Installed Building Products Inc (NYSE:IBP) has earned a consensus rating of “Buy” from the five ratings firms that are covering the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $44.00.
Separately, Zacks Investment Research lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, January 10th.
In other Installed Building Products news, VP Michael Thomas Miller sold 33,000 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $42.00, for a total transaction of $1,386,000.00. Following the transaction, the vice president now owns 20,337 shares of the company’s stock, valued at approximately $854,154. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Jay P. Elliott sold 2,735 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $52.50, for a total transaction of $143,587.50. Following the transaction, the chief operating officer now directly owns 54,336 shares in the company, valued at approximately $2,852,640. The disclosure for this sale can be found here. Insiders sold a total of 295,658 shares of company stock worth $13,427,908 in the last ninety days. 35.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of IBP. State of Alaska Department of Revenue increased its position in Installed Building Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the construction company’s stock worth $116,000 after buying an additional 60 shares during the period. Municipal Employees Retirement System of Michigan increased its position in Installed Building Products by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,680 shares of the construction company’s stock worth $132,000 after buying an additional 60 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in Installed Building Products during the fourth quarter worth approximately $226,000. Shaker Investments LLC OH acquired a new position in Installed Building Products during the third quarter worth approximately $201,000. Finally, Campbell Newman Asset Management Inc. increased its position in Installed Building Products by 13.8% in the first quarter. Campbell Newman Asset Management Inc. now owns 6,075 shares of the construction company’s stock worth $320,000 after buying an additional 735 shares during the period. 69.70% of the stock is currently owned by institutional investors and hedge funds.
Installed Building Products (NYSE:IBP) traded up 1.278% during midday trading on Monday, reaching $53.475. The company’s stock had a trading volume of 85,974 shares. Installed Building Products has a 12 month low of $26.00 and a 12 month high of $53.60. The stock has a 50-day moving average price of $51.14 and a 200 day moving average price of $42.46. The company has a market cap of $1.67 billion, a PE ratio of 43.546 and a beta of 0.78.
Installed Building Products (NYSE:IBP) last released its earnings results on Monday, February 27th. The construction company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. The firm earned $233.98 million during the quarter, compared to analyst estimates of $232.77 million. Installed Building Products had a net margin of 4.47% and a return on equity of 29.06%. The business’s revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the business earned $0.30 EPS. Analysts expect that Installed Building Products will post $2.22 earnings per share for the current fiscal year.
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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