Zacks Investment Research upgraded shares of Installed Building Products Inc. (NYSE:IBP) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “

Separately, Deutsche Bank AG raised their price target on shares of Installed Building Products from $34.00 to $35.00 and gave the company a buy rating in a research report on Friday, August 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $34.25.

Installed Building Products (NYSE:IBP) opened at 35.40 on Wednesday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 32.18 and a beta of 0.53. Installed Building Products has a 12 month low of $17.60 and a 12 month high of $38.97. The firm’s 50 day moving average is $35.04 and its 200-day moving average is $32.90.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Friday, August 5th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. Installed Building Products had a net margin of 4.45% and a return on equity of 29.31%. The firm had revenue of $211.90 million for the quarter, compared to the consensus estimate of $212.87 million. During the same period in the previous year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. On average, equities analysts forecast that Installed Building Products will post $1.43 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors boosted its position in shares of Installed Building Products by 36.7% in the second quarter. BlackRock Fund Advisors now owns 1,561,929 shares of the company’s stock valued at $56,682,000 after buying an additional 419,681 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Installed Building Products by 9.5% in the second quarter. Vanguard Group Inc. now owns 832,654 shares of the company’s stock valued at $30,217,000 after buying an additional 72,239 shares in the last quarter. Emerald Mutual Fund Advisers Trust boosted its position in shares of Installed Building Products by 0.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 696,334 shares of the company’s stock valued at $25,270,000 after buying an additional 4,500 shares in the last quarter. UBS Group AG boosted its position in shares of Installed Building Products by 17.8% in the first quarter. UBS Group AG now owns 690,695 shares of the company’s stock valued at $18,380,000 after buying an additional 104,493 shares in the last quarter. Finally, Emerald Advisers Inc. PA boosted its position in shares of Installed Building Products by 1.1% in the second quarter. Emerald Advisers Inc. PA now owns 603,766 shares of the company’s stock valued at $21,911,000 after buying an additional 6,320 shares in the last quarter. 62.11% of the stock is owned by 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. 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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