TopBuild Corp. (NYSE:BLD) Sees Significant Growth in Short Interest

TopBuild Corp. (NYSE:BLD) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 813,700 shares, an increase of 8.5% from the October 31st total of 749,800 shares. Based on an average daily trading volume, of 287,700 shares, the days-to-cover ratio is presently 2.8 days. Currently, 2.8% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in TopBuild in the 3rd quarter valued at about $31,000. World Investment Advisors LLC acquired a new position in TopBuild during the 3rd quarter worth $54,000. Anchor Investment Management LLC increased its stake in shares of TopBuild by 10.3% in the 3rd quarter. Anchor Investment Management LLC now owns 888 shares of the construction company’s stock valued at $361,000 after buying an additional 83 shares during the period. Fortem Financial Group LLC raised its position in shares of TopBuild by 450.8% during the third quarter. Fortem Financial Group LLC now owns 5,233 shares of the construction company’s stock worth $2,129,000 after acquiring an additional 4,283 shares during the last quarter. Finally, TT International Asset Management LTD raised its position in shares of TopBuild by 199.5% during the third quarter. TT International Asset Management LTD now owns 14,087 shares of the construction company’s stock worth $5,730,000 after acquiring an additional 9,383 shares during the last quarter. 95.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BLD has been the subject of several recent research reports. Stephens cut their price target on TopBuild from $435.00 to $400.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Truist Financial reduced their target price on TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a research report on Wednesday, August 7th. StockNews.com upgraded shares of TopBuild from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group dropped their price objective on shares of TopBuild from $525.00 to $515.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, DA Davidson decreased their target price on shares of TopBuild from $460.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $440.44.

TopBuild Price Performance

TopBuild stock traded down $9.65 during trading hours on Wednesday, hitting $383.04. 162,834 shares of the stock were exchanged, compared to its average volume of 287,413. TopBuild has a 12 month low of $308.01 and a 12 month high of $495.68. The business’s 50-day moving average is $380.66 and its two-hundred day moving average is $395.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.49 and a current ratio of 2.01. The stock has a market capitalization of $11.30 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.45 and a beta of 1.79.

TopBuild (NYSE:BLD) last released its quarterly earnings results on Tuesday, November 5th. The construction company reported $5.68 earnings per share for the quarter, beating analysts’ consensus estimates of $5.62 by $0.06. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. TopBuild had a return on equity of 26.40% and a net margin of 11.66%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $5.43 EPS. Equities research analysts expect that TopBuild will post 20.99 EPS for the current fiscal year.

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.