Credit Suisse Group set a $73.00 target price on Installed Building Products, Inc. (NYSE:IBP) in a research note published on Tuesday, October 17th. The firm currently has an outperform rating on the construction company’s stock.
Other analysts have also issued research reports about the stock. Deutsche Bank AG lifted their target price on shares of Installed Building Products from $58.00 to $62.00 and gave the stock a buy rating in a report on Monday, August 21st. BidaskClub raised shares of Installed Building Products from a hold rating to a buy rating in a report on Saturday, August 12th. Royal Bank Of Canada reissued a buy rating and issued a $61.00 price target on shares of Installed Building Products in a report on Monday, June 19th. Zacks Investment Research raised shares of Installed Building Products from a hold rating to a buy rating and set a $73.00 price target for the company in a report on Friday, October 6th. Finally, KeyCorp reaffirmed a hold rating on shares of Installed Building Products in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Installed Building Products presently has an average rating of Buy and an average price target of $67.17.
Installed Building Products (IBP) traded down $0.05 on Tuesday, reaching $64.80. 223,387 shares of the company’s stock traded hands, compared to its average volume of 171,641. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.98 and a current ratio of 2.28. Installed Building Products has a 1 year low of $33.20 and a 1 year high of $70.25. The firm has a market capitalization of $2,060.00, a P/E ratio of 49.50 and a beta of 0.84.
Installed Building Products (NYSE:IBP) last released its earnings results on Friday, November 3rd. The construction company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Installed Building Products had a return on equity of 24.34% and a net margin of 3.88%. The business had revenue of $295.20 million for the quarter, compared to analyst estimates of $292.51 million. During the same period in the prior year, the firm posted $0.38 EPS. Installed Building Products’s revenue was up 31.0% on a year-over-year basis. analysts forecast that Installed Building Products will post 1.48 earnings per share for the current year.
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In other Installed Building Products news, Director J Michael Nixon sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Todd R. Fry sold 1,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $58.00, for a total transaction of $58,000.00. Following the completion of the sale, the insider now directly owns 4,091 shares in the company, valued at $237,278. The disclosure for this sale can be found here. Insiders sold a total of 168,459 shares of company stock worth $10,366,576 over the last ninety days. 32.90% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Alps Advisors Inc. grew its stake in Installed Building Products by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,664 shares of the construction company’s stock valued at $512,000 after buying an additional 25 shares during the last quarter. Pinebridge Investments L.P. grew its stake in 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 valued at $140,000 after buying an additional 34 shares during the last quarter. Arizona State Retirement System grew its stake in Installed Building Products by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the construction company’s stock valued at $556,000 after buying an additional 100 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Installed Building Products by 6.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,421 shares of the construction company’s stock valued at $128,000 after buying an additional 155 shares during the last quarter. Finally, Texas Permanent School Fund grew its stake in Installed Building Products by 1.1% in the 2nd quarter. Texas Permanent School Fund now owns 14,653 shares of the construction company’s stock valued at $776,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 64.84% of the company’s stock.
About Installed Building Products
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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