J Michael Nixon Sells 300 Shares of Installed Building Products, Inc. (IBP) Stock
Installed Building Products, Inc. (NYSE:IBP) Director J Michael Nixon sold 300 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $60.00, for a total value of $18,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Installed Building Products, Inc. (NYSE IBP) traded down 1.57% during mid-day trading on Friday, reaching $56.45. The company had a trading volume of 169,179 shares. Installed Building Products, Inc. has a 52 week low of $30.17 and a 52 week high of $60.00. The stock has a 50 day moving average of $54.14 and a 200-day moving average of $50.51. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 43.36 and a beta of 0.81.
Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Friday, August 4th. The construction company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.38 by $0.21. Installed Building Products had a return on equity of 25.27% and a net margin of 4.11%. The firm had revenue of $282.20 million during the quarter, compared to analysts’ expectations of $274.63 million. During the same quarter last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was up 33.2% on a year-over-year basis. On average, analysts expect that Installed Building Products, Inc. will post $2.24 earnings per share for the current fiscal year.
Several analysts recently issued reports on IBP shares. Royal Bank Of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Installed Building Products in a research note on Wednesday, June 7th. Seaport Global Securities lifted their target price on Installed Building Products from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Monday, May 8th. Zacks Investment Research downgraded Installed Building Products from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 10th. BidaskClub raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, 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 target price on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $59.25.
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Installed Building Products by 167,701.5% in the first quarter. BlackRock Inc. now owns 2,745,232 shares of the construction company’s stock valued at $144,812,000 after buying an additional 2,743,596 shares in the last quarter. Stifel Financial Corp acquired a new position in shares of Installed Building Products during the second quarter valued at $9,434,000. Teachers Advisors LLC raised its position in shares of Installed Building Products by 481.2% in the first quarter. Teachers Advisors LLC now owns 213,255 shares of the construction company’s stock valued at $11,249,000 after buying an additional 176,562 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Installed Building Products during the second quarter valued at $6,228,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Installed Building Products by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 789,371 shares of the construction company’s stock valued at $41,639,000 after buying an additional 79,567 shares during the last quarter. 63.56% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Installed Building Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.