Credit Suisse Group set a $73.00 target price on Installed Building Products, Inc. (NYSE:IBP) in a research note published on Tuesday, October 17th. The brokerage currently has an outperform rating on the construction company’s stock.
Several other research firms have also commented on IBP. Zacks Investment Research raised shares of Installed Building Products from a hold rating to a buy rating and set a $73.00 price target for the company in a report on Friday, October 6th. Royal Bank Of Canada reissued a buy rating and set a $69.00 target price on shares of Installed Building Products in a research note on Monday, October 16th. KeyCorp reissued a hold rating on shares of Installed Building Products in a research note on Tuesday, September 26th. BidaskClub raised shares of Installed Building Products from a hold rating to a buy rating in a research note on Saturday, August 12th. Finally, Deutsche Bank AG boosted their target price 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $67.60.
Installed Building Products (IBP) traded up 0.98% during trading on Tuesday, hitting $66.75. The stock had a trading volume of 40,900 shares. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 51.27 and a beta of 0.83. Installed Building Products has a 52-week low of $30.75 and a 52-week high of $67.15. The firm’s 50-day moving average price is $62.51 and its 200-day moving average price is $55.33.
Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $282.20 million for the quarter, compared to the consensus estimate of $274.63 million. During the same quarter in the previous year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 33.2% on a year-over-year basis. Analysts predict that Installed Building Products will post $2.24 EPS for the current fiscal year.
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In other news, insider Todd R. Fry sold 1,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $58.00, for a total value of $58,000.00. Following the completion of the sale, the insider now directly owns 4,091 shares in the company, valued at $237,278. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J Michael Nixon sold 50,000 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. The disclosure for this sale can be found here. Insiders sold 168,546 shares of company stock valued at $10,371,796 over the last 90 days. 32.90% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of IBP. Ameritas Investment Partners Inc. grew its holdings in Installed Building Products by 11.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock worth $100,000 after acquiring an additional 198 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Installed Building Products in the 1st quarter valued at about $120,000. Pinebridge Investments L.P. boosted its stake in shares of 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 stake in shares of 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 stake in shares of 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. 65.53% of the stock is currently 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.
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