Installed Building Products, Inc. (IBP) Receives Buy Rating from Royal Bank Of Canada

Royal Bank Of Canada reiterated their buy rating on shares of Installed Building Products, Inc. (NYSE:IBP) in a research note published on Monday morning. The brokerage currently has a $61.00 price target on the construction company’s stock.

IBP has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Installed Building Products from a hold rating to a strong sell rating in a report on Thursday, May 11th. BidaskClub raised shares of Installed Building Products from a hold rating to a buy rating in a report on Tuesday, June 13th. Finally, Seaport Global Securities boosted their price target on shares of Installed Building Products from $55.00 to $61.00 and gave the stock a buy rating in a report on Monday, May 8th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $50.75.

Shares of Installed Building Products (IBP) traded up 0.19% during trading on Monday, hitting $53.75. 10,346 shares of the stock traded hands. The stock has a 50 day moving average price of $50.50 and a 200-day moving average price of $46.93. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 43.38 and a beta of 0.82. Installed Building Products has a 1-year low of $30.16 and a 1-year high of $55.45.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Friday, May 5th. The construction company reported $0.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.03. The firm had revenue of $255.70 million for the quarter, compared to the consensus estimate of $236.19 million. Installed Building Products had a net margin of 4.21% and a return on equity of 26.42%. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 EPS. Equities analysts forecast that Installed Building Products will post $2.23 EPS for the current year.

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In related news, CEO Jeffrey W. Edwards sold 600,000 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $52.50, for a total value of $31,500,000.00. Following the transaction, the chief executive officer now directly owns 504,800 shares of the company’s stock, valued at approximately $26,502,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Jay P. Elliott sold 2,735 shares of the business’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $52.50, for a total transaction of $143,587.50. Following the completion of the transaction, the chief operating officer now directly owns 54,336 shares in the company, valued at $2,852,640. The disclosure for this sale can be found here. Insiders sold a total of 609,698 shares of company stock worth $32,010,429 over the last three months. 32.90% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in IBP. State of Alaska Department of Revenue increased its stake in Installed Building Products by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 2,210 shares of the construction company’s stock valued at $116,000 after buying an additional 60 shares during the period. Louisiana State Employees Retirement System increased its stake in Installed Building Products by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 8,200 shares of the construction company’s stock valued at $433,000 after buying an additional 200 shares during the period. Campbell Newman Asset Management Inc. increased its stake in Installed Building Products by 13.8% in the first quarter. Campbell Newman Asset Management Inc. now owns 6,075 shares of the construction company’s stock valued at $320,000 after buying an additional 735 shares during the period. Teachers Advisors LLC increased its stake in Installed Building Products by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 36,693 shares of the construction company’s stock valued at $1,515,000 after buying an additional 1,707 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Installed Building Products by 4.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 10,640 shares of the construction company’s stock valued at $439,000 after buying an additional 500 shares during the period. 64.52% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “IBP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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