A number of other research firms have also weighed in on IBP. Zacks Investment Research lowered Installed Building Products from a buy rating to a hold rating in a research note on Thursday, August 15th. SunTrust Banks upped their price objective on Installed Building Products from $50.00 to $54.00 and gave the stock a hold rating in a research note on Friday, August 9th. Finally, Nomura upped their price objective on Installed Building Products from $50.00 to $52.00 and gave the stock a neutral rating in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $58.18.
NYSE:IBP traded up $0.28 during mid-day trading on Thursday, hitting $69.47. 119,863 shares of the company traded hands, compared to its average volume of 204,184. The stock’s fifty day moving average price is $62.58 and its 200-day moving average price is $56.68. Installed Building Products has a one year low of $30.54 and a one year high of $76.60. The company has a quick ratio of 1.85, a current ratio of 2.69 and a debt-to-equity ratio of 2.52. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 1.49 and a beta of 1.17.
Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Friday, November 1st. The construction company reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.13. Installed Building Products had a return on equity of 45.94% and a net margin of 4.47%. The business had revenue of $396.40 million during the quarter, compared to analyst estimates of $385.46 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. Installed Building Products’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities analysts predict that Installed Building Products will post 3.03 EPS for the current year.
In related news, COO Jay P. Elliott sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.83, for a total value of $1,416,600.00. Following the sale, the chief operating officer now directly owns 23,529 shares in the company, valued at $1,666,559.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vikas Verma sold 10,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $67.00, for a total value of $670,000.00. Following the completion of the sale, the director now owns 81,935 shares in the company, valued at $5,489,645. The disclosure for this sale can be found here. Insiders sold 70,000 shares of company stock worth $4,532,760 over the last quarter. 25.20% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Installed Building Products during the third quarter valued at approximately $42,000. Tower Research Capital LLC TRC raised its holdings in shares of Installed Building Products by 527.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,588 shares of the construction company’s stock worth $94,000 after buying an additional 1,335 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Installed Building Products in the third quarter worth approximately $121,000. Bank of Montreal Can raised its holdings in shares of Installed Building Products by 178.7% in the second quarter. Bank of Montreal Can now owns 2,954 shares of the construction company’s stock worth $175,000 after buying an additional 1,894 shares during the period. Finally, Marshall Wace North America L.P. purchased a new stake in shares of Installed Building Products in the first quarter worth approximately $151,000. Institutional investors and hedge funds own 68.60% 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, window blinds, 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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