Media headlines about Installed Building Products (NYSE:IBP) have been trending somewhat positive recently, according to Accern Sentiment. The research firm identifies negative and positive media coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Installed Building Products earned a news sentiment score of 0.13 on Accern’s scale. Accern also gave media stories about the construction company an impact score of 46.1381987885833 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Here are some of the media stories that may have effected Accern Sentiment Analysis’s analysis:
- Zacks: Analysts Anticipate Installed Building Products Inc (IBP) Will Announce Earnings of $0.46 Per Share (americanbankingnews.com)
- Fast-growing Columbus building supplier acquires $15M North Carolina chain (finance.yahoo.com)
- Installed Building Products (IBP) Announces Acquisition of Custom Overhead Door (streetinsider.com)
- Installed Building Products Announces the Acquisition of Custom Overhead Door, LLC (finance.yahoo.com)
- Installed Building Products (IBP) Stock Rating Lowered by Zacks Investment Research (americanbankingnews.com)
IBP has been the topic of a number of recent research reports. ValuEngine raised Installed Building Products from a “sell” rating to a “hold” rating in a research report on Saturday, March 10th. Nomura initiated coverage on Installed Building Products in a research report on Tuesday, March 13th. They set a “buy” rating and a $77.00 price objective on the stock. Instinet initiated coverage on Installed Building Products in a research report on Tuesday, March 13th. They set a “buy” rating and a $77.00 price objective on the stock. Zelman & Associates downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Finally, Zacks Investment Research raised Installed Building Products from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Wednesday, March 14th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $70.70.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.20). The business had revenue of $299.87 million during the quarter, compared to analyst estimates of $302.02 million. Installed Building Products had a return on equity of 19.75% and a net margin of 3.63%. Installed Building Products’s revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 EPS. sell-side analysts forecast that Installed Building Products will post 2.13 EPS for the current year.
Installed Building Products announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 28th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Installed Building Products news, Director J Michael Nixon sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $74.50, for a total value of $1,490,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jay P. Elliott sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $73.50, for a total value of $220,500.00. Following the completion of the sale, the chief operating officer now directly owns 48,312 shares of the company’s stock, valued at approximately $3,550,932. The disclosure for this sale can be found here. 32.90% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION WARNING: “Somewhat Positive News Coverage Somewhat Unlikely to Affect Installed Building Products (IBP) Stock Price” was originally posted by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3298573/somewhat-positive-news-coverage-somewhat-unlikely-to-affect-installed-building-products-ibp-stock-price.html.
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.
Receive News & Ratings for Installed Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products and related companies with MarketBeat.com's FREE daily email newsletter.