Installed Building Products (IBP) Given Neutral Rating at Credit Suisse Group

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Credit Suisse Group restated their neutral rating on shares of Installed Building Products (NYSE:IBP) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. Credit Suisse Group currently has a $40.00 price objective on the construction company’s stock.

Other equities research analysts have also recently issued reports about the stock. Macquarie began coverage on shares of Installed Building Products in a report on Wednesday, September 26th. They issued a hold rating and a $50.00 price target for the company. ValuEngine cut shares of Installed Building Products from a hold rating to a sell rating in a report on Wednesday, July 25th. Royal Bank of Canada raised their price target on shares of Installed Building Products to $71.00 and gave the stock an outperform rating in a report on Wednesday, June 27th. They noted that the move was a valuation call. Zelman & Associates cut shares of Installed Building Products from a buy rating to a hold rating in a report on Tuesday, August 21st. Finally, Stephens restated a buy rating and issued a $65.00 price target on shares of Installed Building Products in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $61.30.

Shares of NYSE IBP opened at $30.72 on Wednesday. The company has a quick ratio of 2.50, a current ratio of 2.80 and a debt-to-equity ratio of 2.04. The firm has a market cap of $970.94 million, a P/E ratio of 19.32, a PEG ratio of 0.46 and a beta of 0.78. Installed Building Products has a twelve month low of $30.64 and a twelve month high of $79.40.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 2nd. The construction company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). The company had revenue of $332.60 million during the quarter, compared to analyst estimates of $334.24 million. Installed Building Products had a return on equity of 24.57% and a net margin of 3.70%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 earnings per share. On average, research analysts predict that Installed Building Products will post 2.65 EPS for the current fiscal year.

In other news, CEO Jeffrey W. Edwards sold 107,039 shares of Installed Building Products stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $52.30, for a total transaction of $5,598,139.70. Following the completion of the transaction, the chief executive officer now directly owns 351,071 shares in the company, valued at $18,361,013.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey W. Edwards sold 92,649 shares of Installed Building Products stock in a transaction dated 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 transaction, the chief executive officer now owns 300,159 shares of the company’s stock, valued at $14,545,705.14. The disclosure for this sale can be found here. Company insiders own 31.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of IBP. FMR LLC grew its holdings in shares of Installed Building Products by 150.4% during the second quarter. FMR LLC now owns 426,005 shares of the construction company’s stock valued at $24,090,000 after buying an additional 255,900 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Installed Building Products by 4.1% during the second quarter. BlackRock Inc. now owns 3,170,901 shares of the construction company’s stock valued at $179,315,000 after buying an additional 123,489 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Installed Building Products during the second quarter valued at about $2,922,000. Cortina Asset Management LLC grew its holdings in shares of Installed Building Products by 100.4% during the second quarter. Cortina Asset Management LLC now owns 96,010 shares of the construction company’s stock valued at $5,429,000 after buying an additional 48,099 shares during the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in shares of Installed Building Products during the first quarter valued at about $1,398,000. Hedge funds and other institutional investors own 70.01% 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.

Further Reading: Book Value Per Share – BVPS

Analyst Recommendations for Installed Building Products (NYSE:IBP)

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