Installed Building Products, Inc. (IBP) Receives Average Rating of “Buy” from Brokerages
Shares of Installed Building Products, Inc. (NYSE:IBP) have been assigned an average rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $67.60.
Several analysts recently issued reports on IBP shares. BidaskClub raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research cut shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 10th. Deutsche Bank AG upped their price objective on shares of Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, August 21st. Credit Suisse Group started coverage on shares of Installed Building Products in a research note on Thursday, June 22nd. They set an “outperform” rating and a $61.00 price objective for the company. Finally, Royal Bank Of Canada upped their price objective on shares of Installed Building Products from $61.00 to $69.00 and gave the company an “outperform” rating in a research note on Monday, August 7th.
In other Installed Building Products news, Director J Michael Nixon sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Thomas Miller sold 7,430 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $60.00, for a total transaction of $445,800.00. Following the completion of the transaction, the chief financial officer now owns 32,086 shares in the company, valued at $1,925,160. The disclosure for this sale can be found here. Insiders sold a total of 168,546 shares of company stock worth $10,371,796 over the last quarter. 32.90% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its holdings in Installed Building Products by 11.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock valued at $100,000 after purchasing an additional 198 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Installed Building Products in the 1st quarter valued at about $120,000. Pinebridge Investments L.P. boosted its holdings in Installed Building Products by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock valued at $140,000 after purchasing an additional 34 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Installed Building Products by 12.8% in the 2nd quarter. D.A. Davidson & CO. now owns 3,209 shares of the construction company’s stock valued at $169,000 after purchasing an additional 364 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Installed Building Products by 79.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,965 shares of the construction company’s stock valued at $209,000 after purchasing an additional 1,755 shares during the last quarter. Institutional investors own 65.60% of the company’s stock.
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Shares of Installed Building Products (IBP) traded down 0.08% on Wednesday, hitting $65.45. 70,121 shares of the company were exchanged. The firm’s 50-day moving average is $61.39 and its 200-day moving average is $54.84. Installed Building Products has a 52-week low of $30.75 and a 52-week high of $67.15. The stock has a market capitalization of $2.07 billion, a PE ratio of 50.27 and a beta of 0.83.
Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Friday, August 4th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.21. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. The company had revenue of $282.20 million during the quarter, compared to analysts’ expectations of $274.63 million. During the same quarter in the prior year, the company earned $0.34 EPS. Installed Building Products’s revenue was up 33.2% compared to the same quarter last year. Equities research analysts predict that Installed Building Products will post $2.24 earnings per share for the current year.
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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