TopBuild (NYSE:BLD) Reaches New 52-Week High - Here's What Happened

Key Points

• TopBuild Corp. reached a new 52-week high with its shares trading at $429.96, marking a significant increase from the previous close of $415.09.
• Multiple analysts have recently updated their price targets for TopBuild, with most ratings indicating a consensus of "Moderate Buy" and a target price average of $394.67.
• The company reported an EPS of $5.31 for the last quarter, outperforming analyst expectations while experiencing a 5% year-over-year revenue decline.

TopBuild Corp. (NYSE:BLD - Get Free Report)'s share price reached a new 52-week high on Wednesday . The stock traded as high as $429.96 and last traded at $429.46, with a volume of 499007 shares trading hands. The stock had previously closed at $415.09.

Wall Street Analyst Weigh In

BLD has been the subject of several analyst reports. Loop Capital increased their price target on shares of TopBuild from $360.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. DA Davidson dropped their price target on shares of TopBuild from $435.00 to $395.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. increased their price target on shares of TopBuild from $344.00 to $398.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Bank of America increased their price target on shares of TopBuild from $320.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, UBS Group set a $370.00 price objective on shares of TopBuild and gave the stock a "hold" rating in a research report on Tuesday, August 5th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $394.67.

TopBuild Price Performance

The stock has a market cap of $12.08 billion, a PE ratio of 21.15, a PEG ratio of 5.55 and a beta of 1.63. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.29 and a current ratio of 2.83. The stock's 50-day moving average is $350.80 and its two-hundred day moving average is $319.76.

TopBuild (NYSE:BLD - Get Free Report) last released its earnings results on Tuesday, August 5th. The construction company reported $5.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.07 by $0.24. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.30 billion. TopBuild had a net margin of 11.40% and a return on equity of 28.32%. The firm's quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $5.42 EPS. On average, equities analysts predict that TopBuild Corp. will post 20.97 earnings per share for the current year.

Insider Buying and Selling at TopBuild

In other TopBuild news, CEO Robert M. Buck sold 7,350 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $415.19, for a total transaction of $3,051,646.50. Following the sale, the chief executive officer directly owned 73,225 shares in the company, valued at $30,402,287.75. This represents a 9.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert M. Kuhns sold 2,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $416.10, for a total transaction of $832,200.00. Following the sale, the chief financial officer owned 15,633 shares in the company, valued at approximately $6,504,891.30. This trade represents a 11.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,313 shares of company stock valued at $5,118,903 in the last quarter. Corporate insiders own 0.43% of the company's stock.

Institutional Investors Weigh In On TopBuild

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MAI Capital Management raised its holdings in shares of TopBuild by 28.3% in the 2nd quarter. MAI Capital Management now owns 118 shares of the construction company's stock valued at $38,000 after purchasing an additional 26 shares in the last quarter. Secure Asset Management LLC raised its holdings in shares of TopBuild by 1.3% in the 2nd quarter. Secure Asset Management LLC now owns 2,169 shares of the construction company's stock valued at $702,000 after purchasing an additional 27 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of TopBuild by 8.0% in the 2nd quarter. UMB Bank n.a. now owns 364 shares of the construction company's stock valued at $118,000 after purchasing an additional 27 shares in the last quarter. Snowden Capital Advisors LLC raised its holdings in shares of TopBuild by 2.5% in the 4th quarter. Snowden Capital Advisors LLC now owns 1,377 shares of the construction company's stock valued at $429,000 after purchasing an additional 33 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of TopBuild by 2.0% in the 2nd quarter. Franklin Resources Inc. now owns 1,713 shares of the construction company's stock valued at $555,000 after purchasing an additional 34 shares in the last quarter. 95.67% of the stock is currently owned by institutional investors and hedge funds.

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.

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