Installed Building Products Inc. (IBP) Trading 4.2% Higher
Installed Building Products Inc. (NYSE:IBP) shares were up 4.2% during mid-day trading on Tuesday . The company traded as high as $32.15 and last traded at $32.00, with a volume of 145,358 shares changing hands. The stock had previously closed at $30.72.
Several analysts recently issued reports on IBP shares. Zacks Investment Research lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Monday, July 11th. Deutsche Bank AG upped their price objective on shares of Installed Building Products from $34.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, August 12th. Royal Bank Of Canada upped their price objective on shares of Installed Building Products from $31.00 to $36.00 and gave the stock 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Installed Building Products presently has an average rating of “Buy” and an average price target of $34.00.
The company has a market capitalization of $1.01 billion and a PE ratio of 29.18. The company’s 50 day moving average is $34.59 and its 200 day moving average is $29.91.
Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Friday, August 5th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by $0.03. The firm had revenue of $211.90 million for the quarter, compared to analyst estimates of $212.87 million. The business’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.23 EPS. On average, equities analysts forecast that Installed Building Products Inc. will post $1.43 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its position in shares of Installed Building Products by 7.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 59,758 shares of the company’s stock worth $1,484,000 after buying an additional 4,279 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of 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 in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of 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 in 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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