Installed Building Products, Inc. (NYSE:IBP) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday.
A number of other research analysts have also commented on IBP. Royal Bank Of Canada upped their price objective on shares of Installed Building Products from $61.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, August 7th. Zacks Investment Research lowered shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Thursday. Seaport Global Securities upped their price objective on shares of Installed Building Products from $55.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 8th. Finally, Credit Suisse Group assumed coverage on shares of Installed Building Products in a research report on Thursday, June 22nd. They set an “outperform” rating and a $61.00 price objective for the company. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Installed Building Products presently has an average rating of “Buy” and a consensus target price of $54.40.
Installed Building Products (NYSE IBP) opened at 57.80 on Friday. Installed Building Products has a 1-year low of $30.17 and a 1-year high of $60.00. The company’s 50-day moving average price is $53.54 and its 200 day moving average price is $50.03. The firm has a market capitalization of $1.83 billion, a PE ratio of 44.39 and a beta of 0.81.
Installed Building Products (NYSE:IBP) last released its earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.21. The firm had revenue of $282.20 million during the quarter, compared to analyst estimates of $274.63 million. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. The business’s revenue was up 33.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. On average, equities analysts anticipate that Installed Building Products will post $2.24 EPS for the current year.
In other news, Director Margot Lebenberg Carter sold 1,717 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $59.50, for a total transaction of $102,161.50. Following the completion of the transaction, the director now owns 4,654 shares of the company’s stock, valued at $276,913. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey W. Edwards sold 600,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $52.50, for a total transaction of $31,500,000.00. Following the transaction, the chief executive officer now directly owns 504,800 shares of the company’s stock, valued at approximately $26,502,000. The disclosure for this sale can be found here. Insiders have sold 606,502 shares of company stock valued at $31,853,928 in the last ninety days. 32.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of IBP. State of Alaska Department of Revenue raised its position in Installed Building Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the construction company’s stock valued at $116,000 after buying an additional 60 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in Installed Building Products during the first quarter valued at about $120,000. Pinebridge Investments L.P. raised its position in Installed Building Products by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock valued at $140,000 after buying an additional 34 shares during the period. D.A. Davidson & CO. raised its position in Installed Building Products by 12.8% in the second quarter. D.A. Davidson & CO. now owns 3,209 shares of the construction company’s stock valued at $169,000 after buying an additional 364 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in Installed Building Products during the first quarter valued at about $224,000. 63.68% of the stock is owned by hedge funds and other institutional investors.
Installed Building Products Company Profile
Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 continental states and the District of Columbia. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, which provides cross-selling opportunities to supplement the insulation installation business.
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