Installed Building Products, Inc. (IBP) Rating Reiterated by Royal Bank Of Canada

Installed Building Products, Inc. (NYSE:IBP)‘s stock had its “buy” rating reaffirmed by Royal Bank Of Canada in a research report issued to clients and investors on Monday. They presently have a $61.00 price target on the construction company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 13.38% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. BidaskClub raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 11th. Finally, Seaport Global Securities increased their price objective on shares of Installed Building Products from $55.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $50.75.

Installed Building Products (NYSE:IBP) opened at 53.80 on Monday. Installed Building Products has a one year low of $30.16 and a one year high of $55.45. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 43.42 and a beta of 0.82. The company’s 50-day moving average is $50.50 and its 200 day moving average is $47.01.

Installed Building Products (NYSE:IBP) last announced its earnings results on Friday, May 5th. The construction company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.03. Installed Building Products had a net margin of 4.21% and a return on equity of 26.42%. The firm had revenue of $255.70 million for the quarter, compared to the consensus estimate of $236.19 million. During the same period in the prior year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. Equities analysts expect that Installed Building Products will post $2.23 EPS for the current year.

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In related news, COO Jay P. Elliott sold 4,765 shares of the stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $53.00, for a total value of $252,545.00. Following the transaction, the chief operating officer now directly owns 62,409 shares of the company’s stock, valued at approximately $3,307,677. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey W. Edwards sold 600,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $52.50, for a total transaction of $31,500,000.00. Following the completion of the transaction, the chief executive officer now directly owns 504,800 shares in the company, valued at $26,502,000. The disclosure for this sale can be found here. Insiders sold a total of 609,698 shares of company stock worth $32,010,429 over the last ninety days. Insiders own 32.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in Installed Building Products by 167,701.5% in the first quarter. BlackRock Inc. now owns 2,745,232 shares of the construction company’s stock worth $144,812,000 after buying an additional 2,743,596 shares during the period. Teachers Advisors LLC increased its position in Installed Building Products by 481.2% in the first quarter. Teachers Advisors LLC now owns 213,255 shares of the construction company’s stock worth $11,249,000 after buying an additional 176,562 shares during the period. Dimensional Fund Advisors LP increased its position in Installed Building Products by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 789,371 shares of the construction company’s stock worth $41,639,000 after buying an additional 79,567 shares during the period. Vanguard Group Inc. increased its position in Installed Building Products by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,009,259 shares of the construction company’s stock worth $53,238,000 after buying an additional 60,832 shares during the period. Finally, Morgan Stanley increased its position in Installed Building Products by 70.1% in the first quarter. Morgan Stanley now owns 141,862 shares of the construction company’s stock worth $7,483,000 after buying an additional 58,452 shares during the period. 64.52% of the stock is currently owned by hedge funds and other institutional investors.

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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