Installed Building Products (NYSE:IBP) Research Coverage Started at Goldman Sachs Group

Equities researchers at Goldman Sachs Group assumed coverage on shares of Installed Building Products (NYSE:IBP) in a report issued on Friday, The Fly reports. The brokerage set a “neutral” rating on the construction company’s stock.

Several other brokerages have also issued reports on IBP. SunTrust Banks lifted their price objective on shares of Installed Building Products to $71.00 and gave the company a “hold” rating in a report on Monday, November 4th. ValuEngine raised Installed Building Products from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Deutsche Bank initiated coverage on Installed Building Products in a research report on Wednesday, November 27th. They set a “buy” rating and a $82.00 target price on the stock. Nomura lifted their price target on Installed Building Products from $50.00 to $52.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Zacks Investment Research raised Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $81.00 price target for the company in a research report on Thursday, November 7th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $58.33.

NYSE:IBP opened at $71.80 on Friday. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.69 and a quick ratio of 2.39. Installed Building Products has a 1-year low of $30.54 and a 1-year high of $76.60. The company has a 50-day moving average of $69.08 and a 200 day moving average of $59.12. The firm has a market cap of $2.15 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.46 and a beta of 1.16.

Installed Building Products (NYSE:IBP) last posted its earnings results on Friday, November 1st. The construction company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.13. Installed Building Products had a net margin of 4.47% and a return on equity of 45.94%. The business had revenue of $396.40 million for the quarter, compared to the consensus estimate of $385.46 million. During the same quarter last year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Sell-side analysts anticipate that Installed Building Products will post 3.07 EPS for the current fiscal year.

In other Installed Building Products news, Director Vikas Verma sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $62.00, for a total value of $620,000.00. Following the completion of the sale, the director now directly owns 131,935 shares in the company, valued at $8,179,970. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Jay P. Elliott sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.83, for a total transaction of $1,416,600.00. Following the completion of the sale, the chief operating officer now owns 23,529 shares of the company’s stock, valued at $1,666,559.07. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,000 shares of company stock valued at $3,966,600. 25.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Installed Building Products by 2.1% in the 2nd quarter. BlackRock Inc. now owns 3,398,152 shares of the construction company’s stock worth $201,240,000 after purchasing an additional 69,177 shares in the last quarter. Bamco Inc. NY raised its stake in Installed Building Products by 9.1% in the second quarter. Bamco Inc. NY now owns 1,636,712 shares of the construction company’s stock valued at $96,926,000 after buying an additional 136,712 shares during the last quarter. Northern Trust Corp raised its stake in Installed Building Products by 1.8% in the second quarter. Northern Trust Corp now owns 295,882 shares of the construction company’s stock valued at $17,521,000 after buying an additional 5,259 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Installed Building Products by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 264,054 shares of the construction company’s stock worth $15,637,000 after acquiring an additional 5,351 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Installed Building Products by 58.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 192,479 shares of the construction company’s stock worth $11,399,000 after acquiring an additional 71,120 shares in the last quarter. Hedge funds and other institutional investors own 68.27% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, 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.

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Analyst Recommendations for Installed Building Products (NYSE:IBP)

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