Analysts Set Installed Building Products, Inc. (IBP) PT at $66.00

Shares of Installed Building Products, Inc. (NYSE:IBP) have earned a consensus rating of “Buy” from the eight brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $66.00.

A number of research firms recently weighed in on IBP. KeyCorp restated a “hold” rating on shares of Installed Building Products in a report on Wednesday, November 1st. Zacks Investment Research upgraded Installed Building Products from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a report on Friday, October 6th. Credit Suisse Group set a $73.00 price target on Installed Building Products and gave the stock an “outperform” rating in a report on Tuesday, October 17th. SunTrust Banks, Inc. restated a “buy” rating and issued a $65.00 price target on shares of Installed Building Products in a report on Friday, November 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $69.00 price target on shares of Installed Building Products in a report on Monday, October 16th.

In related news, COO Jay P. Elliott sold 2,500 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $64.61, for a total value of $161,525.00. Following the transaction, the chief operating officer now directly owns 51,312 shares of the company’s stock, valued at approximately $3,315,268.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Michael Nixon sold 13,820 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $60.00, for a total value of $829,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,781 shares of company stock worth $10,088,754. 32.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its position in shares of Installed Building Products by 11.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock worth $100,000 after buying an additional 198 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Installed Building Products in the 1st quarter worth $120,000. Pinebridge Investments L.P. raised its position in shares of Installed Building Products by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock worth $140,000 after buying an additional 34 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Installed Building Products by 32.9% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock worth $207,000 after buying an additional 793 shares during the period. Finally, D.A. Davidson & CO. raised its position in shares of Installed Building Products by 12.8% in the 2nd quarter. D.A. Davidson & CO. now owns 3,209 shares of the construction company’s stock worth $169,000 after buying an additional 364 shares during the period. 65.41% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Installed Building Products (NYSE IBP) traded up $4.80 during mid-day trading on Friday, hitting $67.30. The stock had a trading volume of 404,000 shares, compared to its average volume of 149,880. The stock has a market cap of $1,991.41, a P/E ratio of 47.71 and a beta of 0.84. Installed Building Products has a fifty-two week low of $38.15 and a fifty-two week high of $70.25. The company has a current ratio of 2.22, a quick ratio of 1.93 and a debt-to-equity ratio of 1.70.

Installed Building Products (NYSE:IBP) last issued its earnings results on Friday, November 3rd. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The business had revenue of $295.20 million for the quarter, compared to analysts’ expectations of $292.51 million. Installed Building Products had a return on equity of 23.40% and a net margin of 3.88%. The business’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. analysts expect that Installed Building Products will post 1.48 earnings per share for the current 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.

Analyst Recommendations for Installed Building Products (NYSE:IBP)

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