Installed Building Products Inc. (IBP) Sets New 52-Week High at $37.71
Installed Building Products Inc. (NYSE:IBP) reached a new 52-week high during trading on Friday . The stock traded as high as $37.71 and last traded at $37.57, with a volume of 73,809 shares. The stock had previously closed at $36.52.
Several equities research analysts have recently commented on IBP shares. Royal Bank Of Canada lifted their price objective on shares of Installed Building Products from $26.00 to $31.00 in a research note on Tuesday, April 12th. Zacks Investment Research upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday, May 10th. TheStreet upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. SunTrust Banks Inc. upgraded shares of Installed Building Products from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $25.00 to $30.00 in a research note on Thursday, March 17th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Installed Building Products in a research note on Wednesday, March 16th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $32.80.
The firm has a market capitalization of $1.17 billion and a P/E ratio of 37.68. The stock’s 50-day moving average price is $34.48 and its 200-day moving average price is $26.91.
Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, May 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.10. The business had revenue of $191.70 million for the quarter, compared to analyst estimates of $174.02 million. Installed Building Products’s quarterly revenue was up 47.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. Analysts anticipate that Installed Building Products Inc. will post $1.49 EPS for the current fiscal year.
A hedge fund recently raised its stake in Installed Building Products stock. Dimensional Fund Advisors LP boosted its position in shares of Installed Building Products Inc. (NYSE:IBP) by 55.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 315,045 shares of the company’s stock after buying an additional 112,556 shares during the period. Dimensional Fund Advisors LP owned approximately 1.01% of Installed Building Products worth $7,822,000 as of its most recent filing with the SEC.
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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