TopBuild price target lowered to $445 from $465 at Loop Capital

Loop Capital lowered the firm’s price target on TopBuild to $445 from $465 but keeps a Buy rating on the shares. The company reported a modest Q2 earnings miss due to lighter-than-anticipated installation revenues from a combination of commercial/industrial project delays and insulation supply headwinds but maintained its mid-single-digit residential sales expectations due to improving single-family demand and continued multi-family backlogs which are expected to last through the second half of the year, the analyst tells investors in a research note.