Zacks Investment Research upgraded shares of Installed Building Products Inc. (NYSE:IBP) from a hold rating to a buy rating in a research report report published on Wednesday morning. They currently have $46.00 price objective on the stock.

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. “

A number of other equities research analysts also recently issued reports on the company. Deutsche Bank AG upped their price objective on Installed Building Products from $34.00 to $35.00 and gave the company a buy rating in a research report on Friday, August 12th. Royal Bank Of Canada increased their price target on Installed Building Products from $40.00 to $45.00 and gave the stock an outperform rating in a report on Wednesday, November 16th. Seaport Global Securities assumed coverage on Installed Building Products in a report on Tuesday, November 22nd. They issued a buy rating and a $52.00 price target on the stock. Finally, RBC Capital Markets increased their price target on Installed Building Products from $40.00 to $45.00 and gave the stock an outperform rating in a report on Wednesday, November 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $42.17.

Shares of Installed Building Products (NYSE:IBP) opened at 41.50 on Wednesday. The company has a market capitalization of $1.30 billion, a P/E ratio of 35.47 and a beta of 0.61. Installed Building Products has a 12-month low of $17.60 and a 12-month high of $42.75. The firm has a 50-day moving average price of $36.10 and a 200 day moving average price of $34.90.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.38 earnings per share (EPS) 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 had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $234 million. During the same quarter last year, the company earned $0.32 earnings per share. The company’s revenue for the quarter was up 24.1% on a year-over-year basis. On average, equities research analysts predict that Installed Building Products will post $1.33 earnings per share for the current year.

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In other Installed Building Products news, Director J Michael Nixon sold 50,000 shares of the stock in a transaction on Friday, November 25th. The stock was sold at an average price of $42.01, for a total transaction of $2,100,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 35.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors boosted its stake in shares of Installed Building Products by 11.4% in the third quarter. BlackRock Fund Advisors now owns 1,740,344 shares of the company’s stock valued at $62,426,000 after buying an additional 178,415 shares during the period. Vanguard Group Inc. boosted its stake 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 during the period. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Installed Building Products by 2.7% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 715,344 shares of the company’s stock valued at $25,659,000 after buying an additional 19,010 shares during the period. Emerald Advisers Inc. PA boosted its stake 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 during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Installed Building Products by 5.1% in the third quarter. Principal Financial Group Inc. now owns 587,340 shares of the company’s stock valued at $21,068,000 after buying an additional 28,481 shares during the period. 68.20% of the stock is currently owned by institutional investors and hedge funds.

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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