 424,885 shares. The stock had previously closed at $52.09.

The construction company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.01. TopBuild had a net margin of 9.10% and a return on equity of 12.42%. The company had revenue of $647.30 million during the quarter, compared to analysts’ expectations of $643.65 million. During the same quarter last year, the company posted $0.83 EPS. The firm’s revenue was up 32.4% compared to the same quarter last year.

Several brokerages have commented on BLD. SunTrust Banks decreased their price target on shares of TopBuild to $70.00 and set a “buy” rating for the company in a research report on Wednesday. Zacks Investment Research cut shares of TopBuild from a “hold” rating to a “sell” rating in a research report on Tuesday. Stephens cut shares of TopBuild from an “overweight” rating to an “equal” rating and set a $52.00 price objective for the company. in a research report on Thursday, October 18th. ValuEngine cut shares of TopBuild from a “sell” rating to a “strong sell” rating in a research report on Friday, September 28th. Finally, Macquarie decreased their price objective on shares of TopBuild from $83.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, September 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $84.70.

In other news, insider Robert M. Buck sold 17,766 shares of TopBuild stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $77.40, for a total transaction of $1,375,088.40. Following the completion of the sale, the insider now directly owns 62,696 shares of the company’s stock, valued at approximately $4,852,670.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John S. Peterson sold 1,887 shares of TopBuild stock in a transaction on Friday, August 10th. The stock was sold at an average price of $77.28, for a total transaction of $145,827.36. Following the sale, the vice president now directly owns 33,927 shares of the company’s stock, valued at $2,621,878.56. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BLD. Stifel Financial Corp lifted its position in TopBuild by 24.8% in the first quarter. Stifel Financial Corp now owns 3,352 shares of the construction company’s stock valued at $258,000 after acquiring an additional 666 shares during the last quarter. LPL Financial LLC lifted its position in TopBuild by 7.0% in the first quarter. LPL Financial LLC now owns 12,588 shares of the construction company’s stock valued at $963,000 after acquiring an additional 821 shares during the last quarter. Legal & General Group Plc lifted its position in TopBuild by 4.0% in the first quarter. Legal & General Group Plc now owns 73,877 shares of the construction company’s stock valued at $5,654,000 after acquiring an additional 2,821 shares during the last quarter. Royal Bank of Canada lifted its position in TopBuild by 44.4% in the first quarter. Royal Bank of Canada now owns 2,600 shares of the construction company’s stock valued at $199,000 after acquiring an additional 800 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in TopBuild by 2.5% in the first quarter. Principal Financial Group Inc. now owns 297,491 shares of the construction company’s stock valued at $22,764,000 after acquiring an additional 7,202 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 19.12 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.18 and a current ratio of 1.56.

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About TopBuild (NYSE:BLD)

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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