TopBuild Corp. (NYSE:BLD) Sees Large Drop in Short Interest

TopBuild Corp. (NYSE:BLD) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 749,800 shares, a decline of 9.1% from the October 15th total of 824,800 shares. Based on an average daily trading volume, of 279,800 shares, the short-interest ratio is currently 2.7 days. Currently, 2.6% of the company’s stock are short sold.

Institutional Trading of TopBuild

Several hedge funds and other institutional investors have recently bought and sold shares of BLD. Ashton Thomas Private Wealth LLC acquired a new position in shares of TopBuild during the 2nd quarter worth $30,000. Allspring Global Investments Holdings LLC bought a new position in TopBuild during the 1st quarter valued at $31,000. Kennebec Savings Bank bought a new position in TopBuild in the 3rd quarter valued at $45,000. Quantbot Technologies LP bought a new stake in TopBuild in the 3rd quarter valued at about $45,000. Finally, UMB Bank n.a. grew its holdings in TopBuild by 87.3% during the 3rd quarter. UMB Bank n.a. now owns 133 shares of the construction company’s stock valued at $54,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company’s stock.

TopBuild Stock Down 0.3 %

BLD stock traded down $1.10 during midday trading on Tuesday, hitting $349.75. The company’s stock had a trading volume of 73,632 shares, compared to its average volume of 286,849. TopBuild has a twelve month low of $291.98 and a twelve month high of $495.68. The stock has a market capitalization of $10.32 billion, a P/E ratio of 17.70, a PEG ratio of 2.19 and a beta of 1.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.01 and a quick ratio of 1.49. The company’s fifty day moving average price is $383.30 and its 200 day moving average price is $397.31.

TopBuild (NYSE:BLD) last announced its quarterly earnings results on Tuesday, November 5th. The construction company reported $5.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.62 by $0.06. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $5.43 EPS. As a group, equities research analysts predict that TopBuild will post 21 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BLD shares. Stephens dropped their target price on TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Evercore ISI dropped their price objective on shares of TopBuild from $491.00 to $443.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. DA Davidson decreased their price target on TopBuild from $460.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Truist Financial dropped their target price on shares of TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group reduced their price target on TopBuild from $525.00 to $515.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $440.44.

TopBuild Company Profile

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.