Installed Building Products, Inc. (NYSE:IBP) had its target price hoisted by Royal Bank Of Canada from $61.00 to $69.00 in a research report issued on Monday. The brokerage presently has an “outperform” rating on the construction company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 17.55% from the company’s current price.

Several other research firms also recently weighed in on IBP. Seaport Global Securities increased their price target on Installed Building Products from $55.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, May 8th. BidaskClub upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Credit Suisse Group started coverage on Installed Building Products in a research note on Thursday, June 22nd. They set an “outperform” rating and a $61.00 price target for the company. Finally, Zacks Investment Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Installed Building Products presently has an average rating of “Buy” and an average target price of $54.40.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.21. The company had revenue of $282.20 million during the quarter, compared to the consensus estimate of $274.63 million. Installed Building Products had a return on equity of 26.45% and a net margin of 4.11%. The firm’s quarterly revenue was up 33.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 EPS.

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In other Installed Building Products news, Director Margot Lebenberg Carter sold 2,198 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $52.00, for a total value of $114,296.00. Following the completion of the transaction, the director now owns 8,761 shares in the company, valued at approximately $455,572. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey W. Edwards sold 600,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $52.50, for a total value of $31,500,000.00. Following the completion of the transaction, the chief executive officer now owns 504,800 shares of the company’s stock, valued at approximately $26,502,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 604,698 shares of company stock valued at $31,746,546. 32.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System increased its position in shares of Installed Building Products by 13.5% in the fourth quarter. New York State Teachers Retirement System now owns 12,593 shares of the construction company’s stock valued at $520,000 after buying an additional 1,500 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Installed Building Products by 11.4% in the third quarter. BlackRock Fund Advisors now owns 1,740,344 shares of the construction company’s stock valued at $62,426,000 after buying an additional 178,415 shares in the last quarter. Emerald Advisers Inc. PA increased its position in shares of Installed Building Products by 92.8% in the fourth quarter. Emerald Advisers Inc. PA now owns 556,423 shares of the construction company’s stock valued at $13,816,000 after buying an additional 267,853 shares in the last quarter. Fisher Asset Management increased its position in shares of Installed Building Products by 9.5% in the fourth quarter. Fisher Asset Management now owns 122,517 shares of the construction company’s stock valued at $3,042,000 after buying an additional 10,601 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management bought a new position in shares of Installed Building Products during the third quarter valued at approximately $16,719,000. Institutional investors and hedge funds own 63.68% of the company’s stock.

About Installed Building Products

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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