Shares of Installed Building Products, Inc. (NYSE:IBP) have been given an average rating of “Buy” by the eight brokerages that are currently covering the firm, Marketbeat reports. Three equities research 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 analysts that have updated their coverage on the stock in the last year is $66.00.

A number of brokerages have weighed in on IBP. SunTrust Banks reiterated a “buy” rating and issued a $65.00 price target on shares of Installed Building Products in a report on Friday, November 3rd. KeyCorp reiterated a “hold” rating on shares of Installed Building Products in a report on Wednesday, November 1st. Zacks Investment Research lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Credit Suisse Group set a $73.00 target price on shares of Installed Building Products and gave the company an “outperform” rating in a research note on Tuesday, October 17th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $69.00 target price on shares of Installed Building Products in a research note on Monday, October 16th.

In related news, CEO Jeffrey W. Edwards sold 200,000 shares of Installed Building Products stock in a transaction on Monday, December 4th. The shares were sold at an average price of $74.25, for a total transaction of $14,850,000.00. Following the sale, the chief executive officer now owns 504,800 shares of the company’s stock, valued at approximately $37,481,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vikas Verma purchased 3,318 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were purchased at an average cost of $59.98 per share, for a total transaction of $199,013.64. Following the purchase, the director now directly owns 230,251 shares in the company, valued at $13,810,454.98. The disclosure for this purchase can be found here. In the last three months, insiders sold 363,781 shares of company stock worth $24,938,754. Insiders own 32.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors increased its stake in Installed Building Products by 4.4% during the 2nd quarter. Nationwide Fund Advisors now owns 12,210 shares of the construction company’s stock worth $647,000 after buying an additional 509 shares during the period. Scout Investments Inc. increased its stake in Installed Building Products by 27.0% during the 2nd quarter. Scout Investments Inc. now owns 68,600 shares of the construction company’s stock worth $3,632,000 after buying an additional 14,600 shares during the period. Great West Life Assurance Co. Can increased its stake in Installed Building Products by 7.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 28,870 shares of the construction company’s stock worth $1,527,000 after buying an additional 1,905 shares during the period. NorthCoast Asset Management LLC increased its stake in Installed Building Products by 83.5% during the 2nd quarter. NorthCoast Asset Management LLC now owns 52,407 shares of the construction company’s stock worth $2,775,000 after buying an additional 23,845 shares during the period. Finally, BlackRock Inc. increased its stake in Installed Building Products by 3.1% during the 2nd quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock worth $149,836,000 after buying an additional 84,555 shares during the period. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Installed Building Products (NYSE:IBP) traded down $1.60 on Thursday, hitting $72.65. 319,623 shares of the company’s stock were exchanged, compared to its average volume of 152,640. The firm has a market cap of $2,368.98, a price-to-earnings ratio of 56.76 and a beta of 0.87. Installed Building Products has a 52 week low of $39.95 and a 52 week high of $79.40. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.93 and a current ratio of 2.22.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Friday, November 3rd. The construction company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.07). The company had revenue of $295.20 million during the quarter, compared to analyst estimates of $292.51 million. Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. equities research analysts anticipate that Installed Building Products will post 1.46 EPS for the current year.

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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.

Analyst Recommendations for Installed Building Products (NYSE:IBP)

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