ValuEngine upgraded shares of Installed Building Products (NYSE:IBP) from a sell rating to a hold rating in a report released on Saturday, March 10th.
A number of other research analysts have also recently commented on IBP. Credit Suisse Group restated an outperform rating and issued a $85.00 price target (up previously from $73.00) on shares of Installed Building Products in a research report on Monday, January 22nd. They noted that the move was a valuation call. Stephens set a $71.00 price target on Installed Building Products and gave the stock a buy rating in a research report on Thursday, March 1st. Royal Bank of Canada set a $71.00 price target on Installed Building Products and gave the stock a buy rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded Installed Building Products from a hold rating to a strong-buy rating and set a $83.00 price target on the stock in a research report on Thursday, February 1st. Finally, Jefferies Group began coverage on Installed Building Products in a research report on Tuesday, December 12th. They issued a hold rating and a $69.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $70.70.
Installed Building Products stock opened at $61.35 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.92 and a debt-to-equity ratio of 1.60. The firm has a market capitalization of $1,954.74, a price-to-earnings ratio of 47.19, a price-to-earnings-growth ratio of 0.96 and a beta of 0.91. Installed Building Products has a 12-month low of $46.65 and a 12-month high of $79.40.
Installed Building Products announced that its board has authorized a stock repurchase plan on Wednesday, February 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, COO Jay P. Elliott sold 3,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $73.50, for a total value of $220,500.00. Following the sale, the chief operating officer now directly owns 48,312 shares of the company’s stock, valued at $3,550,932. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Michael Nixon sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $74.50, for a total value of $1,490,000.00. The disclosure for this sale can be found here. Company insiders own 32.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. boosted its stake in shares of Installed Building Products by 11.7% during the second quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock valued at $100,000 after purchasing an additional 198 shares in the last quarter. Crow Point Partners LLC acquired a new stake in shares of Installed Building Products during the fourth quarter valued at about $128,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Installed Building Products by 32.9% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock valued at $207,000 after purchasing an additional 793 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Installed Building Products during the fourth quarter valued at about $219,000. Finally, Morse Asset Management Inc acquired a new stake in shares of Installed Building Products during the fourth quarter valued at about $228,000. 68.24% of the stock is currently owned by institutional investors and hedge funds.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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