Installed Building Products Inc. (IBP) Trading 4.2% Higher
Installed Building Products Inc. (NYSE:IBP) shares traded up 4.2% during trading on Tuesday . The company traded as high as $32.15 and last traded at $32.00, with a volume of 145,358 shares trading hands. The stock had previously closed at $30.72.
A number of analysts have weighed in on the company. Zacks Investment Research cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 11th. Deutsche Bank AG boosted their price target on Installed Building Products from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Royal Bank Of Canada boosted their price target on Installed Building Products from $31.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, May 9th. Finally, TheStreet raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $34.00.
The firm has a 50-day moving average of $34.77 and a 200-day moving average of $29.81. The firm has a market capitalization of $1.00 billion and a price-to-earnings ratio of 29.13.
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 the Thomson Reuters’ consensus estimate of $0.37 by $0.03. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company earned $211.90 million during the quarter, compared to analyst estimates of $212.87 million. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. Equities analysts forecast that Installed Building Products Inc. will post $1.43 earnings per share for the current fiscal year.
Other hedge funds have modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake 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 valued at $1,484,000 after buying an additional 4,279 shares during the last quarter. Principal Financial Group Inc. boosted 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 worth $17,446,000 after buying an additional 126,118 shares during the period. Finally, Westfield Capital Management Co. LP boosted 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 worth $25,959,000 after buying an additional 86,793 shares during the period.
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.