Credit Suisse Group set a $38.00 price objective on Installed Building Products (NYSE:IBP) in a research note issued to investors on Friday. The brokerage currently has a hold rating on the construction company’s stock.
Several other research firms also recently weighed in on IBP. Zacks Investment Research downgraded shares of Installed Building Products from a buy rating to a hold rating in a research report on Tuesday, July 10th. ValuEngine upgraded shares of Installed Building Products from a sell rating to a hold rating in a report on Wednesday, July 18th. Stephens restated a buy rating and set a $65.00 price target on shares of Installed Building Products in a report on Wednesday, August 8th. Royal Bank of Canada set a $66.00 price target on shares of Installed Building Products and gave the stock a buy rating in a report on Friday, August 3rd. Finally, Jefferies Financial Group restated a buy rating and set a $71.00 price target on shares of Installed Building Products in a report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Installed Building Products currently has an average rating of Hold and a consensus price target of $53.82.
Shares of Installed Building Products stock traded down $0.12 during trading on Friday, hitting $35.16. The stock had a trading volume of 650,962 shares, compared to its average volume of 421,261. The company has a market cap of $1.11 billion, a P/E ratio of 18.22, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.59 and a quick ratio of 2.50. Installed Building Products has a 1 year low of $29.24 and a 1 year high of $79.40.
Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, November 1st. The construction company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.07). The firm had revenue of $349.00 million during the quarter, compared to analysts’ expectations of $346.39 million. Installed Building Products had a return on equity of 29.03% and a net margin of 3.82%. The business’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. On average, analysts expect that Installed Building Products will post 2.63 EPS for the current fiscal year.
In related news, CEO Jeffrey W. Edwards sold 92,649 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $48.46, for a total transaction of $4,489,770.54. Following the completion of the sale, the chief executive officer now directly owns 300,159 shares in the company, valued at $14,545,705.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey W. Edwards sold 107,039 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $52.30, for a total transaction of $5,598,139.70. Following the sale, the chief executive officer now owns 351,071 shares of the company’s stock, valued at $18,361,013.30. The disclosure for this sale can be found here. Company insiders own 31.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. acquired a new stake in Installed Building Products in the second quarter valued at approximately $614,000. NumerixS Investment Technologies Inc acquired a new stake in Installed Building Products in the second quarter valued at approximately $146,000. FMR LLC lifted its stake in Installed Building Products by 150.4% in the second quarter. FMR LLC now owns 426,005 shares of the construction company’s stock valued at $24,090,000 after acquiring an additional 255,900 shares during the last quarter. Amalgamated Bank acquired a new stake in Installed Building Products in the second quarter valued at approximately $202,000. Finally, BlackRock Inc. lifted its stake in Installed Building Products by 4.1% in the second quarter. BlackRock Inc. now owns 3,170,901 shares of the construction company’s stock valued at $179,315,000 after acquiring an additional 123,489 shares during the last quarter. Hedge funds and other institutional investors own 69.99% of the company’s stock.
Installed Building Products 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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