Wall Street brokerages expect that TopBuild Corp (NYSE:BLD) will post sales of $671.20 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for TopBuild’s earnings. The highest sales estimate is $680.30 million and the lowest is $665.10 million. TopBuild posted sales of $647.29 million during the same quarter last year, which would indicate a positive year over year growth rate of 3.7%. The business is expected to issue its next quarterly earnings report on Tuesday, November 5th.
On average, analysts expect that TopBuild will report full year sales of $2.62 billion for the current fiscal year, with estimates ranging from $2.61 billion to $2.63 billion. For the next financial year, analysts expect that the firm will report sales of $2.75 billion, with estimates ranging from $2.73 billion to $2.76 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for TopBuild.
TopBuild (NYSE:BLD) last issued its quarterly earnings results on Thursday, August 1st. The construction company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.15. TopBuild had a return on equity of 15.65% and a net margin of 6.67%. The firm had revenue of $660.10 million for the quarter, compared to analyst estimates of $670.66 million. During the same period in the previous year, the company posted $1.06 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year.
Several brokerages recently issued reports on BLD. Nomura restated a “neutral” rating and set a $85.00 price target (down from $90.00) on shares of TopBuild in a research note on Thursday, May 16th. Buckingham Research boosted their price target on TopBuild from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Zacks Investment Research upgraded TopBuild from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Tuesday, April 30th. ValuEngine lowered TopBuild from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Finally, Zelman & Associates upgraded TopBuild from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $75.14.
BLD traded up $0.53 on Wednesday, hitting $90.30. 278,200 shares of the stock traded hands, compared to its average volume of 353,848. TopBuild has a 52 week low of $41.27 and a 52 week high of $92.07. The company has a current ratio of 1.63, a quick ratio of 1.31 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $3.10 billion, a PE ratio of 21.55, a P/E/G ratio of 0.61 and a beta of 0.86. The business has a fifty day moving average price of $84.30 and a two-hundred day moving average price of $73.44.
In other TopBuild news, CEO Gerald Volas sold 52,206 shares of TopBuild stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $81.16, for a total transaction of $4,237,038.96. Following the sale, the chief executive officer now directly owns 202,919 shares of the company’s stock, valued at $16,468,906.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Cushen sold 8,254 shares of TopBuild stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $88.47, for a total value of $730,231.38. Following the sale, the vice president now directly owns 11,984 shares in the company, valued at $1,060,224.48. The disclosure for this sale can be found here. Insiders have sold 95,648 shares of company stock worth $8,117,268 over the last ninety days. Company insiders own 2.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in BLD. Westfield Capital Management Co. LP acquired a new position in shares of TopBuild in the 1st quarter worth approximately $35,170,000. Norges Bank acquired a new position in shares of TopBuild in the 4th quarter worth approximately $20,513,000. Invesco Ltd. boosted its holdings in shares of TopBuild by 45.1% in the 2nd quarter. Invesco Ltd. now owns 587,216 shares of the construction company’s stock worth $48,598,000 after acquiring an additional 182,591 shares in the last quarter. Morgan Stanley boosted its holdings in shares of TopBuild by 364.8% in the 2nd quarter. Morgan Stanley now owns 218,912 shares of the construction company’s stock worth $18,117,000 after acquiring an additional 171,813 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of TopBuild in the 2nd quarter worth approximately $12,667,000. 93.53% of the stock is currently owned by institutional investors and hedge funds.
TopBuild Corp. engages in the installation, distribution, and sale of insulation and other building products to the United States construction industry. The company operates in two segments, Installation and Distribution. It offers rain gutters, garage doors, fireplaces, fireproofing and firestopping products, shower enclosures, closet shelves, accessories, and other building products; and residential insulation services.
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