Installed Building Products Inc. (IBP) Upgraded to “Hold” at 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 report released 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 lifted their target price on shares of Installed Building Products from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, August 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Installed Building Products currently has an average rating of “Buy” and a consensus price target of $34.25.
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Installed Building Products (NYSE:IBP) traded up 1.99% during trading on Wednesday, hitting $35.90. The company had a trading volume of 138,940 shares. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 32.64 and a beta of 0.53. Installed Building Products has a 52-week low of $17.60 and a 52-week high of $38.97. The firm’s 50 day moving average is $35.04 and its 200-day moving average is $32.90.
Installed Building Products (NYSE:IBP) last posted its earnings results on Friday, August 5th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 company earned $211.90 million during the quarter, compared to analyst estimates of $212.87 million. During the same quarter last year, the business posted $0.23 EPS. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, equities analysts forecast that Installed Building Products will post $1.43 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors boosted its position in shares of Installed Building Products by 36.7% in the second quarter. BlackRock Fund Advisors now owns 1,561,929 shares of the company’s stock valued at $56,682,000 after buying an additional 419,681 shares in the last quarter. Waddell & Reed Financial Inc. boosted its stake in Installed Building Products by 386.0% in the second quarter. Waddell & Reed Financial Inc. now owns 291,500 shares of the company’s stock valued at $10,578,000 after buying an additional 231,523 shares during the period. Dimensional Fund Advisors LP boosted its stake in Installed Building Products by 43.0% in the second quarter. Dimensional Fund Advisors LP now owns 580,137 shares of the company’s stock valued at $21,052,000 after buying an additional 174,495 shares during the period. UBS Group AG boosted its stake in Installed Building Products by 17.8% in the first quarter. UBS Group AG now owns 690,695 shares of the company’s stock valued at $18,380,000 after buying an additional 104,493 shares during the period. Finally, Cortina Asset Management LLC purchased a new stake in Installed Building Products during the second quarter valued at about $3,623,000. 62.11% of the stock is owned by institutional investors.
About Installed Building Products
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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