Guggenheim Capital LLC lowered its stake in Installed Building Prods (NYSE:IBP) by 42.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,464 shares of the construction company’s stock after selling 32,505 shares during the period. Guggenheim Capital LLC owned 0.14% of Installed Building Prods worth $3,302,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Crow Point Partners LLC purchased a new stake in shares of Installed Building Prods in the 4th quarter worth approximately $128,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in Installed Building Prods by 32.9% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock valued at $207,000 after purchasing an additional 793 shares during the last quarter. Morse Asset Management Inc purchased a new stake in Installed Building Prods during the 4th quarter valued at $228,000. Amalgamated Bank purchased a new stake in Installed Building Prods during the 4th quarter valued at $239,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Installed Building Prods during the 3rd quarter valued at $311,000. Institutional investors own 68.26% of the company’s stock.
Several brokerages have commented on IBP. Zacks Investment Research upgraded Installed Building Prods from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Wednesday, March 14th. Credit Suisse Group reiterated an “outperform” rating and set a $85.00 target price (up from $73.00) on shares of Installed Building Prods in a research note on Monday, January 22nd. They noted that the move was a valuation call. ValuEngine downgraded Installed Building Prods from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Royal Bank of Canada set a $71.00 target price on Installed Building Prods and gave the company a “buy” rating in a research note on Thursday, March 1st. Finally, Instinet began coverage on Installed Building Prods in a research note on Tuesday, March 13th. They set a “buy” rating and a $77.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $70.70.
NYSE IBP opened at $59.15 on Friday. The firm has a market cap of $1,954.74, a PE ratio of 49.71, a PEG ratio of 0.94 and a beta of 0.91. The company has a current ratio of 2.22, a quick ratio of 1.92 and a debt-to-equity ratio of 1.60. Installed Building Prods has a 1-year low of $46.65 and a 1-year high of $79.40.
Installed Building Prods (NYSE:IBP) last released its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.20). The firm had revenue of $299.87 million for the quarter, compared to the consensus estimate of $302.02 million. Installed Building Prods had a net margin of 3.63% and a return on equity of 19.75%. Installed Building Prods’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. analysts forecast that Installed Building Prods will post 2.16 EPS for the current fiscal year.
Installed Building Prods declared that its board has authorized a stock repurchase plan on Wednesday, February 28th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director J Michael Nixon sold 20,000 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $74.50, for a total transaction of $1,490,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Jay P. Elliott sold 3,000 shares of the stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $73.50, for a total value of $220,500.00. Following the transaction, the chief operating officer now directly owns 48,312 shares in the company, valued at $3,550,932. The disclosure for this sale can be found here. 32.90% of the stock is owned by corporate insiders.
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Installed Building Prods Company Profile
Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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