BTIG Downgrades TopBuild Citing Valuation

BTIG Downgrades TopBuild Citing Valuation
  • BTIG analyst Ryan Gilbert downgraded TopBuild Corp BLD to Neutral from Buy as part of a broader research note on Building Products.
  • Gilbert states that while 2021 was strong for the group as companies capitalized on a favorable supply/demand dynamic to drive outsized revenue and EBITDA growth, 2022 growth will slow in the single-family new construction.
  • The analyst adds that his rating change on TopBuild is a "valuation-driven call," saying the stock has little room for either multiple expansion or upward revision.
  • Price Action: BLD shares are trading lower by 1.13% at $273.35 on the last check Friday.
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