TopBuild (NYSE:BLD) Price Target Raised to $491.00 at Evercore ISI

TopBuild (NYSE:BLD) had its price target raised by Evercore ISI from $489.00 to $491.00 in a research report sent to investors on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the construction company’s stock.

Several other brokerages also recently issued reports on BLD. Truist Financial reduced their price target 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. Jefferies Financial Group dropped their price target on TopBuild from $525.00 to $515.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. StockNews.com downgraded TopBuild from a “buy” rating to a “hold” rating in a research report on Friday, October 11th. Stephens dropped their price objective on TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Finally, DA Davidson reduced their target price on shares of TopBuild from $470.00 to $460.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $446.89.

TopBuild Stock Performance

BLD opened at $408.59 on Wednesday. TopBuild has a 1-year low of $217.08 and a 1-year high of $495.68. The stock has a market cap of $13.00 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.45 and a beta of 1.77. The stock’s 50 day simple moving average is $388.37 and its 200 day simple moving average is $404.36. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 1.82.

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

Hedge Funds Weigh In On TopBuild

A number of hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its holdings in shares of TopBuild by 0.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 6,176 shares of the construction company’s stock worth $2,379,000 after buying an additional 23 shares during the last quarter. Andina Capital Management LLC raised its holdings in TopBuild by 3.2% in the second quarter. Andina Capital Management LLC now owns 870 shares of the construction company’s stock valued at $335,000 after buying an additional 27 shares during the period. CIBC Asset Management Inc lifted its position in TopBuild by 3.5% during the second quarter. CIBC Asset Management Inc now owns 887 shares of the construction company’s stock valued at $342,000 after buying an additional 30 shares in the last quarter. Fifth Third Bancorp grew its stake in TopBuild by 10.3% during the second quarter. Fifth Third Bancorp now owns 332 shares of the construction company’s stock worth $128,000 after buying an additional 31 shares during the period. Finally, Hanseatic Management Services Inc. increased its position in shares of TopBuild by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 1,847 shares of the construction company’s stock worth $712,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds 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.