Installed Building Prods (IBP) Receives Average Rating of “Buy” from Brokerages

Shares of Installed Building Prods (NYSE:IBP) have been given a consensus rating of “Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $70.89.

A number of equities analysts have recently commented on IBP shares. Zelman & Associates lowered shares of Installed Building Prods from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Credit Suisse Group restated an “outperform” rating and issued a $85.00 price objective (up from $73.00) on shares of Installed Building Prods in a research report on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Installed Building Prods from a “hold” rating to a “strong-buy” rating and set a $83.00 price objective for the company in a research report on Thursday, February 1st. Stephens set a $71.00 price objective on shares of Installed Building Prods and gave the company a “buy” rating in a research report on Thursday, March 1st. Finally, ValuEngine lowered shares of Installed Building Prods from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st.

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Shares of IBP traded up $1.10 during trading hours on Wednesday, hitting $53.15. The company’s stock had a trading volume of 128,488 shares, compared to its average volume of 280,498. The company has a market capitalization of $1,658.42, a price-to-earnings ratio of 43.74, a PEG ratio of 0.80 and a beta of 0.91. The company has a quick ratio of 1.92, a current ratio of 2.22 and a debt-to-equity ratio of 1.60. Installed Building Prods has a 52-week low of $46.65 and a 52-week high of $79.40.

Installed Building Prods (NYSE:IBP) last posted its 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). Installed Building Prods had a return on equity of 19.75% and a net margin of 3.63%. The business had revenue of $299.87 million during the quarter, compared to analysts’ expectations of $302.02 million. During the same quarter in the previous year, the business earned $0.44 EPS. Installed Building Prods’s revenue for the quarter was up 28.2% on a year-over-year basis. sell-side analysts expect that Installed Building Prods will post 2.16 earnings per share for the current fiscal year.

Installed Building Prods announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 28th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director J Michael Nixon sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $74.50, for a total value of $1,490,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jay P. Elliott sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $73.50, for a total transaction of $220,500.00. Following the completion of the sale, the chief operating officer now owns 48,312 shares of the company’s stock, valued at $3,550,932. The disclosure for this sale can be found here. Insiders own 32.90% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Installed Building Prods by 32.9% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock worth $207,000 after acquiring an additional 793 shares during the last quarter. Campbell Newman Asset Management Inc. lifted its holdings in shares of Installed Building Prods by 22.7% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 4,445 shares of the construction company’s stock worth $338,000 after acquiring an additional 821 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Installed Building Prods by 2.7% in the 4th quarter. Swiss National Bank now owns 38,033 shares of the construction company’s stock worth $2,889,000 after acquiring an additional 1,000 shares during the last quarter. American International Group Inc. lifted its holdings in shares of Installed Building Prods by 6.6% in the 3rd quarter. American International Group Inc. now owns 17,021 shares of the construction company’s stock worth $1,103,000 after acquiring an additional 1,056 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Installed Building Prods by 8.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 14,316 shares of the construction company’s stock worth $1,087,000 after acquiring an additional 1,114 shares during the last quarter. Hedge funds and other institutional investors own 68.26% of the company’s stock.

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About Installed Building Prods

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

Analyst Recommendations for Installed Building Prods (NYSE:IBP)

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