TopBuild (NYSE:BLD) Sets New 52-Week High – Here’s What Happened

Shares of TopBuild Corp. (NYSE:BLD) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $491.26 and last traded at $486.3310, with a volume of 255682 shares trading hands. The stock had previously closed at $489.53.

Analyst Ratings Changes

Several research firms have weighed in on BLD. Evercore ISI dropped their target price on TopBuild from $449.00 to $448.00 and set an “in-line” rating for the company in a research report on Wednesday, November 5th. Truist Financial lifted their price objective on shares of TopBuild from $370.00 to $390.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Jefferies Financial Group increased their target price on shares of TopBuild from $518.00 to $536.00 and gave the stock a “buy” rating in a report on Monday, December 15th. The Goldman Sachs Group raised their price target on shares of TopBuild from $450.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Weiss Ratings raised TopBuild from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, December 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, TopBuild has a consensus rating of “Moderate Buy” and an average price target of $439.73.

TopBuild Stock Performance

The stock’s 50-day simple moving average is $434.90 and its 200 day simple moving average is $415.98. The company has a market capitalization of $13.65 billion, a PE ratio of 24.69, a P/E/G ratio of 8.08 and a beta of 1.68. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.45 and a current ratio of 2.90.

TopBuild (NYSE:BLD) last issued its earnings results on Tuesday, November 4th. The construction company reported $5.36 EPS for the quarter, topping analysts’ consensus estimates of $5.22 by $0.14. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. TopBuild had a net margin of 10.84% and a return on equity of 27.10%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.68 earnings per share. As a group, research analysts expect that TopBuild Corp. will post 20.97 earnings per share for the current fiscal year.

Insider Activity at TopBuild

In other news, VP Luis Francisco Machado sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $450.40, for a total transaction of $450,400.00. Following the sale, the vice president owned 9,349 shares of the company’s stock, valued at approximately $4,210,789.60. This trade represents a 9.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.43% of the company’s stock.

Institutional Trading of TopBuild

Institutional investors have recently modified their holdings of the stock. Calamos Advisors LLC acquired a new stake in shares of TopBuild in the 3rd quarter worth $997,000. Westwood Holdings Group Inc. raised its holdings in TopBuild by 10.2% during the second quarter. Westwood Holdings Group Inc. now owns 302,416 shares of the construction company’s stock worth $97,904,000 after purchasing an additional 27,898 shares in the last quarter. Liontrust Investment Partners LLP lifted its position in TopBuild by 24.8% in the second quarter. Liontrust Investment Partners LLP now owns 376,396 shares of the construction company’s stock valued at $121,854,000 after purchasing an additional 74,695 shares during the period. Boston Partners lifted its position in TopBuild by 102.2% in the second quarter. Boston Partners now owns 774,161 shares of the construction company’s stock valued at $250,872,000 after purchasing an additional 391,299 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in TopBuild in the 3rd quarter valued at approximately $1,631,000. Hedge funds and other institutional investors own 95.67% of the company’s stock.

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.