Installed Building Products Inc. (IBP) PT Raised to $45.00
Installed Building Products Inc. (NYSE:IBP) had its price objective hoisted by equities researchers at RBC Capital Markets from $40.00 to $45.00 in a research note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the stock. RBC Capital Markets’ price objective indicates a potential upside of 10.16% from the company’s current price.
IBP has been the topic of a number of other reports. Zacks Investment Research upgraded Installed Building Products from a “sell” rating to a “hold” rating in a research report on Thursday, August 18th. Deutsche Bank AG increased their target price on Installed Building Products from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Finally, Royal Bank Of Canada increased their target price on Installed Building Products from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.20.
Installed Building Products (NYSE:IBP) opened at 40.85 on Wednesday. Installed Building Products has a 52 week low of $17.60 and a 52 week high of $41.20. The stock has a market cap of $1.28 billion, a PE ratio of 34.91 and a beta of 0.61. The company has a 50-day moving average price of $35.16 and a 200-day moving average price of $34.28.
Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.07. Installed Building Products had a net margin of 4.47% and a return on equity of 29.06%. The company earned $225.40 million during the quarter, compared to the consensus estimate of $234 million. During the same quarter last year, the company earned $0.32 earnings per share. The business’s revenue was up 24.1% on a year-over-year basis. Analysts anticipate that Installed Building Products will post $1.33 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in IBP. Mason Street Advisors LLC purchased a new position in shares of Installed Building Products during the second quarter valued at about $118,000. SG Americas Securities LLC purchased a new position in shares of Installed Building Products during the third quarter valued at about $119,000. Municipal Employees Retirement System of Michigan raised its position 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 during the period. Creative Planning raised 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 valued at $161,000 after buying an additional 4,257 shares during the period. Finally, BNP Paribas Arbitrage SA raised 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 valued at $196,000 after buying an additional 2,726 shares during the period. Institutional investors own 64.25% of the company’s stock.
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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