Installed Building Products Inc. (IBP) Trading Down 2.6%
Installed Building Products Inc. (NYSE:IBP) shares traded down 2.6% during trading on Thursday . The company traded as low as $34.37 and last traded at $34.91, with a volume of 236,331 shares. The stock had previously closed at $35.85.
A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Monday, July 11th. Royal Bank Of Canada raised their price objective 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. Finally, TheStreet upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $33.75.
The firm has a market capitalization of $1.01 billion and a price-to-earnings ratio of 32.47. The stock’s 50-day moving average price is $35.97 and its 200 day moving average price is $28.81.
Installed Building Products (NYSE:IBP) last posted its earnings results on Friday, August 5th. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.03. The business earned $211.90 million during the quarter, compared to analyst estimates of $212.87 million. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 earnings per share. Equities research analysts expect that Installed Building Products Inc. will post $1.49 earnings per share for the current year.
A number of hedge funds and institutional investors recently bought and sold shares of the stock. Westfield Capital Management Co. LP raised its position in Installed Building Products by 9.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,045,467 shares of the company’s stock worth $25,959,000 after buying an additional 86,793 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Installed Building Products by 55.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 315,045 shares of the company’s stock worth $7,822,000 after buying an additional 112,556 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Installed Building Products by 21.9% in the fourth quarter. Principal Financial Group Inc. now owns 702,616 shares of the company’s stock worth $17,446,000 after buying an additional 126,118 shares during the last 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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