Short Interest in TopBuild Corp. (NYSE:BLD) Decreases By 9.1%

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

Hedge Funds Weigh In On TopBuild

A number of hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its stake in TopBuild by 0.4% in the second quarter. Assenagon Asset Management S.A. now owns 6,176 shares of the construction company’s stock valued at $2,379,000 after purchasing an additional 23 shares in the last quarter. Andina Capital Management LLC grew its stake in shares of TopBuild by 3.2% in the 2nd 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 in the last quarter. CIBC Asset Management Inc increased its holdings in TopBuild by 3.5% in the second quarter. CIBC Asset Management Inc now owns 887 shares of the construction company’s stock worth $342,000 after buying an additional 30 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of TopBuild by 10.3% during the 2nd quarter. Fifth Third Bancorp now owns 332 shares of the construction company’s stock valued at $128,000 after purchasing an additional 31 shares in the last quarter. Finally, Hanseatic Management Services Inc. raised its holdings in TopBuild by 1.7% during the second quarter. Hanseatic Management Services Inc. now owns 1,847 shares of the construction company’s stock valued at $712,000 after buying an additional 31 shares in the last quarter. 95.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BLD shares. StockNews.com raised TopBuild from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Stephens reduced their price objective on shares of TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Truist Financial reduced their target price on TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a report on Wednesday, August 7th. DA Davidson decreased their target price on shares of TopBuild from $460.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Jefferies Financial Group reduced their price objective on TopBuild from $525.00 to $515.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, TopBuild presently has an average rating of “Moderate Buy” and an average target price of $440.44.

TopBuild Trading Down 0.5 %

NYSE BLD traded down $1.65 on Tuesday, hitting $349.20. 62,724 shares of the company were exchanged, compared to its average volume of 286,800. TopBuild has a twelve month low of $291.98 and a twelve month high of $495.68. The company’s 50 day moving average price is $383.30 and its 200-day moving average price is $397.31. The firm has a market capitalization of $10.30 billion, a P/E ratio of 17.70, a price-to-earnings-growth 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.

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

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.