Seaport Global Securities initiated coverage on shares of Installed Building Products Inc. (NYSE:IBP) in a report published on Tuesday morning. The firm issued a buy rating and a $52.00 target price on the stock.

Other equities research analysts have also issued reports about the stock. RBC Capital Markets upped their price objective on shares of Installed Building Products from $40.00 to $45.00 and gave the company an outperform rating in a research note on Wednesday, November 16th. Royal Bank Of Canada upped their price objective on shares of Installed Building Products from $40.00 to $45.00 and gave the company an outperform rating in a research note on Wednesday, November 16th. Zacks Investment Research raised shares of Installed Building Products from a sell rating to a hold rating in a research note on Wednesday, October 12th. Finally, Deutsche Bank AG upped their price objective on shares of Installed Building Products from $34.00 to $35.00 and gave the company a buy rating in a research note on Friday, August 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $40.50.

Analyst Recommendations for Installed Building Products (NYSE:IBP)

Shares of Installed Building Products (NYSE:IBP) traded up 1.09% during midday trading on Tuesday, reaching $41.70. 31,927 shares of the company’s stock traded hands. Installed Building Products has a 52-week low of $17.60 and a 52-week high of $41.95. The firm has a market cap of $1.31 billion, a PE ratio of 35.64 and a beta of 0.61. The company has a 50 day moving average of $35.59 and a 200 day moving average of $34.64.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 business earned $225.40 million during the quarter, compared to analyst estimates of $234 million. During the same quarter last year, the company posted $0.32 earnings per share. The company’s revenue was up 24.1% compared to the same quarter last year. On average, equities analysts predict that Installed Building Products will post $1.33 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Equity Management acquired a new position in Installed Building Products during the third quarter worth $16,719,000. BlackRock Fund Advisors raised its position in Installed Building Products by 36.7% in the second quarter. BlackRock Fund Advisors now owns 1,561,929 shares of the company’s stock worth $56,682,000 after buying an additional 419,681 shares during the period. Waddell & Reed Financial Inc. raised its position in Installed Building Products by 386.0% in the second quarter. Waddell & Reed Financial Inc. now owns 291,500 shares of the company’s stock worth $10,578,000 after buying an additional 231,523 shares during the period. Dimensional Fund Advisors LP raised its position in Installed Building Products by 43.0% in the second quarter. Dimensional Fund Advisors LP now owns 580,137 shares of the company’s stock worth $21,052,000 after buying an additional 174,495 shares during the period. Finally, Kornitzer Capital Management Inc. KS raised its position in Installed Building Products by 402.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 140,635 shares of the company’s stock worth $5,045,000 after buying an additional 112,635 shares during the period. 64.45% of the stock is currently owned by hedge funds and other institutional investors.

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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.

5 Day Chart for NYSE:IBP

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