Installed Building Products Inc. (IBP) Sees Strong Trading Volume
Installed Building Products Inc. (NYSE:IBP) saw an uptick in trading volume on Friday . 461,699 shares were traded during trading, an increase of 79% from the previous session’s volume of 257,271 shares.The stock last traded at $31.96 and had previously closed at $34.47.
Several research firms have commented on IBP. Zacks Investment Research downgraded 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 upped 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 raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $33.75.
The stock has a 50 day moving average price of $35.97 and a 200 day moving average price of $28.81. The stock has a market cap of $1.02 billion and a PE ratio of 29.37.
Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Friday, August 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by $0.03. The company earned $211.90 million during the quarter, compared to the consensus estimate of $212.87 million. During the same period last year, the firm earned $0.23 EPS. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. On average, analysts predict that Installed Building Products Inc. will post $1.49 EPS for the current year.
A number of large investors have added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake 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 valued at $17,446,000 after buying an additional 126,118 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 valued at $7,822,000 after buying an additional 112,556 shares during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake 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 valued at $25,959,000 after buying an additional 86,793 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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