U.S. Markets open in 5 hrs 30 mins
  • S&P Futures

    4,171.00
    +11.00 (+0.26%)
     
  • Dow Futures

    34,200.00
    +82.00 (+0.24%)
     
  • Nasdaq Futures

    13,543.75
    +52.75 (+0.39%)
     
  • Russell 2000 Futures

    2,248.20
    +11.60 (+0.52%)
     
  • Crude Oil

    65.88
    +0.25 (+0.38%)
     
  • Gold

    1,792.50
    +8.20 (+0.46%)
     
  • Silver

    26.85
    +0.33 (+1.26%)
     
  • EUR/USD

    1.2028
    +0.0019 (+0.1564%)
     
  • 10-Yr Bond

    1.5840
    0.0000 (0.00%)
     
  • Vix

    18.30
    -1.18 (-6.06%)
     
  • GBP/USD

    1.3904
    -0.0003 (-0.0250%)
     
  • USD/JPY

    109.3470
    +0.1580 (+0.1447%)
     
  • BTC-USD

    56,809.26
    +1,905.26 (+3.47%)
     
  • CMC Crypto 200

    1,456.32
    +51.01 (+3.63%)
     
  • FTSE 100

    7,060.41
    +21.11 (+0.30%)
     
  • Nikkei 225

    29,331.37
    +518.74 (+1.80%)
     

TopBuild Buys Insulation Peer Ozark Foam; Street Sees 16% Upside

  • Oops!
    Something went wrong.
    Please try again later.
support@smarteranalyst.com (Ben Mahaney)
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

TopBuild Corp. has bought residential and light commercial insulation company, Ozark Foam, for an undisclosed sum. Shares of the insulation and building material products company declined almost 3.5% to close at $190 on March 3.

Ozark Foam mainly installs spray foam insulation and recorded revenues of around $7.7 million in 2020. The financial terms of the deal were not disclosed.

TopBuild (BLD) CEO Robert Buck said, “Ozark Foam is a terrific addition to our TruTeam installation business with a strong customer base and an experienced team of installers.”

Earlier this week, TopBuild inked a deal to snap up American Building Systems Group, a residential insulation and distribution business. The transaction is likely to close in the second quarter of this year and generate an additional $144 million of annual revenue. (See TopBuild stock analysis on TipRanks)

On Feb. 24, Truist Financial analyst Keith Hughes increased the stock’s price target to $232 (22.1% upside potential) from $184 and maintained a Buy rating. The analyst believes “TopBuild is primed for strong results in 2021 as homebuilder orders mount and strong pricing in reaction to input increases are in place.”

The rest of the Street is cautiously optimistic about the stock with a Moderate Buy consensus rating. That’s based on 5 Buys, 1 Hold and 1 Sell. The average analyst price target of $220.43 implies 16% upside potential to current levels. Shares have jumped about 63% over the past year.

Related News:
Merck Inks Deal To Buy Pandion Therapeutics For $1.85B; Shares Skyrocket
Redfin To Buy RentPath For $608M; Shares Jump 12%
Autodesk To Snap Up Innovyze For $1B; Street Sees 14% Upside

More recent articles from Smarter Analyst: