Zacks Investment Research upgraded shares of Installed Building Products Inc. (NYSE:IBP) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $46.00 price objective on the stock.

According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “

A number of other research analysts have also recently commented on IBP. Deutsche Bank AG upped their price objective on Installed Building Products from $34.00 to $35.00 and gave the company a buy rating in a report on Friday, August 12th. Royal Bank Of Canada upped their price objective on Installed Building Products from $40.00 to $45.00 and gave the company an outperform rating in a report on Wednesday, November 16th. RBC Capital Markets upped their price objective on Installed Building Products from $40.00 to $45.00 and gave the company an outperform rating in a report on Wednesday, November 16th. Finally, Seaport Global Securities assumed coverage on Installed Building Products in a report on Tuesday, November 22nd. They issued a buy rating and a $52.00 price objective on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $42.17.

Shares of Installed Building Products (NYSE:IBP) opened at 41.50 on Wednesday. The company has a market cap of $1.30 billion, a PE ratio of 35.47 and a beta of 0.61. Installed Building Products has a 12 month low of $17.60 and a 12 month high of $42.75. The firm’s 50-day moving average price is $36.10 and its 200 day moving average price is $34.90.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by $0.07. Installed Building Products had a net margin of 4.47% and a return on equity of 29.06%. The business earned $225.40 million during the quarter, compared to analyst estimates of $234 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s revenue was up 24.1% on a year-over-year basis. Equities research analysts anticipate that Installed Building Products will post $1.33 earnings per share for the current fiscal year.

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In other news, Director J Michael Nixon sold 50,000 shares of the company’s stock in a transaction on Friday, November 25th. The stock was sold at an average price of $42.01, for a total transaction of $2,100,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 35.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Group LTD raised its stake in Installed Building Products by 15.6% in the first quarter. BlackRock Group LTD now owns 33,144 shares of the company’s stock worth $882,000 after buying an additional 4,469 shares in the last quarter. Barclays PLC raised its stake in Installed Building Products by 164,672.7% in the first quarter. Barclays PLC now owns 18,125 shares of the company’s stock worth $471,000 after buying an additional 18,114 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Installed Building Products by 102.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,398 shares of the company’s stock worth $196,000 after buying an additional 2,726 shares in the last quarter. Creative Planning raised its stake in Installed Building Products by 2,432.6% in the second quarter. Creative Planning now owns 4,432 shares of the company’s stock worth $161,000 after buying an additional 4,257 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in Installed Building Products by 27.1% in the second quarter. Capstone Asset Management Co. now owns 12,530 shares of the company’s stock worth $455,000 after buying an additional 2,670 shares in the last quarter. 68.20% of the stock is currently 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. The Company’s national platform consists of over 100 locations accessing customers in approximately 50 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 provide cross-selling opportunities to supplement the insulation installation business.

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