TopBuild (NYSE:BLD) Issues Quarterly Earnings Results

TopBuild (NYSE:BLD) issued its earnings results on Tuesday. The construction company reported $5.68 earnings per share for the quarter, beating analysts’ consensus estimates of $5.62 by $0.06, Zacks reports. TopBuild had a return on equity of 25.72% and a net margin of 11.74%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the business posted $5.43 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. TopBuild updated its FY 2024 guidance to EPS.

TopBuild Trading Down 2.6 %

NYSE BLD traded down $9.76 during mid-day trading on Wednesday, reaching $367.95. 394,196 shares of the stock were exchanged, compared to its average volume of 287,602. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 1.82. The stock has a market cap of $11.10 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.21 and a beta of 1.79. The stock has a 50 day simple moving average of $385.93 and a 200-day simple moving average of $399.70. TopBuild has a one year low of $262.64 and a one year high of $495.68.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in 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 research note on Wednesday, August 7th. StockNews.com raised shares of TopBuild from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Evercore ISI dropped their price target on TopBuild from $491.00 to $443.00 and set an “outperform” rating for the company in a research note on Wednesday. Stephens reduced their price objective on TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, DA Davidson lowered their target price on TopBuild from $470.00 to $460.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $441.56.

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.