Analysts Set Installed Building Products Inc (IBP) Price Target at $49.80

Shares of Installed Building Products Inc (NYSE:IBP) have earned a consensus recommendation of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $49.80.

Several equities research analysts recently commented on the stock. Nomura cut their price target on shares of Installed Building Products from $58.00 to $41.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Credit Suisse Group set a $38.00 price target on shares of Installed Building Products and gave the stock a “hold” rating in a report on Friday, November 2nd. Royal Bank of Canada lowered shares of Installed Building Products from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $46.00 to $43.00 in a report on Friday. Seaport Global Securities lowered shares of Installed Building Products from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Friday, November 2nd. Finally, Macquarie assumed coverage on shares of Installed Building Products in a report on Wednesday, September 26th. They issued a “hold” rating and a $50.00 price target for the company.

In related news, CEO Jeffrey W. Edwards sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $34.11, for a total value of $5,116,500.00. Following the completion of the transaction, the chief executive officer now directly owns 300,159 shares of the company’s stock, valued at $10,238,423.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 31.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of IBP. State of Alaska Department of Revenue raised its position in Installed Building Products by 6.3% in the fourth quarter. State of Alaska Department of Revenue now owns 7,308 shares of the construction company’s stock worth $246,000 after acquiring an additional 433 shares in the last quarter. Teachers Advisors LLC raised its position in Installed Building Products by 2.9% in the third quarter. Teachers Advisors LLC now owns 45,553 shares of the construction company’s stock worth $1,777,000 after acquiring an additional 1,282 shares in the last quarter. Vanguard Group Inc increased its position in shares of Installed Building Products by 7.1% in the third quarter. Vanguard Group Inc now owns 2,168,058 shares of the construction company’s stock valued at $84,553,000 after buying an additional 142,853 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Installed Building Products by 7.1% in the third quarter. Vanguard Group Inc. now owns 2,168,058 shares of the construction company’s stock valued at $84,553,000 after buying an additional 142,853 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Installed Building Products by 36.9% in the third quarter. Morgan Stanley now owns 414,961 shares of the construction company’s stock valued at $16,183,000 after buying an additional 111,792 shares in the last quarter. 71.13% of the stock is owned by hedge funds and other institutional investors.

NYSE:IBP opened at $39.27 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.59 and a debt-to-equity ratio of 2.04. The company has a market cap of $1.24 billion, a PE ratio of 33.00, a PEG ratio of 1.10 and a beta of 1.21. Installed Building Products has a 1-year low of $29.24 and a 1-year high of $75.75.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, November 1st. The construction company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.07). The firm had revenue of $349.00 million for the quarter, compared to analysts’ expectations of $346.39 million. Installed Building Products had a net margin of 3.82% and a return on equity of 29.03%. Installed Building Products’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the firm earned $0.57 earnings per share. Analysts expect that Installed Building Products will post 2.45 earnings per share for the current fiscal year.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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Analyst Recommendations for Installed Building Products (NYSE:IBP)

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