TopBuild (BLD) Shares Up 8.1%
Shares of TopBuild Corp (NYSE:BLD) shot up 8.1% during mid-day trading on Monday . The company traded as high as $74.72 and last traded at $74.30. 783,219 shares changed hands during trading, an increase of 207% from the average session volume of 255,271 shares. The stock had previously closed at $68.74.
A number of brokerages have recently issued reports on BLD. Nomura upgraded TopBuild from a “neutral” rating to a “buy” rating and lifted their price target for the company from $69.00 to $78.00 in a research report on Monday. Jefferies Group began coverage on TopBuild in a research report on Tuesday, December 12th. They set a “buy” rating and a $79.00 price target for the company. BidaskClub downgraded TopBuild from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 25th. SunTrust Banks reiterated a “buy” rating and set a $75.00 price target on shares of TopBuild in a research report on Wednesday, October 4th. Finally, ValuEngine downgraded TopBuild from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. TopBuild presently has a consensus rating of “Buy” and an average price target of $65.71.
The firm has a market capitalization of $2,643.55, a price-to-earnings ratio of 29.14 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.02 and a current ratio of 1.36.
Several hedge funds and other institutional investors have recently made changes to their positions in BLD. Strs Ohio purchased a new position in TopBuild in the 2nd quarter worth approximately $440,000. Daiwa Securities Group Inc. purchased a new position in TopBuild in the 2nd quarter worth approximately $111,000. Schwab Charles Investment Management Inc. increased its stake in TopBuild by 11.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 179,146 shares of the construction company’s stock worth $9,508,000 after purchasing an additional 19,007 shares during the period. First Mercantile Trust Co. purchased a new position in TopBuild in the 2nd quarter worth approximately $213,000. Finally, Bank of New York Mellon Corp increased its stake in TopBuild by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 552,248 shares of the construction company’s stock worth $29,307,000 after purchasing an additional 5,550 shares during the period. 94.87% of the stock is currently owned by institutional investors.
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TopBuild Company Profile
TopBuild Corp. installs and distributes insulation products to the United States construction industry. The Company operates through two segments: Installation (TruTeam) and Distribution (Service Partners). Its Installation segment principally includes the sales and installation of insulation and other building products.
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