Press coverage about Installed Building Products (NYSE:IBP) has been trending positive recently, according to Accern. The research group ranks the sentiment of media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Installed Building Products earned a news impact score of 0.31 on Accern’s scale. Accern also gave media stories about the construction company an impact score of 50 out of 100, indicating that recent media coverage is somewhat likely to have an effect on the company’s share price in the next few days.
Installed Building Products (NYSE IBP) opened at 52.90 on Friday. Installed Building Products has a one year low of $30.16 and a one year high of $55.45. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 42.70 and a beta of 0.82. The company has a 50-day moving average of $52.67 and a 200-day moving average of $48.98.
Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Friday, May 5th. The construction company reported $0.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.03. The firm had revenue of $255.70 million for the quarter, compared to the consensus estimate of $236.19 million. Installed Building Products had a net margin of 4.21% and a return on equity of 26.42%. The company’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. On average, equities analysts forecast that Installed Building Products will post $2.24 EPS for the current fiscal year.
Several analysts have weighed in on the company. BidaskClub cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Royal Bank Of Canada boosted their price target on Installed Building Products from $53.00 to $61.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Seaport Global Securities boosted their price target on Installed Building Products from $55.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, May 8th. Finally, Credit Suisse Group initiated coverage on Installed Building Products in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $61.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $52.80.
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In other Installed Building Products news, Director Margot Lebenberg Carter sold 2,198 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $52.00, for a total value of $114,296.00. Following the completion of the sale, the director now directly owns 8,761 shares in the company, valued at $455,572. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey W. Edwards sold 600,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $52.50, for a total transaction of $31,500,000.00. Following the completion of the sale, the chief executive officer now owns 504,800 shares of the company’s stock, valued at $26,502,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 604,698 shares of company stock valued at $31,746,546. 32.90% of the stock is owned by insiders.
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.
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