Installed Building Products Inc. (NYSE:IBP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “
Separately, Deutsche Bank AG increased their price objective on shares of Installed Building Products from $34.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $34.25.
Installed Building Products (NYSE:IBP) opened at 34.70 on Wednesday. The company’s 50-day moving average price is $35.14 and its 200-day moving average price is $32.92. The company has a market cap of $1.09 billion, a PE ratio of 31.55 and a beta of 0.53. Installed Building Products has a 12-month low of $17.60 and a 12-month high of $38.97.
Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Friday, August 5th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.03. The company had revenue of $211.90 million for the quarter, compared to the consensus estimate of $212.87 million. Installed Building Products had a return on equity of 29.31% and a net margin of 4.45%. Installed Building Products’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. Equities analysts anticipate that Installed Building Products will post $1.43 earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Mason Street Advisors LLC acquired a new stake in Installed Building Products during the second quarter worth $118,000. Creative Planning raised its stake in Installed Building Products by 2,432.6% in the second quarter. Creative Planning now owns 4,432 shares of the company’s stock worth $161,000 after buying an additional 4,257 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Installed Building Products by 102.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,398 shares of the company’s stock worth $196,000 after buying an additional 2,726 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Installed Building Products during the second quarter worth $216,000. Finally, Trexquant Investment LP acquired a new stake in Installed Building Products during the second quarter worth $225,000. Institutional investors own 62.11% 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. The Company’s national platform consists of over 100 locations accessing customers in approximately 50 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 provide cross-selling opportunities to supplement the insulation installation business.