Installed Building Products Inc. (IBP) Trading Down 2%
Installed Building Products Inc. (NYSE:IBP)’s share price traded down 2% on Friday . The company traded as low as $35.44 and last traded at $35.98, with a volume of 178,743 shares changing hands. The stock had previously closed at $36.72.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Monday, July 11th. TheStreet upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Royal Bank Of Canada increased their price objective on Installed Building Products from $31.00 to $36.00 and gave the stock an “outperform” rating in a report on Monday, May 9th. Finally, Zelman & Associates downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $33.75.
The company’s 50-day moving average is $35.95 and its 200 day moving average is $28.34. The company has a market cap of $1.12 billion and a P/E ratio of 36.01.
Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.10. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company had revenue of $191.70 million for the quarter, compared to analyst estimates of $174.02 million. Installed Building Products’s quarterly revenue was up 47.6% compared to the same quarter last year. Analysts forecast that Installed Building Products Inc. will post $1.49 EPS for the current year.
Other institutional investors recently bought and sold shares of the company. 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 valued at $7,822,000 after buying an additional 112,556 shares during the last quarter. 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 valued at $17,446,000 after buying an additional 126,118 shares during the last quarter. Finally, 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 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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