Installed Building Products’ (IBP) Outperform Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reaffirmed their outperform rating on shares of Installed Building Products (NYSE:IBP) in a research note issued to investors on Monday morning, The Fly reports. They currently have a $85.00 target price on the construction company’s stock, up from their previous target price of $73.00. The analysts noted that the move was a valuation call.

A number of other equities analysts also recently commented on the stock. Zelman & Associates downgraded shares of Installed Building Products from a buy rating to a hold rating in a research note on Friday, January 5th. Jefferies Group assumed coverage on shares of Installed Building Products in a research note on Tuesday, December 12th. They issued a hold rating and a $69.00 price objective for the company. SunTrust Banks restated a buy rating and issued a $65.00 price objective on shares of Installed Building Products in a research note on Friday, November 3rd. KeyCorp restated a hold rating on shares of Installed Building Products in a research note on Wednesday, November 1st. Finally, Zacks Investment Research downgraded shares of Installed Building Products from a buy rating to a hold rating in a research note on Monday, October 23rd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Installed Building Products presently has a consensus rating of Buy and an average target price of $69.14.

Installed Building Products (NYSE IBP) opened at $73.35 on Monday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.93 and a current ratio of 2.22. The company has a market cap of $2,350.00, a price-to-earnings ratio of 55.99 and a beta of 0.87. Installed Building Products has a 12 month low of $40.00 and a 12 month high of $79.40.

Installed Building Products (NYSE:IBP) last issued 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). The firm had revenue of $295.20 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. analysts expect that Installed Building Products will post 1.46 EPS for the current year.

In other Installed Building Products news, Director Vikas Verma bought 3,318 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average price of $59.98 per share, for a total transaction of $199,013.64. Following the completion of the purchase, the director now owns 230,251 shares of the company’s stock, valued at $13,810,454.98. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jeffrey W. Edwards sold 200,000 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $74.25, for a total transaction of $14,850,000.00. Following the sale, the chief executive officer now owns 504,800 shares of the company’s stock, valued at approximately $37,481,400. The disclosure for this sale can be found here. Insiders sold 270,000 shares of company stock valued at $20,018,500 in the last 90 days. 32.90% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Pinebridge Investments L.P. boosted its stake in shares of Installed Building Products by 1.3% during the second 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. Ameritas Investment Partners Inc. boosted its stake in shares of Installed Building Products by 11.7% during the second 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. D.A. Davidson & CO. boosted its stake in shares of Installed Building Products by 12.8% during the second 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. Nationwide Fund Advisors boosted its stake in shares of Installed Building Products by 4.4% during the second quarter. Nationwide Fund Advisors now owns 12,210 shares of the construction company’s stock worth $647,000 after buying an additional 509 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Installed Building Products by 0.7% during the third quarter. American Century Companies Inc. now owns 116,938 shares of the construction company’s stock worth $7,578,000 after buying an additional 782 shares during the period. Institutional investors and hedge funds own 65.14% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Installed Building Products (NYSE:IBP)

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