Brokerages Set Installed Building Products Inc (IBP) PT at $49.80

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Installed Building Products Inc (NYSE:IBP) has been assigned an average rating of “Hold” from the fourteen analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $49.80.

A number of research firms have issued reports on IBP. ValuEngine cut shares of Installed Building Products from a “sell” rating to a “strong sell” rating in a research report on Friday, September 21st. Macquarie began coverage on shares of Installed Building Products in a research note on Wednesday, September 26th. They set a “hold” rating and a $50.00 target price on the stock. Royal Bank of Canada lowered shares of Installed Building Products from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $46.00 to $43.00 in a research note on Friday. Deutsche Bank lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and cut their target price for the company from $44.00 to $38.00 in a research note on Tuesday, December 4th. Finally, TheStreet lowered shares of Installed Building Products from a “b” rating to a “c+” rating in a research note on Thursday, October 4th.

IBP stock opened at $39.27 on Friday. Installed Building Products has a 12-month low of $29.24 and a 12-month high of $75.75. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 33.00, a PEG ratio of 1.10 and a beta of 1.21. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.30 and a current ratio of 2.59.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, November 1st. The construction company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.07). Installed Building Products had a net margin of 3.82% and a return on equity of 29.03%. The firm had revenue of $349.00 million during the quarter, compared to analysts’ expectations of $346.39 million. During the same quarter in the previous year, the firm posted $0.57 EPS. Installed Building Products’s revenue was up 18.2% compared to the same quarter last year. As a group, equities analysts predict that Installed Building Products will post 2.45 EPS for the current year.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Installed Building Products by 5.7% during the third quarter. BlackRock Inc. now owns 3,350,626 shares of the construction company’s stock valued at $130,675,000 after buying an additional 179,725 shares during the last quarter. Vanguard Group Inc. boosted 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 worth $84,553,000 after purchasing an additional 142,853 shares during the period. Vanguard Group Inc boosted 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 worth $84,553,000 after purchasing an additional 142,853 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Installed Building Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 896,713 shares of the construction company’s stock worth $50,711,000 after purchasing an additional 13,470 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of Installed Building Products by 11.3% in the third quarter. Neuberger Berman Group LLC now owns 790,120 shares of the construction company’s stock worth $30,815,000 after purchasing an additional 80,105 shares during the period. 71.13% of the stock is owned by hedge funds and other institutional investors.

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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