TopBuild (NYSE:BLD) Stock Price Down 5.8% - Here's What Happened

TopBuild Corp. (NYSE:BLD - Get Free Report) shares fell 5.8% during mid-day trading on Monday . The company traded as low as $390.18 and last traded at $390.72. 185,273 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 284,251 shares. The stock had previously closed at $414.77.

Analyst Ratings Changes

A number of brokerages have issued reports on BLD. Evercore ISI upped their target price on TopBuild from $489.00 to $491.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Stephens lowered their target price on TopBuild from $435.00 to $400.00 and set an "equal weight" rating for the company in a report on Thursday, August 8th. Jefferies Financial Group lowered their target price on TopBuild from $525.00 to $515.00 and set a "buy" rating for the company in a report on Wednesday, October 9th. Truist Financial lowered their target price on TopBuild from $410.00 to $395.00 and set a "hold" rating for the company in a report on Wednesday, August 7th. Finally, DA Davidson decreased their price target on TopBuild from $470.00 to $460.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $446.89.

TopBuild Stock Down 5.4 %

The firm has a 50 day moving average of $389.93 and a 200 day moving average of $403.76. The firm has a market cap of $12.49 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 2.45 and a beta of 1.77. The company has a quick ratio of 1.82, a current ratio of 2.34 and a debt-to-equity ratio of 0.57.

TopBuild (NYSE:BLD - Get Free Report) last released its earnings results on Tuesday, August 6th. The construction company reported $5.42 EPS for the quarter, missing the consensus estimate of $5.68 by ($0.26). TopBuild had a return on equity of 25.72% and a net margin of 11.74%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business earned $5.25 EPS. The company's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, sell-side analysts predict that TopBuild Corp. will post 21.08 earnings per share for the current year.

Institutional Investors Weigh In On TopBuild

Several large investors have recently added to or reduced their stakes in BLD. Assenagon Asset Management S.A. boosted its holdings in TopBuild by 0.4% in the second quarter. Assenagon Asset Management S.A. now owns 6,176 shares of the construction company's stock worth $2,379,000 after acquiring an additional 23 shares in the last quarter. Andina Capital Management LLC boosted its holdings in TopBuild by 3.2% in the second quarter. Andina Capital Management LLC now owns 870 shares of the construction company's stock worth $335,000 after acquiring an additional 27 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in TopBuild by 3.5% in the second quarter. CIBC Asset Management Inc now owns 887 shares of the construction company's stock worth $342,000 after acquiring an additional 30 shares in the last quarter. Fifth Third Bancorp boosted its holdings in TopBuild by 10.3% in the second quarter. Fifth Third Bancorp now owns 332 shares of the construction company's stock worth $128,000 after acquiring an additional 31 shares in the last quarter. Finally, Hanseatic Management Services Inc. boosted its holdings in TopBuild by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 1,847 shares of the construction company's stock worth $712,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 95.67% of the company's stock.

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.