Shares of Installed Building Products Inc (NYSE:IBP) have earned an average rating of “Buy” from the fourteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $70.33.
A number of equities research analysts have recently commented on IBP shares. ValuEngine downgraded Installed Building Products from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Installed Building Products in a research report on Friday, August 3rd. Zacks Investment Research upgraded Installed Building Products from a “sell” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, May 8th. Stephens reiterated a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a report on Wednesday, August 8th. Finally, Royal Bank of Canada set a $66.00 target price on Installed Building Products and gave the company a “buy” rating in a report on Friday, August 3rd.
Shares of NYSE:IBP traded up $2.85 during midday trading on Tuesday, reaching $48.05. The company’s stock had a trading volume of 363,500 shares, compared to its average volume of 232,802. The company has a market cap of $1.56 billion, a P/E ratio of 38.57, a P/E/G ratio of 0.74 and a beta of 0.86. The company has a quick ratio of 2.50, a current ratio of 2.80 and a debt-to-equity ratio of 2.04. Installed Building Products has a 1 year low of $45.04 and a 1 year high of $79.40.
Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). The business had revenue of $332.60 million during the quarter, compared to analysts’ expectations of $334.24 million. Installed Building Products had a net margin of 3.70% and a return on equity of 24.57%. Installed Building Products’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. sell-side analysts expect that Installed Building Products will post 2.66 earnings per share for the current fiscal year.
In related news, CEO Jeffrey W. Edwards sold 92,649 shares of Installed Building Products stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $48.46, for a total value of $4,489,770.54. Following the transaction, the chief executive officer now owns 300,159 shares in the company, valued at $14,545,705.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Michael Nixon sold 35,000 shares of Installed Building Products stock in a transaction on Friday, May 25th. The shares were sold at an average price of $62.02, for a total value of $2,170,700.00. The disclosure for this sale can be found here. Insiders sold 369,688 shares of company stock worth $20,654,503 in the last quarter. 31.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. NumerixS Investment Technologies Inc acquired a new position in shares of Installed Building Products during the second quarter worth about $146,000. LPL Financial LLC acquired a new position in shares of Installed Building Products during the fourth quarter worth about $219,000. Quantbot Technologies LP acquired a new position in shares of Installed Building Products during the first quarter worth about $189,000. Millennium Management LLC acquired a new position in shares of Installed Building Products during the fourth quarter worth about $247,000. Finally, Point72 Asia Hong Kong Ltd acquired a new position in shares of Installed Building Products during the first quarter worth about $196,000. Institutional investors own 67.35% of the company’s stock.
About Installed Building Products
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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