News stories about Installed Building Prods (NYSE:IBP) have trended somewhat positive recently, Accern reports. Accern scores the sentiment of press coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Installed Building Prods earned a coverage optimism score of 0.11 on Accern’s scale. Accern also assigned media coverage about the construction company an impact score of 47.1874789832897 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the headlines that may have effected Accern Sentiment Analysis’s scoring:
- Head to Head Analysis: Installed Building Prods (IBP) vs. Lennar (LEN) (americanbankingnews.com)
- Installed Building Products (IBP) Downgraded by ValuEngine to “Sell” (americanbankingnews.com)
- Installed Building Products (IBP) Rating Lowered to Hold at Zacks Investment Research (americanbankingnews.com)
- Installed Building Products (IBP) & Gafisa (GFA) Financial Review (americanbankingnews.com)
Shares of IBP traded down $2.20 during mid-day trading on Friday, reaching $59.15. The company had a trading volume of 352,149 shares, compared to its average volume of 272,843. The firm has a market cap of $1,879.86, a PE ratio of 49.71, a price-to-earnings-growth ratio of 0.91 and a beta of 0.91. Installed Building Prods has a fifty-two week low of $46.65 and a fifty-two week high of $79.40. The company has a quick ratio of 1.92, a current ratio of 2.22 and a debt-to-equity ratio of 1.60.
Installed Building Prods declared that its Board of Directors has approved a share buyback plan on Wednesday, February 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
A number of research analysts have recently weighed in on IBP shares. Zacks Investment Research raised shares of Installed Building Prods from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Wednesday, March 14th. Royal Bank of Canada set a $71.00 target price on shares of Installed Building Prods and gave the stock a “buy” rating in a research report on Thursday, March 1st. Stephens set a $71.00 target price on shares of Installed Building Prods and gave the stock a “buy” rating in a research report on Thursday, March 1st. Zelman & Associates upgraded shares of Installed Building Prods from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Finally, Instinet started coverage on shares of Installed Building Prods in a research report on Tuesday, March 13th. They set a “buy” rating and a $77.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $70.70.
In related news, 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 transaction of $1,490,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $220,500.00. Following the sale, the chief operating officer now directly owns 48,312 shares in the company, valued at approximately $3,550,932. The disclosure for this sale can be found here. Company insiders own 32.90% of the company’s stock.
About Installed Building Prods
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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