Installed Building Products, Inc. (NYSE:IBP) received a $73.00 target price from analysts at Credit Suisse Group in a note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the construction company’s stock. Credit Suisse Group’s price target suggests a potential upside of 11.96% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on IBP. Zacks Investment Research cut shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a report on Thursday, August 10th. Royal Bank Of Canada restated a “buy” rating and set a $69.00 price target on shares of Installed Building Products in a report on Monday. BidaskClub upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. KeyCorp restated a “hold” rating on shares of Installed Building Products in a report on Tuesday, September 26th. Finally, Deutsche Bank AG upped their price target on shares of Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a report on Monday, August 21st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $67.60.

Shares of Installed Building Products (IBP) traded up 1.38% during mid-day trading on Tuesday, hitting $66.10. The stock had a trading volume of 76,254 shares. The firm’s 50 day moving average price is $60.62 and its 200-day moving average price is $54.58. The company has a market cap of $2.09 billion, a PE ratio of 50.77 and a beta of 0.83. Installed Building Products has a one year low of $30.75 and a one year high of $67.15.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Friday, August 4th. The construction company reported $0.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.21. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. The company had revenue of $282.20 million during the quarter, compared to analysts’ expectations of $274.63 million. During the same period in the prior year, the company earned $0.34 earnings per share. The business’s quarterly revenue was up 33.2% compared to the same quarter last year. On average, equities research analysts anticipate that Installed Building Products will post $2.24 earnings per share for the current fiscal year.

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In other news, CFO Michael Thomas Miller sold 7,430 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $60.00, for a total transaction of $445,800.00. Following the completion of the transaction, the chief financial officer now owns 32,086 shares of the company’s stock, valued at $1,925,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jay P. Elliott sold 2,500 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $64.61, for a total transaction of $161,525.00. Following the transaction, the chief operating officer now directly owns 51,312 shares of the company’s stock, valued at approximately $3,315,268.32. The disclosure for this sale can be found here. Insiders have sold 168,546 shares of company stock valued at $10,371,796 in the last ninety days. 32.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Installed Building Products by 3.1% during the second quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock valued at $149,836,000 after buying an additional 84,555 shares during the last quarter. Wasatch Advisors Inc. raised its position in shares of Installed Building Products by 3.9% during the second quarter. Wasatch Advisors Inc. now owns 1,104,994 shares of the construction company’s stock valued at $58,509,000 after buying an additional 41,236 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Installed Building Products by 3.7% during the second quarter. Vanguard Group Inc. now owns 1,046,278 shares of the construction company’s stock valued at $55,400,000 after buying an additional 37,019 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Installed Building Products by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 809,581 shares of the construction company’s stock valued at $42,867,000 after buying an additional 20,210 shares during the last quarter. Finally, State Street Corp raised its position in shares of Installed Building Products by 7.2% during the second quarter. State Street Corp now owns 584,897 shares of the construction company’s stock valued at $30,963,000 after buying an additional 39,302 shares during the last quarter. 65.60% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Installed Building Products (NYSE:IBP)

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