ValuEngine upgraded shares of Installed Building Prods (NYSE:IBP) from a sell rating to a hold rating in a report issued on Saturday, March 10th.
Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada set a $71.00 price target on Installed Building Prods and gave the company a buy rating in a report on Thursday, March 1st. Stephens set a $71.00 target price on Installed Building Prods and gave the stock a buy rating in a research note on Thursday, March 1st. Zelman & Associates raised Installed Building Prods from a hold rating to a buy rating in a research note on Friday, February 16th. Jefferies Group assumed coverage on Installed Building Prods in a research note on Tuesday, December 12th. They set a hold rating and a $69.00 target price for the company. Finally, Credit Suisse Group reissued an outperform rating and set a $85.00 target price (up previously from $73.00) on shares of Installed Building Prods in a research note on Monday, January 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Installed Building Prods currently has a consensus rating of Buy and a consensus target price of $70.70.
Shares of NYSE:IBP traded up $2.95 during midday trading on Friday, hitting $59.00. The company had a trading volume of 245,538 shares, compared to its average volume of 272,416. Installed Building Prods has a twelve month low of $46.65 and a twelve month high of $79.40. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.92 and a current ratio of 2.22. The stock has a market cap of $1,830.48, a PE ratio of 49.58, a P/E/G ratio of 0.88 and a beta of 0.91.
Installed Building Prods announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 28th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other news, COO Jay P. Elliott sold 3,000 shares of Installed Building Prods stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $73.50, for a total value of $220,500.00. Following the completion of the sale, the chief operating officer now directly owns 48,312 shares of the company’s stock, valued at $3,550,932. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Michael Nixon sold 20,000 shares of Installed Building Prods stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $74.50, for a total value of $1,490,000.00. The disclosure for this sale can be found here. Insiders own 32.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of IBP. Ameritas Investment Partners Inc. boosted its holdings in Installed Building Prods by 11.7% in the second quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock valued at $100,000 after purchasing an additional 198 shares during the period. American Century Companies Inc. boosted its holdings in Installed Building Prods by 0.7% in the third quarter. American Century Companies Inc. now owns 116,938 shares of the construction company’s stock valued at $7,578,000 after purchasing an additional 782 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Installed Building Prods by 32.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock valued at $207,000 after purchasing an additional 793 shares during the period. Campbell Newman Asset Management Inc. boosted its holdings in Installed Building Prods by 22.7% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 4,445 shares of the construction company’s stock valued at $338,000 after purchasing an additional 821 shares during the period. Finally, Swiss National Bank boosted its holdings in Installed Building Prods by 2.7% in the fourth quarter. Swiss National Bank now owns 38,033 shares of the construction company’s stock valued at $2,889,000 after purchasing an additional 1,000 shares during the period. 68.26% of the stock is owned by institutional investors and hedge funds.
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Installed Building Prods 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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