RBC Capital Initiates Coverage on Installed Building Products (IBP)
Equities researchers at RBC Capital assumed coverage on shares of Installed Building Products (NYSE:IBP) in a research report issued on Friday, TheFlyOnTheWall.com reports. The firm set a “sector perform” rating and a $14.00 price target on the stock. RBC Capital’s price objective would suggest a potential upside of 10.67% from the stock’s previous close.
In other Installed Building Products news, Insider Cetus Capital Ii, Llc unloaded 3,300,000 shares of Installed Building Products stock on the open market in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $11.88, for a total transaction of $39,204,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Installed Building Products (NYSE:IBP) traded down 0.63% on Friday, hitting $12.57. 34,744 shares of the company’s stock traded hands. Installed Building Products has a 52-week low of $12.03 and a 52-week high of $15.47. The stock has a 50-day moving average of $13.33 and a 200-day moving average of $13.59. The company’s market cap is $384.7 million.
Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.03. The company had revenue of $105.90 million for the quarter, compared to the consensus estimate of $100.04 million. Analysts expect that Installed Building Products will post $0.58 EPS for the current fiscal year.
Installed Building Products, Inc is a residential insulation installer in the United States based on the Company’s internal estimates, with a national platform consisting of over 100 locations serving customers in 44 states.
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