Shares of Installed Building Products Inc (NYSE:IBP) have received a consensus recommendation of “Buy” from the six brokerages that are presently covering the company. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $44.00.
Several research firms have recently issued reports on IBP. Zacks Investment Research lowered shares of Installed Building Products from a “hold” rating to a “sell” rating in a research note on Wednesday, March 1st. Seaport Global Securities began coverage on shares of Installed Building Products in a research note on Tuesday, November 22nd. They issued a “buy” rating and a $52.00 target price for the company.
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In related news, COO Jay P. Elliott sold 5,000 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $47.00, for a total transaction of $235,000.00. Following the completion of the transaction, the chief operating officer now owns 55,100 shares in the company, valued at $2,589,700. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director J Michael Nixon sold 22,979 shares of the stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $1,148,950.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 292,923 shares of company stock valued at $13,284,320. Company insiders own 35.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of IBP. Municipal Employees Retirement System of Michigan raised its position in 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 last quarter. State Board of Administration of Florida Retirement System bought a new position in Installed Building Products during the fourth quarter valued at $226,000. Shaker Investments LLC OH bought a new position in Installed Building Products during the third quarter valued at $201,000. South Dakota Investment Council bought a new position in Installed Building Products during the third quarter valued at $287,000. Finally, Louisiana State Employees Retirement System raised its position in Installed Building Products by 18.9% in the third quarter. Louisiana State Employees Retirement System now owns 8,800 shares of the company’s stock valued at $316,000 after buying an additional 1,400 shares during the last quarter. Institutional investors own 69.70% of the company’s stock.
Shares of Installed Building Products (NYSE:IBP) traded down 1.05% during mid-day trading on Monday, reaching $51.90. 44,010 shares of the company’s stock traded hands. The firm has a 50-day moving average of $44.70 and a 200 day moving average of $39.72. The company has a market cap of $1.63 billion, a P/E ratio of 42.26 and a beta of 0.78. Installed Building Products has a 12-month low of $24.43 and a 12-month high of $52.70.
Installed Building Products (NYSE:IBP) last posted its earnings results on Monday, February 27th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.04. Installed Building Products had a net margin of 4.47% and a return on equity of 29.06%. The firm earned $233.98 million during the quarter, compared to analyst estimates of $232.77 million. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue was up 22.2% compared to the same quarter last year. Equities analysts forecast that Installed Building Products will post $2.22 EPS for the current year.
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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