Brokerages Set Installed Building Products Inc. (IBP) PT at $33.67
Shares of Installed Building Products Inc. (NYSE:IBP) have been given an average recommendation of “Buy” by the six research firms that are currently covering the stock. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $33.67.
A number of research analysts have recently weighed in on IBP shares. Zacks Investment Research cut shares of Installed Building Products from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. Deutsche Bank AG lifted their target price on shares of Installed Building Products from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, August 12th.
A number of hedge funds have recently added to or reduced their stakes in IBP. Mason Street Advisors LLC bought a new stake in shares of Installed Building Products during the second quarter valued at about $118,000. SG Americas Securities LLC bought a new stake in shares of Installed Building Products during the third quarter valued at about $119,000. Municipal Employees Retirement System of Michigan boosted its stake in shares of Installed Building Products by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,680 shares of the company’s stock valued at $132,000 after buying an additional 60 shares in the last quarter. Creative Planning boosted its stake 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 valued at $161,000 after buying an additional 4,257 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake 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 valued at $196,000 after buying an additional 2,726 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Installed Building Products (NYSE:IBP) opened at 38.40 on Thursday. The stock has a 50 day moving average price of $34.84 and a 200 day moving average price of $34.10. Installed Building Products has a 52 week low of $17.60 and a 52 week high of $38.97. The firm has a market capitalization of $1.20 billion, a PE ratio of 32.82 and a beta of 0.61.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.07. Installed Building Products had a return on equity of 29.06% and a net margin of 4.47%. The business had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $234 million. During the same period last year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. Equities analysts forecast that Installed Building Products will post $1.33 earnings per share for the current fiscal year.
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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