TopBuild price target lowered to $450 from $460 at DA Davidson

DA Davidson lowered the firm’s price target on TopBuild (BLD) to $450 from $460 and keeps a Buy rating on the shares. The firm notes that post-earnings weakness has shares of TopBuild giving back most of yesterday’s gains as it reported in-line Q3 results and trimmed the midpoint of the full-year sales/EBITDA outlook for a second straight quarter, the analyst tells investors in a research note. There was plenty to like with results however, including a bounce-back to positive same-branch sales growth, another quarter of elevated share repurchase activity, and healthy margins, the firm added.