Installed Building Products Inc. (IBP) Stock Rating Upgraded by Zacks Investment Research
Installed Building Products Inc. (NYSE:IBP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “
Separately, Deutsche Bank AG increased their price target on Installed Building Products from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $34.25.
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Shares of Installed Building Products (NYSE:IBP) traded up 1.99% on Wednesday, hitting $35.90. The company had a trading volume of 138,940 shares. Installed Building Products has a 52 week low of $17.60 and a 52 week high of $38.97. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 32.64 and a beta of 0.53. The stock’s 50-day moving average is $35.04 and its 200 day moving average is $32.90.
Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Friday, August 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. Installed Building Products had a net margin of 4.45% and a return on equity of 29.31%. The business earned $211.90 million during the quarter, compared to analysts’ expectations of $212.87 million. During the same quarter last year, the business posted $0.23 earnings per share. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. Equities analysts expect that Installed Building Products will post $1.43 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC purchased a new position in shares of Installed Building Products during the second quarter valued at about $118,000. Creative Planning boosted its position in shares of Installed Building Products by 2,432.6% in the second quarter. Creative Planning now owns 4,432 shares of the company’s stock valued at $161,000 after buying an additional 4,257 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Installed Building Products by 102.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,398 shares of the company’s stock valued at $196,000 after buying an additional 2,726 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Installed Building Products during the second quarter valued at about $216,000. Finally, Trexquant Investment LP purchased a new position in shares of Installed Building Products during the second quarter valued at about $225,000. Hedge funds and other institutional investors own 62.11% of the company’s stock.
Installed Building Products Company Profile
Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. The Company’s national platform consists of over 100 locations accessing customers in approximately 50 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 provide cross-selling opportunities to supplement the insulation installation business.
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