TopBuild Corp.’s (BLD) Buy Rating Reaffirmed at SunTrust Banks, Inc.
SunTrust Banks, Inc. restated their buy rating on shares of TopBuild Corp. (NYSE:BLD) in a report released on Wednesday morning. SunTrust Banks, Inc. currently has a $75.00 target price on the construction company’s stock. SunTrust Banks also issued estimates for TopBuild Corp.’s Q3 2017 earnings at $0.83 EPS, Q3 2017 earnings at $0.81 EPS, Q4 2017 earnings at $0.81 EPS, FY2017 earnings at $2.77 EPS, FY2017 earnings at $2.75 EPS, Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $1.08 EPS, Q4 2018 earnings at $0.95 EPS, FY2018 earnings at $3.58 EPS and FY2019 earnings at $4.46 EPS.
A number of other research firms have also recently weighed in on BLD. TheStreet raised TopBuild Corp. from a c rating to a b- rating in a research report on Friday, June 16th. Zacks Investment Research raised TopBuild Corp. from a hold rating to a strong-buy rating and set a $67.00 price objective for the company in a research report on Thursday, August 10th. KeyCorp reaffirmed an overweight rating and set a $59.00 price objective (up from $56.00) on shares of TopBuild Corp. in a research report on Monday, June 26th. Finally, BidaskClub cut TopBuild Corp. from a strong-buy rating to a buy rating in a research report on Friday, August 25th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $58.00.
Shares of TopBuild Corp. (BLD) traded down 1.08% on Wednesday, reaching $64.90. The company had a trading volume of 183,478 shares. TopBuild Corp. has a 52 week low of $28.81 and a 52 week high of $67.27. The company’s 50-day moving average price is $61.65 and its 200 day moving average price is $61.65. The firm has a market capitalization of $2.36 billion, a P/E ratio of 35.98 and a beta of 0.64.
TopBuild Corp. (NYSE:BLD) last posted its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. TopBuild Corp. had a return on equity of 9.09% and a net margin of 3.73%. The company had revenue of $474.50 million during the quarter, compared to analysts’ expectations of $477.72 million. During the same period last year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts expect that TopBuild Corp. will post $2.80 EPS for the current year.
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In other TopBuild Corp. news, CEO Gerald Volas sold 44,356 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $56.81, for a total transaction of $2,519,864.36. Following the completion of the sale, the chief executive officer now directly owns 149,201 shares of the company’s stock, valued at approximately $8,476,108.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of BLD. Russell Investments Group Ltd. raised its stake in shares of TopBuild Corp. by 24.6% during the 1st quarter. Russell Investments Group Ltd. now owns 32,131 shares of the construction company’s stock worth $1,510,000 after buying an additional 6,349 shares in the last quarter. First Trust Advisors LP raised its stake in shares of TopBuild Corp. by 19.6% during the 1st quarter. First Trust Advisors LP now owns 72,259 shares of the construction company’s stock worth $3,396,000 after buying an additional 11,844 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of TopBuild Corp. by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 546,698 shares of the construction company’s stock worth $25,694,000 after buying an additional 14,266 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of TopBuild Corp. by 9.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,223 shares of the construction company’s stock worth $386,000 after buying an additional 740 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of TopBuild Corp. by 47.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 15,622 shares of the construction company’s stock worth $734,000 after buying an additional 5,030 shares in the last quarter. 92.01% of the stock is owned by institutional investors and hedge funds.
About TopBuild Corp.
TopBuild Corp. installs and distributes insulation products to the United States construction industry. The Company operates through two segments: Installation (TruTeam) and Distribution (Service Partners). Its Installation segment principally includes the sales and installation of insulation and other building products.
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