Zacks Investment Research Downgrades TopBuild (BLD) to Hold
TopBuild (NYSE:BLD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “TopBuild Corp. is the installer and distributor of insulation products to the construction industry primarily in the United States. The company also installs and distributes other building products, which consists of rain gutters, garage doors, fireplaces, shower enclosures, closet shelving and roofing. It offers insulation installation services. TopBuild Corp. TopBuild Corp. is headquartered in Daytona Beach, FL. “
A number of other research firms have also recently issued reports on BLD. Jefferies Group started coverage on TopBuild in a research report on Tuesday, December 12th. They issued a “buy” rating and a $79.00 price objective for the company. ValuEngine cut TopBuild from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. SunTrust Banks lifted their price target on TopBuild to $82.00 and gave the stock a “reduce” rating in a report on Wednesday, February 28th. Finally, Nomura set a $100.00 price target on TopBuild and gave the stock a “buy” rating in a report on Tuesday, March 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $76.00.
TopBuild (NYSE:BLD) last released its quarterly earnings data on Tuesday, February 27th. The construction company reported $0.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. TopBuild had a return on equity of 10.65% and a net margin of 8.30%. The company had revenue of $501.40 million during the quarter, compared to analysts’ expectations of $491.80 million. During the same period last year, the firm posted $0.59 earnings per share. The business’s revenue was up 12.9% on a year-over-year basis. sell-side analysts anticipate that TopBuild will post 4.01 EPS for the current year.
In related news, insider Robert M. Buck sold 23,112 shares of TopBuild stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $74.12, for a total transaction of $1,713,061.44. Following the completion of the sale, the insider now directly owns 73,917 shares of the company’s stock, valued at approximately $5,478,728.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John S. Peterson sold 6,932 shares of TopBuild stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $75.36, for a total value of $522,395.52. Following the sale, the chief financial officer now directly owns 34,943 shares of the company’s stock, valued at $2,633,304.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,271 shares of company stock valued at $2,405,043. 1.30% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Rothschild Asset Management Inc. bought a new position in TopBuild during the 3rd quarter worth $30,954,000. Emerald Advisers Inc. PA bought a new position in TopBuild during the 4th quarter worth $12,771,000. Westfield Capital Management Co. LP increased its stake in TopBuild by 42.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 477,315 shares of the construction company’s stock worth $31,107,000 after acquiring an additional 141,310 shares during the period. Ranger Investment Management L.P. bought a new position in TopBuild during the 4th quarter worth $10,384,000. Finally, Goldman Sachs Group Inc. increased its stake in TopBuild by 10.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,183,511 shares of the construction company’s stock worth $89,639,000 after acquiring an additional 110,431 shares during the period. 94.66% of the stock is owned by institutional investors and hedge funds.
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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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