Installed Building Products Inc (IBP) Receives $66.50 Average Price Target from Analysts
Installed Building Products Inc (NYSE:IBP) has been assigned an average rating of “Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $66.50.
A number of research analysts recently commented on the stock. Jefferies Group assumed coverage on shares of Installed Building Products in a research report on Tuesday, December 12th. They issued a “hold” rating and a $69.00 target price on the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a research report on Friday, November 3rd. KeyCorp reaffirmed a “hold” rating on shares of Installed Building Products in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Finally, Credit Suisse Group set a $73.00 target price on shares of Installed Building Products and gave the company an “outperform” rating in a research report on Tuesday, October 17th.
In other Installed Building Products news, Director Vikas Verma purchased 3,318 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average price of $59.98 per share, for a total transaction of $199,013.64. Following the purchase, the director now directly owns 230,251 shares in the company, valued at $13,810,454.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Michael Nixon sold 50,000 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $73.57, for a total transaction of $3,678,500.00. The disclosure for this sale can be found here. 32.90% of the stock is owned by corporate insiders.
Shares of Installed Building Products (NYSE IBP) traded down $2.30 during trading hours on Monday, hitting $75.30. 98,165 shares of the company’s stock were exchanged, compared to its average volume of 122,267. Installed Building Products has a 52 week low of $40.00 and a 52 week high of $79.40. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.93 and a current ratio of 2.22. The stock has a market cap of $2,400.00, a P/E ratio of 57.48 and a beta of 0.87.
Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Friday, November 3rd. The construction company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.07). The firm had revenue of $295.20 million during the quarter, compared to analysts’ expectations of $292.51 million. Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. research analysts expect that Installed Building Products will post 1.46 earnings per share for the current fiscal year.
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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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