Installed Building Products (IBP) PT Set at $38.00 by Credit Suisse Group

Installed Building Products (NYSE:IBP) received a $38.00 price objective from equities researchers at Credit Suisse Group in a report released on Friday. The brokerage currently has a “hold” rating on the construction company’s stock. Credit Suisse Group’s target price indicates a potential upside of 8.08% from the stock’s previous close.

Several other research analysts have also recently weighed in on IBP. ValuEngine raised Installed Building Products from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Seaport Global Securities cut Installed Building Products from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research note on Friday. Zacks Investment Research cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Royal Bank of Canada set a $46.00 target price on Installed Building Products and gave the company a “buy” rating in a research note on Friday. Finally, Stephens cut Installed Building Products from an “overweight” rating to an “equal weight” rating and set a $37.00 target price for the company. in a research note on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $52.70.

Shares of IBP traded down $0.12 during trading hours on Friday, reaching $35.16. 650,962 shares of the company’s stock traded hands, compared to its average volume of 421,261. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 29.55, a price-to-earnings-growth ratio of 0.54 and a beta of 1.08. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.50 and a current ratio of 2.59. Installed Building Products has a twelve month low of $29.24 and a twelve month high of $79.40.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, November 1st. The construction company reported $0.72 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 business had revenue of $349.00 million for the quarter, compared to analyst estimates of $346.39 million. During the same period last year, the business posted $0.57 earnings per share. Installed Building Products’s revenue for the quarter was up 18.2% on a year-over-year basis. Analysts forecast that Installed Building Products will post 2.63 EPS for the current fiscal year.

In related news, CEO Jeffrey W. Edwards sold 92,649 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $48.46, for a total value of $4,489,770.54. Following the completion of the transaction, the chief executive officer now owns 300,159 shares in the company, valued at approximately $14,545,705.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey W. Edwards sold 107,039 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $52.30, for a total value of $5,598,139.70. Following the completion of the transaction, the chief executive officer now owns 351,071 shares of the company’s stock, valued at approximately $18,361,013.30. The disclosure for this sale can be found here. Company insiders own 31.10% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its position in shares of Installed Building Products by 55.7% in the 1st quarter. LPL Financial LLC now owns 4,479 shares of the construction company’s stock valued at $269,000 after purchasing an additional 1,602 shares during the period. Scout Investments Inc. boosted its position in shares of Installed Building Products by 2.2% in the 3rd quarter. Scout Investments Inc. now owns 82,410 shares of the construction company’s stock valued at $3,214,000 after purchasing an additional 1,761 shares during the period. Arizona State Retirement System boosted its position in shares of Installed Building Products by 5.8% in the 3rd quarter. Arizona State Retirement System now owns 32,094 shares of the construction company’s stock valued at $1,252,000 after purchasing an additional 1,766 shares during the period. Legal & General Group Plc boosted its position in shares of Installed Building Products by 4.2% in the 2nd quarter. Legal & General Group Plc now owns 45,179 shares of the construction company’s stock valued at $2,585,000 after purchasing an additional 1,813 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Installed Building Products by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 51,220 shares of the construction company’s stock valued at $2,896,000 after purchasing an additional 1,853 shares during the period. Institutional investors and hedge funds own 69.99% of the company’s stock.

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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