Installed Building Products Inc (NYSE:IBP) has been given an average recommendation of “Buy” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $70.57.
A number of analysts have issued reports on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $85.00 price target (up from $73.00) on shares of Installed Building Products in a report on Monday, January 22nd. They noted that the move was a valuation call. Zelman & Associates upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. SunTrust Banks restated a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a report on Friday, November 3rd. Finally, KeyCorp restated a “hold” rating on shares of Installed Building Products in a report on Wednesday, November 1st.
Shares of Installed Building Products (IBP) traded down $5.15 during midday trading on Tuesday, reaching $64.70. 253,440 shares of the company’s stock were exchanged, compared to its average volume of 205,547. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.93 and a current ratio of 2.22. The company has a market cap of $2,230.00, a P/E ratio of 49.39 and a beta of 0.69. Installed Building Products has a one year low of $40.10 and a one year high of $79.40.
In related news, COO Jay P. Elliott sold 3,000 shares of Installed Building Products stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $73.50, for a total transaction of $220,500.00. Following the completion of the transaction, the chief operating officer now directly owns 48,312 shares of the company’s stock, valued at approximately $3,550,932. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey W. Edwards sold 200,000 shares of Installed Building Products stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $74.25, for a total transaction of $14,850,000.00. Following the transaction, the chief executive officer now directly owns 504,800 shares of the company’s stock, valued at $37,481,400. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,000 shares of company stock worth $20,239,000. Insiders own 32.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. boosted its stake in shares of 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 purchasing an additional 198 shares during the period. Crow Point Partners LLC purchased a new stake in Installed Building Products in the 4th quarter valued at about $128,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Installed Building Products by 32.9% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock valued at $207,000 after buying an additional 793 shares during the period. LPL Financial LLC purchased a new stake in Installed Building Products in the 4th quarter valued at about $219,000. Finally, Morse Asset Management Inc purchased a new stake in Installed Building Products in the 4th quarter valued at about $228,000. 65.23% of the stock is owned by hedge funds and other institutional investors.
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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.
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