Shares of Installed Building Products, Inc. (NYSE:IBP) have received an average rating of “Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $63.25.

Several research analysts recently commented on the company. Zacks Investment Research lowered Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 11th. BidaskClub upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Royal Bank Of Canada boosted their target price on Installed Building Products from $53.00 to $61.00 and gave the company an “outperform” rating in a research report on Monday, May 8th. Finally, Credit Suisse Group began coverage on Installed Building Products in a research report on Thursday, June 22nd. They set an “outperform” rating and a $61.00 target price for the company.

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Installed Building Products (NYSE:IBP) traded down 0.28% during trading on Tuesday, reaching $54.15. The company’s stock had a trading volume of 122,718 shares. The company has a market cap of $1.71 billion, a PE ratio of 41.59 and a beta of 0.81. The stock has a 50-day moving average price of $54.67 and a 200 day moving average price of $51.15. Installed Building Products has a 52-week low of $30.75 and a 52-week high of $60.00.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Friday, August 4th. The construction company reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.21. The company had revenue of $282.20 million during the quarter, compared to analyst estimates of $274.63 million. Installed Building Products had a return on equity of 25.27% and a net margin of 4.11%. The firm’s revenue was up 33.2% on a year-over-year basis. During the same quarter last year, the business posted $0.34 earnings per share. On average, analysts expect that Installed Building Products will post $2.24 EPS for the current year.

In other news, Director Margot Lebenberg Carter sold 2,198 shares of Installed Building Products stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $52.00, for a total transaction of $114,296.00. Following the completion of the sale, the director now owns 8,761 shares of the company’s stock, valued at $455,572. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jay P. Elliott sold 2,500 shares of Installed Building Products stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $52.90, for a total transaction of $132,250.00. Following the sale, the chief operating officer now directly owns 53,812 shares of the company’s stock, valued at approximately $2,846,654.80. The disclosure for this sale can be found here. Insiders have sold 609,463 shares of company stock valued at $32,029,588 in the last 90 days. Company insiders own 32.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its stake in Installed Building Products by 11.7% in the second quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock valued at $100,000 after buying an additional 198 shares in the last quarter. 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 worth $116,000 after buying an additional 60 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Installed Building Products during the first quarter worth approximately $120,000. Pinebridge Investments L.P. increased its position in shares of Installed Building Products by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock worth $140,000 after buying an additional 34 shares during the period. Finally, D.A. Davidson & CO. increased its position in shares of Installed Building Products by 12.8% in the second quarter. D.A. Davidson & CO. now owns 3,209 shares of the construction company’s stock worth $169,000 after buying an additional 364 shares during the period. 65.60% of the stock is owned by hedge funds and other 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. 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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