Installed Building Products (NYSE:IBP) PT Raised to $55.00

Installed Building Products (NYSE:IBP) had its price target hoisted by Deutsche Bank from $47.00 to $55.00 in a research note issued to investors on Monday, May 6th, The Fly reports. Deutsche Bank currently has a positive rating on the construction company’s stock.

IBP has been the subject of several other research reports. SunTrust Banks cut shares of Installed Building Products from a buy rating to a hold rating in a research note on Tuesday, January 15th. Jefferies Financial Group cut shares of Installed Building Products from a buy rating to a hold rating and dropped their target price for the company from $48.00 to $40.00 in a research report on Wednesday, January 16th. Royal Bank of Canada set a $50.00 price target on shares of Installed Building Products and gave the company a hold rating in a report on Friday, May 3rd. ValuEngine raised shares of Installed Building Products from a sell rating to a hold rating in a report on Monday, April 1st. Finally, Zacks Investment Research lowered shares of Installed Building Products from a hold rating to a sell rating in a report on Thursday, February 21st. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $47.87.

Shares of IBP traded up $0.12 during midday trading on Monday, reaching $52.13. The stock had a trading volume of 102,100 shares, compared to its average volume of 201,896. Installed Building Products has a one year low of $29.24 and a one year high of $65.85. The company has a market cap of $1.59 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. The company has a debt-to-equity ratio of 2.44, a current ratio of 2.24 and a quick ratio of 1.91.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 2nd. The construction company reported $0.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.51. Installed Building Products had a net margin of 4.15% and a return on equity of 41.94%. The company had revenue of $342.14 million during the quarter, compared to analysts’ expectations of $333.87 million. During the same quarter last year, the company posted $0.45 EPS. Installed Building Products’s quarterly revenue was up 13.4% compared to the same quarter last year. Analysts expect that Installed Building Products will post 2.94 earnings per share for the current year.

In other news, Director Michael H. Thomas sold 2,648 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $54.03, for a total value of $143,071.44. Following the completion of the sale, the director now owns 11,102 shares in the company, valued at approximately $599,841.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jay P. Elliott sold 14,500 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $54.57, for a total transaction of $791,265.00. Following the completion of the sale, the chief operating officer now owns 45,529 shares of the company’s stock, valued at approximately $2,484,517.53. The disclosure for this sale can be found here. Insiders have sold a total of 320,648 shares of company stock worth $14,572,038 in the last quarter. 25.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. bought a new position in Installed Building Products during the first quarter valued at about $151,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Installed Building Products by 15.6% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,253 shares of the construction company’s stock worth $303,000 after purchasing an additional 842 shares during the period. Oxford Asset Management LLP bought a new position in Installed Building Products during the first quarter worth about $3,859,000. Ellington Management Group LLC bought a new position in Installed Building Products during the first quarter worth about $456,000. Finally, Hsbc Holdings PLC bought a new position in Installed Building Products during the first quarter worth about $389,000. Institutional investors own 70.21% of the company’s stock.

About Installed Building Products

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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