Installed Building Products, Inc. (IBP) Given Average Recommendation of “Buy” by Analysts
Installed Building Products, Inc. (NYSE:IBP) has received a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $54.50.
A number of equities research analysts have issued reports on IBP shares. Seaport Global Securities boosted their target price on shares of Installed Building Products from $55.00 to $61.00 and gave the company a “buy” rating in a report on Monday, May 8th. Royal Bank of Canada restated a “buy” rating and set a $61.00 price target on shares of Installed Building Products in a research report on Monday, June 19th. Zacks Investment Research lowered shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 11th. 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 target for the company. Finally, BidaskClub upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th.
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In other Installed Building Products news, COO Jay P. Elliott sold 4,765 shares of the company’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $53.00, for a total transaction of $252,545.00. Following the completion of the sale, the chief operating officer now directly owns 62,409 shares in the company, valued at $3,307,677. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Margot Lebenberg Carter sold 2,198 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $52.00, for a total transaction of $114,296.00. Following the sale, the director now owns 8,761 shares of the company’s stock, valued at $455,572. The disclosure for this sale can be found here. Insiders sold 609,463 shares of company stock valued at $31,999,091 over the last quarter. 32.90% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue increased its position in shares of 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. purchased a new position in shares of Installed Building Products during the first quarter valued at approximately $120,000. Highbridge Capital Management LLC purchased a new position in shares of Installed Building Products during the first quarter valued at approximately $224,000. LS Investment Advisors LLC increased its position in shares of Installed Building Products by 508.7% in the first quarter. LS Investment Advisors LLC now owns 4,535 shares of the construction company’s stock valued at $239,000 after buying an additional 3,790 shares during the period. Finally, Budros Ruhlin & Roe Inc. purchased a new position in shares of Installed Building Products during the first quarter valued at approximately $240,000. Institutional investors and hedge funds own 64.52% of the company’s stock.
Shares of Installed Building Products (NYSE:IBP) traded down 1.23% during mid-day trading on Monday, reaching $52.40. The company had a trading volume of 65,745 shares. Installed Building Products has a 12-month low of $30.16 and a 12-month high of $55.45. The firm’s 50 day moving average is $51.04 and its 200-day moving average is $47.50. The stock has a market capitalization of $1.66 billion, a P/E ratio of 42.29 and a beta of 0.82.
Installed Building Products (NYSE:IBP) last issued its earnings results on Friday, May 5th. The construction company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Installed Building Products had a net margin of 4.21% and a return on equity of 26.42%. The business had revenue of $255.70 million for the quarter, compared to analysts’ expectations of $236.19 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. On average, analysts expect that Installed Building Products will post $2.24 earnings per share for the current fiscal year.
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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