Installed Building Products Inc. (IBP) Reaches New 1-Year High at $37.71
Installed Building Products Inc. (NYSE:IBP)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $37.71 and last traded at $37.57, with a volume of 73,809 shares trading hands. The stock had previously closed at $36.52.
Several brokerages have recently issued reports on IBP. Zacks Investment Research lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. Royal Bank Of Canada boosted their price target on shares of Installed Building Products from $31.00 to $36.00 and gave the company an “outperform” rating in a report on Monday, May 9th. TheStreet raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. SunTrust Banks Inc. raised shares of Installed Building Products from a “neutral” rating to a “buy” rating and upped their target price for the stock from $25.00 to $30.00 in a research note on Thursday, March 17th. Finally, Zelman & Associates lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, April 5th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Installed Building Products presently has a consensus rating of “Buy” and a consensus target price of $32.80.
The firm has a market cap of $1.17 billion and a PE ratio of 37.71. The company has a 50 day moving average of $34.30 and a 200 day moving average of $26.80.
Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. During the same quarter in the previous year, the business posted $0.05 earnings per share. The company earned $191.70 million during the quarter, compared to analyst estimates of $174.02 million. The company’s revenue for the quarter was up 47.6% compared to the same quarter last year. Equities analysts anticipate that Installed Building Products Inc. will post $1.49 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Installed Building Products stock. Dimensional Fund Advisors LP raised its position in shares of Installed Building Products Inc. (NYSE:IBP) by 55.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 315,045 shares of the company’s stock after buying an additional 112,556 shares during the period. Dimensional Fund Advisors LP owned 1.01% of Installed Building Products worth $7,822,000 at the end of the most recent reporting period.
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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