Installed Building Products (NYSE:IBP) Trading 5.3% Higher

Installed Building Products Inc (NYSE:IBP)’s share price traded up 5.3% during trading on Friday . The company traded as high as $55.26 and last traded at $58.11. 3,446 shares were traded during trading, a decline of 98% from the average session volume of 148,594 shares. The stock had previously closed at $55.19.

A number of equities analysts recently commented on the company. Nomura reissued a “neutral” rating and set a $50.00 price target (down from $54.00) on shares of Installed Building Products in a research note on Thursday, May 16th. Zacks Investment Research lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Deutsche Bank raised their price objective on Installed Building Products from $47.00 to $55.00 and gave the company a “positive” rating in a research note on Monday, May 6th. Macquarie raised Installed Building Products from a “neutral” rating to an “outperform” rating and set a $45.65 price objective for the company in a research note on Thursday, March 7th. Finally, ValuEngine raised Installed Building Products from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Installed Building Products currently has an average rating of “Hold” and a consensus target price of $45.96.

The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 1.24 and a beta of 1.20. The firm’s 50 day moving average is $53.99. The company has a quick ratio of 1.91, a current ratio of 2.24 and a debt-to-equity ratio of 2.44.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, May 2nd. The construction company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Installed Building Products had a return on equity of 41.94% and a net margin of 4.15%. The business had revenue of $342.14 million during the quarter, compared to analyst estimates of $333.87 million. During the same period last year, the company earned $0.45 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, research analysts anticipate that Installed Building Products Inc will post 2.98 EPS for the current year.

In other news, COO Jay P. Elliott sold 14,500 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $54.57, for a total value of $791,265.00. Following the sale, the chief operating officer now directly owns 45,529 shares in the company, valued at $2,484,517.53. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael H. Thomas sold 2,648 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was 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 $599,841.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,148 shares of company stock worth $3,074,336. Company insiders own 25.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Quadrant L P CA purchased a new stake in shares of Installed Building Products in the first quarter worth approximately $94,000. NumerixS Investment Technologies Inc increased its holdings in Installed Building Products by 100.0% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,400 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,200 shares during the period. Quantamental Technologies LLC increased its holdings in Installed Building Products by 40.1% during the 1st quarter. Quantamental Technologies LLC now owns 2,794 shares of the construction company’s stock worth $136,000 after purchasing an additional 800 shares during the period. Marshall Wace North America L.P. purchased a new position in Installed Building Products during the 1st quarter worth $151,000. Finally, Budros Ruhlin & Roe Inc. purchased a new position in Installed Building Products during the 1st quarter worth $231,000. Hedge funds and other institutional investors own 70.21% of the company’s stock.

About Installed Building Products (NYSE:IBP)

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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