Installed Building Products, Inc. (NYSE:IBP) had its target price boosted by research analysts at Royal Bank Of Canada from $61.00 to $69.00 in a report issued on Monday. The brokerage presently has an “outperform” rating on the construction company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 17.85% from the stock’s current price.

Several other brokerages have also recently weighed in on IBP. Seaport Global Securities boosted their target price on Installed Building Products from $55.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, May 8th. BidaskClub upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Credit Suisse Group started coverage on Installed Building Products in a report on Thursday, June 22nd. They set an “outperform” rating and a $61.00 target price on the stock. Finally, Zacks Investment Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.40.

Shares of Installed Building Products (NYSE:IBP) opened at 58.55 on Monday. The company’s 50 day moving average price is $52.89 and its 200 day moving average price is $49.41. Installed Building Products has a 52-week low of $30.17 and a 52-week high of $60.00. The stock has a market cap of $1.85 billion, a PE ratio of 47.26 and a beta of 0.81.

Installed Building Products (NYSE:IBP) last issued its earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.21. The business had revenue of $282.20 million for the quarter, compared to analysts’ expectations of $274.63 million. Installed Building Products had a return on equity of 25.27% and a net margin of 4.11%. The business’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. On average, analysts anticipate that Installed Building Products will post $2.23 earnings per share for the current year.

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In related news, Director Margot Lebenberg Carter sold 2,198 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $52.00, for a total value of $114,296.00. Following the transaction, the director now directly owns 8,761 shares in the company, valued at $455,572. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Jay P. Elliott sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $52.90, for a total value of $132,250.00. Following the completion of the transaction, the chief operating officer now owns 53,812 shares in the company, valued at $2,846,654.80. The disclosure for this sale can be found here. Insiders sold 604,785 shares of company stock worth $31,751,766 over the last quarter. 32.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Installed Building Products by 167,701.5% in the first quarter. BlackRock Inc. now owns 2,745,232 shares of the construction company’s stock worth $144,812,000 after buying an additional 2,743,596 shares in the last quarter. Vanguard Group Inc. boosted its position in Installed Building Products by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,009,259 shares of the construction company’s stock worth $53,238,000 after buying an additional 60,832 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Installed Building Products by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 789,371 shares of the construction company’s stock worth $41,639,000 after buying an additional 79,567 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Installed Building Products by 10.2% in the first quarter. Loomis Sayles & Co. L P now owns 450,719 shares of the construction company’s stock worth $23,775,000 after buying an additional 41,670 shares in the last quarter. Finally, Pembroke Management LTD boosted its position in Installed Building Products by 12.6% in the second quarter. Pembroke Management LTD now owns 378,300 shares of the construction company’s stock worth $20,030,000 after buying an additional 42,400 shares in the last quarter. Hedge funds and other institutional investors own 63.68% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 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 provides cross-selling opportunities to supplement the insulation installation business.

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