Shares of Installed Building Products, Inc. (NYSE:IBP) have been given a consensus recommendation of “Buy” by the six research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $63.25.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 24th. BidaskClub cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Deutsche Bank AG upped their price target on shares of Installed Building Products from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, August 21st. Royal Bank Of Canada upped their price target on shares of Installed Building Products from $61.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, August 7th. Finally, Credit Suisse Group assumed 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 target for the company.

Installed Building Products (NYSE:IBP) traded down 1.73% on Tuesday, hitting $56.70. The stock had a trading volume of 23,441 shares. Installed Building Products has a one year low of $30.75 and a one year high of $60.00. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 43.55 and a beta of 0.81. The company’s 50-day moving average price is $54.97 and its 200 day moving average price is $51.55.

Installed Building Products (NYSE:IBP) last announced its quarterly 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. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. The firm had revenue of $282.20 million during the quarter, compared to analysts’ expectations of $274.63 million. During the same period in the prior year, the company earned $0.34 EPS. The firm’s revenue was up 33.2% on a year-over-year basis. Analysts expect that Installed Building Products will post $2.24 earnings per share for the current year.

In other Installed Building Products news, VP Michael Thomas Miller sold 1,661 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $60.00, for a total value of $99,660.00. Following the transaction, the vice president now owns 32,086 shares in the company, valued at approximately $1,925,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey W. Edwards sold 600,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $52.50, for a total transaction of $31,500,000.00. Following the completion of the transaction, the chief executive officer now owns 504,800 shares in the company, valued at approximately $26,502,000. The disclosure for this sale can be found here. Insiders sold a total of 607,265 shares of company stock worth $31,915,292 in the last quarter. 32.90% of the stock is currently owned by company insiders.

Institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its position in shares of Installed Building Products by 11.7% in the second quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock worth $100,000 after buying an additional 198 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Installed Building Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the construction company’s stock worth $116,000 after buying an additional 60 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of Installed Building Products during the first quarter worth approximately $120,000. Pinebridge Investments L.P. raised its position in shares of Installed Building Products by 1.3% in the second quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock worth $140,000 after buying an additional 34 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Installed Building Products by 12.8% in the second quarter. D.A. Davidson & CO. now owns 3,209 shares of the construction company’s stock worth $169,000 after buying an additional 364 shares in the last quarter. Hedge funds and other institutional investors own 65.60% of the company’s stock.

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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. 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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