BTIG Research started coverage on shares of Installed Building Products (NYSE:IBP) in a research report released on Thursday, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $85.00 price objective on the construction company’s stock.
IBP has been the topic of several other reports. Goldman Sachs Group initiated coverage on shares of Installed Building Products in a research note on Friday, December 6th. They set a neutral rating and a $74.00 price objective on the stock. SunTrust Banks upped their price objective on shares of Installed Building Products to $71.00 and gave the stock a hold rating in a research note on Monday, November 4th. ValuEngine raised shares of Installed Building Products from a sell rating to a hold rating in a research note on Thursday, October 17th. Zacks Investment Research raised shares of Installed Building Products from a hold rating to a strong-buy rating and set a $81.00 price objective on the stock in a research note on Thursday, November 7th. Finally, Deutsche Bank initiated coverage on shares of Installed Building Products in a research note on Wednesday, November 27th. They set a buy rating and a $82.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $62.57.
NYSE IBP traded up $1.94 on Thursday, reaching $70.70. The company’s stock had a trading volume of 4,624 shares, compared to its average volume of 144,059. The firm has a market cap of $2.15 billion, a PE ratio of 26.38, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16. The business has a 50-day moving average price of $69.92 and a 200 day moving average price of $59.70. Installed Building Products has a 52 week low of $30.54 and a 52 week high of $76.60. The company has a current ratio of 2.69, a quick ratio of 2.39 and a debt-to-equity ratio of 2.52.
Installed Building Products (NYSE:IBP) last posted its earnings results on Friday, November 1st. The construction company reported $0.99 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.13. The business had revenue of $396.40 million for the quarter, compared to analysts’ expectations of $385.46 million. Installed Building Products had a net margin of 4.47% and a return on equity of 45.94%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Analysts anticipate that Installed Building Products will post 3.07 earnings per share for the current fiscal year.
In related news, COO Jay P. Elliott sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.83, for a total value of $1,416,600.00. Following the transaction, the chief operating officer now directly owns 23,529 shares in the company, valued at $1,666,559.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vikas Verma sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $62.00, for a total transaction of $620,000.00. Following the completion of the transaction, the director now owns 131,935 shares in the company, valued at $8,179,970. The disclosure for this sale can be found here. Insiders have sold 60,000 shares of company stock worth $3,966,600 over the last three months. 25.20% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its position in Installed Building Products by 273.2% in the first quarter. First Trust Advisors LP now owns 57,557 shares of the construction company’s stock valued at $2,792,000 after purchasing an additional 42,136 shares in the last quarter. Arizona State Retirement System raised its position in shares of Installed Building Products by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 32,589 shares of the construction company’s stock valued at $1,930,000 after buying an additional 284 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Installed Building Products in the 2nd quarter valued at approximately $1,712,000. BNP Paribas Arbitrage SA raised its position in shares of Installed Building Products by 171.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,972 shares of the construction company’s stock valued at $827,000 after buying an additional 8,833 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Installed Building Products by 84.1% in the 2nd quarter. KBC Group NV now owns 19,037 shares of the construction company’s stock valued at $1,127,000 after buying an additional 8,698 shares in the last quarter. Institutional investors and hedge funds own 68.27% of the company’s stock.
Installed Building Products Company Profile
Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, 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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