Installed Building Products Inc. (NYSE:IBP) Given Consensus Rating of “Buy” by Brokerages
Installed Building Products Inc. (NYSE:IBP) has received a consensus rating of “Buy” from the six analysts that are presently covering the firm. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $33.67.
A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Installed Building Products from a “sell” rating to a “hold” rating in a report on Thursday, August 18th. Deutsche Bank AG raised their price objective on shares of Installed Building Products from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 12th.
Shares of Installed Building Products (NYSE:IBP) traded up 1.89% during mid-day trading on Wednesday, reaching $36.16. 30,611 shares of the company were exchanged. The stock has a 50 day moving average price of $34.22 and a 200-day moving average price of $32.54. Installed Building Products has a 12 month low of $17.60 and a 12 month high of $38.97. The stock has a market capitalization of $1.13 billion, a P/E ratio of 32.87 and a beta of 0.53.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. Installed Building Products had a return on equity of 29.31% and a net margin of 4.45%. The firm earned $211.90 million during the quarter, compared to analysts’ expectations of $212.87 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The firm’s revenue was up 32.7% compared to the same quarter last year. Analysts predict that Installed Building Products will post $1.43 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in IBP. Mason Street Advisors LLC acquired a new position in shares of Installed Building Products during the second quarter worth approximately $118,000. Creative Planning boosted its position in shares of Installed Building Products by 2,432.6% in the second quarter. Creative Planning now owns 4,432 shares of the company’s stock worth $161,000 after buying an additional 4,257 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Installed Building Products by 102.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,398 shares of the company’s stock worth $196,000 after buying an additional 2,726 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Installed Building Products during the second quarter worth approximately $216,000. Finally, Trexquant Investment LP acquired a new position in shares of Installed Building Products during the second quarter worth approximately $225,000. 62.11% of the stock is currently owned by institutional investors and hedge funds.
Installed Building Products Company Profile
Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. The Company’s national platform consists of over 100 locations accessing customers in approximately 50 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 provide cross-selling opportunities to supplement the insulation installation business.
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