Brokerages Set Installed Building Products Inc. (NYSE:IBP) Price Target at $33.67
Installed Building Products Inc. (NYSE:IBP) has been assigned an average recommendation of “Buy” from the six research firms that are presently covering the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $33.67.
IBP has been the topic of several recent research reports. Zacks Investment Research lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 11th. Deutsche Bank AG raised their target price on shares of Installed Building Products from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 12th.
Shares of Installed Building Products (NYSE:IBP) opened at 35.88 on Wednesday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 32.62 and a beta of 0.53. The stock’s 50 day moving average is $34.66 and its 200-day moving average is $32.67. Installed Building Products has a 12-month low of $17.60 and a 12-month high of $38.97.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by $0.03. Installed Building Products had a return on equity of 29.31% and a net margin of 4.45%. The company had revenue of $211.90 million for the quarter, compared to the consensus estimate of $212.87 million. During the same period in the prior year, the company earned $0.23 EPS. The firm’s revenue was up 32.7% compared to the same quarter last year. On average, analysts anticipate that Installed Building Products will post $1.43 EPS for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund increased its stake in shares of Installed Building Products by 11.0% in the first quarter. Texas Permanent School Fund now owns 13,299 shares of the company’s stock worth $354,000 after buying an additional 1,314 shares in the last quarter. Virginia Retirement System purchased a new stake in shares of Installed Building Products during the first quarter worth $1,128,000. Prudential Financial Inc. increased its stake in shares of Installed Building Products by 2.6% in the first quarter. Prudential Financial Inc. now owns 39,800 shares of the company’s stock worth $1,059,000 after buying an additional 1,000 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Installed Building Products by 15.6% in the first quarter. BlackRock Group LTD now owns 33,144 shares of the company’s stock valued at $882,000 after buying an additional 4,469 shares during the period. Finally, Zebra Capital Management LLC increased its stake in shares of Installed Building Products by 22.1% in the first quarter. Zebra Capital Management LLC now owns 14,175 shares of the company’s stock valued at $377,000 after buying an additional 2,567 shares during the period. Institutional investors and hedge funds own 62.11% of the company’s stock.
Installed Building Products Company Profile
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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