Installed Building Products Inc. (IBP) Hits New 1-Year High at $38.97
Installed Building Products Inc. (NYSE:IBP)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $38.97 and last traded at $37.71, with a volume of 128,544 shares traded. The stock had previously closed at $36.86.
A number of brokerages recently issued reports on IBP. Zacks Investment Research cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Monday, July 11th. Royal Bank Of Canada lifted their target price on Installed Building Products from $31.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, May 9th. TheStreet upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Finally, Zelman & Associates cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $32.80.
The firm has a market cap of $1.19 billion and a price-to-earnings ratio of 38.06. The firm’s 50-day moving average price is $35.18 and its 200 day moving average price is $27.35.
Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.21 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 the consensus estimate of $174.02 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue was up 47.6% on a year-over-year basis. Analysts expect 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. Principal Financial Group Inc. boosted its stake in Installed Building Products Inc. (NYSE:IBP) by 21.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 702,616 shares of the company’s stock after buying an additional 126,118 shares during the period. Principal Financial Group Inc. owned approximately 2.25% of Installed Building Products worth $17,446,000 at the end of the most recent quarter.
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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