TopBuild (NYSE:BLD) Shares Gap Down – Here’s Why

TopBuild Corp. (NYSE:BLD)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $370.55, but opened at $349.90. TopBuild shares last traded at $347.70, with a volume of 24,264 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DA Davidson lowered their price objective on shares of TopBuild from $470.00 to $460.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Jefferies Financial Group lowered their price target on shares of TopBuild from $525.00 to $515.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. Truist Financial cut their price objective on shares of TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Evercore ISI boosted their price target on TopBuild from $489.00 to $491.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $446.89.

TopBuild Stock Up 0.0 %

The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 1.82. The firm has a market cap of $11.33 billion, a P/E ratio of 17.95, a PEG ratio of 2.45 and a beta of 1.77. The firm’s 50-day moving average price is $388.75 and its 200 day moving average price is $400.58.

TopBuild (NYSE:BLD) last released its earnings results on Tuesday, August 6th. The construction company reported $5.42 EPS for the quarter, missing analysts’ consensus estimates of $5.68 by ($0.26). TopBuild had a return on equity of 25.72% and a net margin of 11.74%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the business earned $5.25 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities research analysts expect that TopBuild Corp. will post 21.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TopBuild

A number of institutional investors have recently modified their holdings of BLD. Vanguard Group Inc. lifted its holdings in shares of TopBuild by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 2,990,027 shares of the construction company’s stock worth $1,317,795,000 after purchasing an additional 15,965 shares during the last quarter. Liontrust Investment Partners LLP increased its position in TopBuild by 21.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 332,050 shares of the construction company’s stock valued at $127,929,000 after acquiring an additional 57,880 shares during the period. Bank of New York Mellon Corp raised its stake in TopBuild by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 261,965 shares of the construction company’s stock valued at $100,927,000 after acquiring an additional 2,133 shares in the last quarter. Lazard Asset Management LLC boosted its position in TopBuild by 18.2% during the 1st quarter. Lazard Asset Management LLC now owns 168,423 shares of the construction company’s stock worth $74,228,000 after acquiring an additional 25,973 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of TopBuild by 7.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 140,738 shares of the construction company’s stock worth $53,097,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 95.67% of the company’s stock.

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.