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Investing.com - DA Davidson raised its price target on TopBuild Corp (NYSE:BLD) to $485.00 from $465.00 on Wednesday, while maintaining a Buy rating on the insulation installer’s stock. The new target represents about 16% upside from TopBuild’s current price of $418.76, though InvestingPro data suggests the stock may be trading above its Fair Value.
The firm’s decision follows TopBuild’s latest financial results, which were in line with expectations, and its full-year organic outlook that was largely affirmed. The company has updated its guidance to account for acquisitions, including SPI. TopBuild reported $5.24 billion in revenue and diluted earnings per share of $19.67 over the last twelve months.
DA Davidson noted that while TopBuild continues to face residential volume pressures, price and cost headwinds remain manageable, particularly due to cost-reduction measures implemented earlier in the year.
The research firm expects TopBuild’s growth in 2026 to be driven primarily by acquisitions, though it anticipates the company will continue to maintain strong profitability on an organic basis.
DA Davidson characterized TopBuild’s execution as "solid" and its valuation as "still undemanding," supporting the decision to maintain a Buy rating while increasing the price target.
In other recent news, TopBuild Corp reported its third-quarter earnings, surpassing analyst expectations. The company achieved an earnings per share (EPS) of $5.36, exceeding the anticipated $5.27. Additionally, TopBuild’s revenues reached $1.39 billion, surpassing forecasts of $1.37 billion. Despite the positive earnings and revenue results, the stock experienced a decline in pre-market trading. This reaction reflects investor concerns about future market conditions and guidance, although specific details on guidance were not provided. Analysts had projected these earnings figures, and TopBuild managed to outperform these estimates. The recent developments highlight the company’s ability to exceed financial expectations amidst challenging market conditions.
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