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

TopBuild Corp. (NYSE:BLD) saw a significant decline in short interest in 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 volume of 279,800 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BLD. Evercore ISI reduced their price objective on shares of TopBuild from $491.00 to $443.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Jefferies Financial Group reduced their price target on shares of TopBuild from $525.00 to $515.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Truist Financial lowered their price objective on TopBuild from $410.00 to $395.00 and set a “hold” rating on the stock in a research report on Wednesday, August 7th. DA Davidson reduced their target price on TopBuild from $460.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Stephens lowered their price target on TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Two research 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $440.44.

Institutional Trading of TopBuild

Hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC grew its position in TopBuild by 18.2% in the 1st quarter. Lazard Asset Management LLC now owns 168,423 shares of the construction company’s stock valued at $74,228,000 after acquiring an additional 25,973 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of TopBuild by 6.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,258 shares of the construction company’s stock valued at $5,493,000 after purchasing an additional 820 shares during the last quarter. Vanguard Group Inc. boosted its holdings in TopBuild by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,990,027 shares of the construction company’s stock worth $1,317,795,000 after acquiring an additional 15,965 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in TopBuild by 29.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 130,738 shares of the construction company’s stock worth $56,489,000 after purchasing an additional 30,000 shares during the last quarter. Finally, River Global Investors LLP grew its holdings in shares of TopBuild by 27.3% during the third quarter. River Global Investors LLP now owns 6,930 shares of the construction company’s stock valued at $2,818,000 after buying an additional 1,485 shares during the last quarter. 95.67% of the stock is currently owned by hedge funds and other institutional investors.

TopBuild Stock Performance

Shares of BLD stock traded up $3.81 during trading hours on Monday, reaching $350.85. The company had a trading volume of 259,937 shares, compared to its average volume of 287,805. The business has a fifty day moving average price of $383.30 and a 200-day moving average price of $397.31. The firm has a market cap of $10.35 billion, a PE 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 quick ratio of 1.49 and a current ratio of 2.01. TopBuild has a one year low of $291.98 and a one year high of $495.68.

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. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the business earned $5.43 earnings per share. TopBuild’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side 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.