TopBuild Corp. (NYSE:BLD) Short Interest Up 8.5% in March

TopBuild Corp. (NYSE:BLD) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 571,400 shares, a growth of 8.5% from the March 15th total of 526,400 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 248,500 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

BLD has been the subject of a number of recent analyst reports. Truist Financial downgraded shares of TopBuild from a “buy” rating to a “hold” rating and raised their price target for the stock from $290.00 to $410.00 in a report on Thursday, January 4th. DA Davidson initiated coverage on shares of TopBuild in a research note on Tuesday, March 5th. They set a “buy” rating and a $470.00 target price for the company. Benchmark upped their price objective on shares of TopBuild from $320.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Bank of America lifted their target price on shares of TopBuild from $410.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Finally, The Goldman Sachs Group upped their price target on TopBuild from $419.00 to $429.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $401.40.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BLD. Ausbil Investment Management Ltd grew its holdings in shares of TopBuild by 31.0% during the first quarter. Ausbil Investment Management Ltd now owns 7,184 shares of the construction company’s stock worth $3,149,000 after buying an additional 1,700 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of TopBuild by 25.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,913 shares of the construction company’s stock valued at $843,000 after purchasing an additional 390 shares during the period. Apella Capital LLC acquired a new position in shares of TopBuild in the first quarter valued at approximately $217,000. Rise Advisors LLC purchased a new stake in shares of TopBuild during the first quarter worth approximately $37,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of TopBuild by 2.6% during the first quarter. Los Angeles Capital Management LLC now owns 48,314 shares of the construction company’s stock worth $21,293,000 after purchasing an additional 1,240 shares during the period. 95.67% of the stock is currently owned by institutional investors and hedge funds.

TopBuild Stock Down 2.7 %

TopBuild stock traded down $11.04 during mid-day trading on Wednesday, hitting $400.00. The company had a trading volume of 612,904 shares, compared to its average volume of 204,876. The business has a fifty day moving average of $412.68 and a 200 day moving average of $346.97. TopBuild has a 1 year low of $198.82 and a 1 year high of $452.87. The company has a quick ratio of 2.18, a current ratio of 2.66 and a debt-to-equity ratio of 0.54. The stock has a market cap of $12.73 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 2.24 and a beta of 1.66.

TopBuild (NYSE:BLD) last released its quarterly earnings data on Wednesday, February 28th. The construction company reported $4.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.60 by $0.09. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.29 billion. TopBuild had a net margin of 11.82% and a return on equity of 27.03%. TopBuild’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.40 earnings per share. On average, sell-side analysts expect that TopBuild will post 21.01 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.