Installed Building Products Inc. (IBP) Sees Unusually-High Trading Volume
Installed Building Products Inc. (NYSE:IBP) saw strong trading volume on Friday . 461,699 shares changed hands during mid-day 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.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 11th. TheStreet upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Finally, Royal Bank Of Canada raised their price target on Installed Building Products from $31.00 to $36.00 and gave the company an “outperform” rating in a research report on Monday, May 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $33.75.
The stock’s 50-day moving average price is $35.97 and its 200 day moving average price is $28.81. The company has a market cap of $1.01 billion and a PE ratio of 32.47.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $211.90 million for the quarter, compared to analysts’ expectations of $212.87 million. During the same period last year, the firm posted $0.23 earnings per share. Installed Building Products’s revenue for the quarter was up 32.7% on a year-over-year basis. Equities analysts anticipate that Installed Building Products Inc. will post $1.49 EPS for the current fiscal year.
Other large investors have modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Installed Building Products by 55.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 315,045 shares of the company’s stock worth $7,822,000 after buying an additional 112,556 shares during the last quarter. Principal Financial Group Inc. increased its stake 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 during the last quarter. Finally, Westfield Capital Management Co. LP increased its stake 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.