Installed Building Products Inc. (NYSE:IBP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $46.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 10.84% from the company’s previous close.

According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “

IBP has been the topic of several other reports. Deutsche Bank AG boosted their price target on Installed Building Products from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, August 12th. Seaport Global Securities started coverage on Installed Building Products in a research note on Tuesday, November 22nd. They issued a “buy” rating and a $52.00 price target on the stock. RBC Capital Markets boosted their price target on Installed Building Products from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, November 16th. Finally, Royal Bank Of Canada boosted their price target on Installed Building Products from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, November 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $42.17.

Analyst Recommendations for Installed Building Products (NYSE:IBP)

Installed Building Products (NYSE:IBP) traded down 1.54% during trading on Wednesday, hitting $41.50. 232,706 shares of the company traded hands. Installed Building Products has a 12-month low of $17.60 and a 12-month high of $42.75. The stock has a 50-day moving average price of $36.26 and a 200-day moving average price of $34.98. The firm has a market capitalization of $1.30 billion, a P/E ratio of 35.47 and a beta of 0.61.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, November 3rd. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.07. Installed Building Products had a net margin of 4.47% and a return on equity of 29.06%. The company earned $225.40 million during the quarter, compared to the consensus estimate of $234 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. The business’s revenue was up 24.1% on a year-over-year basis. Equities analysts expect that Installed Building Products will post $1.33 EPS for the current fiscal year.

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In other news, Director J Michael Nixon sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $42.01, for a total transaction of $2,100,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 35.60% of the company’s stock.

Institutional investors have recently modified their holdings of the company. BlackRock Fund Advisors raised its position in shares of Installed Building Products by 11.4% in the third quarter. BlackRock Fund Advisors now owns 1,740,344 shares of the company’s stock worth $62,426,000 after buying an additional 178,415 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Installed Building Products by 9.5% in the second quarter. Vanguard Group Inc. now owns 832,654 shares of the company’s stock worth $30,217,000 after buying an additional 72,239 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Installed Building Products by 2.7% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 715,344 shares of the company’s stock worth $25,659,000 after buying an additional 19,010 shares during the last quarter. Emerald Advisers Inc. PA raised its position in shares of Installed Building Products by 1.1% in the second quarter. Emerald Advisers Inc. PA now owns 603,766 shares of the company’s stock worth $21,911,000 after buying an additional 6,320 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Installed Building Products by 5.1% in the third quarter. Principal Financial Group Inc. now owns 587,340 shares of the company’s stock worth $21,068,000 after buying an additional 28,481 shares during the last quarter. 68.20% of the stock is currently owned by institutional investors.

About Installed Building Products

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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