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

TopBuild Corp (NYSE:BLD) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 1,350,200 shares, a growth of 8.9% from the May 15th total of 1,240,200 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average daily trading volume, of 320,100 shares, the days-to-cover ratio is currently 4.2 days.

A number of equities research analysts have commented on the stock. SunTrust Banks increased their price objective on shares of HubSpot to $205.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. ValuEngine lowered shares of TopBuild from a “buy” rating to a “hold” rating in a report on Tuesday, May 21st. Nomura reissued a “neutral” rating and set a $48.00 price objective (down previously from $70.00) on shares of Owens Corning in a report on Thursday, May 16th. Buckingham Research set a $19.00 target price on shares of Adient and gave the company a “sell” rating in a research report on Wednesday, May 8th. Finally, Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. TopBuild currently has a consensus rating of “Buy” and a consensus target price of $75.75.

In other TopBuild news, insider Robert M. Buck sold 5,877 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $81.31, for a total transaction of $477,858.87. Following the sale, the insider now owns 51,911 shares of the company’s stock, valued at approximately $4,220,883.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gerald Volas sold 52,206 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $81.16, for a total transaction of $4,237,038.96. Following the sale, the chief executive officer now directly owns 202,919 shares in the company, valued at approximately $16,468,906.04. The disclosure for this sale can be found here. Insiders sold a total of 65,583 shares of company stock worth $5,357,878 in the last three months. Insiders own 2.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Pearl River Capital LLC grew its stake in shares of TopBuild by 542.0% during the 1st quarter. Pearl River Capital LLC now owns 642 shares of the construction company’s stock worth $42,000 after acquiring an additional 542 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of TopBuild by 685.7% in the first quarter. Versant Capital Management Inc now owns 715 shares of the construction company’s stock valued at $46,000 after buying an additional 624 shares in the last quarter. Strs Ohio bought a new position in shares of TopBuild in the first quarter valued at $58,000. ETF Managers Group LLC lifted its holdings in TopBuild by 9.8% during the 1st quarter. ETF Managers Group LLC now owns 1,869 shares of the construction company’s stock valued at $121,000 after purchasing an additional 167 shares during the last quarter. Finally, Royal London Asset Management Ltd. acquired a new stake in TopBuild during the 1st quarter valued at $134,000. Hedge funds and other institutional investors own 95.42% of the company’s stock.

Shares of NYSE:BLD traded down $1.73 during mid-day trading on Friday, reaching $79.90. The stock had a trading volume of 229,032 shares, compared to its average volume of 255,685. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 0.56 and a beta of 0.87. The stock has a 50 day moving average of $80.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.20 and a current ratio of 1.56. TopBuild has a twelve month low of $41.27 and a twelve month high of $86.96.

TopBuild (NYSE:BLD) last announced its quarterly earnings results on Tuesday, May 7th. The construction company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.24. The business had revenue of $619.30 million for the quarter, compared to the consensus estimate of $599.06 million. TopBuild had a net margin of 5.83% and a return on equity of 14.81%. TopBuild’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same period last year, the company posted $0.73 EPS. On average, equities research analysts expect that TopBuild will post 5.1 EPS for the current fiscal year.

About TopBuild

TopBuild Corp. engages in the installation, distribution, and sale of insulation and other building products to the United States construction industry. The company operates in two segments, Installation and Distribution. It offers rain gutters, garage doors, fireplaces, fireproofing and firestopping products, shower enclosures, closet shelves, accessories, and other building products; and residential insulation services.

Read More: How does a reverse stock split work?

Receive News & Ratings for TopBuild Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TopBuild and related companies with MarketBeat.com's FREE daily email newsletter.