Shares of Installed Building Products Inc. (NYSE:IBP) have received an average recommendation of “Buy” from the six research firms that are presently covering the firm. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $33.67.
Several equities analysts have recently commented on IBP shares. Zacks Investment Research upgraded Installed Building Products from a “sell” rating to a “hold” rating in a research note on Thursday, August 18th. Deutsche Bank AG increased their target price on Installed Building Products from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 12th.
Institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its position in shares of Installed Building Products by 36.7% in the second quarter. BlackRock Fund Advisors now owns 1,561,929 shares of the company’s stock valued at $56,682,000 after buying an additional 419,681 shares during the period. Waddell & Reed Financial Inc. boosted its position in shares of Installed Building Products by 386.0% in the second quarter. Waddell & Reed Financial Inc. now owns 291,500 shares of the company’s stock valued at $10,578,000 after buying an additional 231,523 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Installed Building Products by 43.0% in the second quarter. Dimensional Fund Advisors LP now owns 580,137 shares of the company’s stock valued at $21,052,000 after buying an additional 174,495 shares during the period. UBS Group AG boosted its position in shares of Installed Building Products by 17.8% in the first quarter. UBS Group AG now owns 690,695 shares of the company’s stock valued at $18,380,000 after buying an additional 104,493 shares during the period. Finally, Cortina Asset Management LLC purchased a new position in shares of Installed Building Products during the second quarter valued at about $3,623,000. Hedge funds and other institutional investors own 62.11% of the company’s stock.
Shares of Installed Building Products (NYSE:IBP) traded up 1.89% during trading on Wednesday, reaching $36.16. 30,611 shares of the company’s stock traded hands. Installed Building Products has a 1-year low of $17.60 and a 1-year high of $38.97. The company has a 50 day moving average of $34.22 and a 200-day moving average of $32.54. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 32.87 and a beta of 0.53.
Installed Building Products (NYSE:IBP) last released its earnings results on Friday, August 5th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The business had revenue of $211.90 million for the quarter, compared to analysts’ expectations of $212.87 million. Installed Building Products had a net margin of 4.45% and a return on equity of 29.31%. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. Equities analysts predict that Installed Building Products will post $1.43 earnings per share for the current year.
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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