Installed Building Products (IBP) Receiving Somewhat Favorable News Coverage, Report Shows
Media stories about Installed Building Products (NYSE:IBP) have been trending somewhat positive on Wednesday, according to Accern Sentiment. The research group ranks the sentiment of press coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Installed Building Products earned a coverage optimism score of 0.15 on Accern’s scale. Accern also assigned news stories about the construction company an impact score of 45.3651114613538 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Shares of Installed Building Products (NYSE IBP) traded up 2.49% on Wednesday, hitting $55.50. 29,943 shares of the stock were exchanged. Installed Building Products has a one year low of $30.75 and a one year high of $60.00. The company has a 50-day moving average price of $54.67 and a 200-day moving average price of $51.15. The firm has a market capitalization of $1.76 billion, a PE ratio of 42.63 and a beta of 0.81.
Installed Building Products (NYSE:IBP) last issued its earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The firm had revenue of $282.20 million during the quarter, compared to analyst estimates of $274.63 million. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. The company’s quarterly revenue was up 33.2% on a year-over-year basis. During the same quarter last year, the business earned $0.34 earnings per share. Equities research analysts expect that Installed Building Products will post $2.24 earnings per share for the current year.
A number of research analysts have recently commented on IBP shares. Credit Suisse Group started coverage on shares of Installed Building Products in a research report on Thursday, June 22nd. They set an “outperform” rating and a $61.00 price objective for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $61.00 price objective on shares of Installed Building Products in a research report on Monday, June 19th. BidaskClub raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research lowered shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 11th. Finally, Seaport Global Securities upped their price objective on shares of Installed Building Products from $55.00 to $61.00 and gave the company a “buy” rating in a research report on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Installed Building Products presently has an average rating of “Buy” and a consensus target price of $59.80.
In other Installed Building Products news, VP Michael Thomas Miller sold 1,661 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $60.00, for a total transaction of $99,660.00. Following the completion of the transaction, the vice president now owns 32,086 shares in the company, valued at $1,925,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margot Lebenberg Carter sold 2,198 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $52.00, for a total transaction of $114,296.00. Following the transaction, the director now owns 8,761 shares of the company’s stock, valued at approximately $455,572. The disclosure for this sale can be found here. Insiders have sold 609,463 shares of company stock valued at $32,029,588 in the last quarter. Company insiders own 32.90% 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. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 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 provides cross-selling opportunities to supplement the insulation installation business.
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