DA Davidson Issues Pessimistic Outlook for TopBuild Earnings

TopBuild Corp. (NYSE:BLD) – Equities research analysts at DA Davidson cut their Q3 2024 earnings estimates for TopBuild in a note issued to investors on Thursday, October 24th. DA Davidson analyst K. Yinger now anticipates that the construction company will post earnings of $5.60 per share for the quarter, down from their prior forecast of $5.80. DA Davidson has a “Buy” rating and a $460.00 price target on the stock. The consensus estimate for TopBuild’s current full-year earnings is $21.08 per share. DA Davidson also issued estimates for TopBuild’s FY2024 earnings at $20.94 EPS and FY2025 earnings at $22.47 EPS.

TopBuild (NYSE:BLD) last issued its quarterly earnings data on Tuesday, August 6th. The construction company reported $5.42 earnings per share for the quarter, missing the consensus estimate of $5.68 by ($0.26). The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.40 billion. TopBuild had a return on equity of 25.72% and a net margin of 11.74%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.25 EPS.

Several other analysts also recently weighed in on the stock. StockNews.com upgraded shares of TopBuild from a “hold” rating to a “buy” rating in a research report on Tuesday. Evercore ISI boosted their price objective on shares of TopBuild from $489.00 to $491.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. 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. Stephens reduced their price target on shares of 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, Truist Financial reduced their price target on shares of TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, TopBuild currently has a consensus rating of “Moderate Buy” and a consensus price target of $446.89.

TopBuild Stock Down 3.9 %

Shares of NYSE:BLD opened at $356.05 on Monday. The company has a market capitalization of $11.33 billion, a PE ratio of 17.95, a P/E/G ratio of 2.45 and a beta of 1.77. The company has a current ratio of 2.34, a quick ratio of 1.82 and a debt-to-equity ratio of 0.57. TopBuild has a twelve month low of $217.84 and a twelve month high of $495.68. The firm has a 50 day simple moving average of $389.43 and a 200-day simple moving average of $400.89.

Hedge Funds Weigh In On TopBuild

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its stake 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 purchasing an additional 23 shares during the period. Andina Capital Management LLC boosted its position 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 worth $335,000 after buying an additional 27 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of TopBuild by 3.5% in the 2nd quarter. CIBC Asset Management Inc now owns 887 shares of the construction company’s stock worth $342,000 after buying an additional 30 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of TopBuild by 10.3% in the 2nd quarter. Fifth Third Bancorp now owns 332 shares of the construction company’s stock worth $128,000 after buying an additional 31 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its position in shares of TopBuild by 1.7% in the 2nd quarter. Hanseatic Management Services Inc. now owns 1,847 shares of the construction company’s stock worth $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.

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.