Insider Buying: Installed Building Products, Inc. (IBP) Director Purchases $199,013.64 in Stock

Installed Building Products, Inc. (NYSE:IBP) Director Vikas Verma bought 3,318 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were bought at an average price of $59.98 per share, for a total transaction of $199,013.64. Following the completion of the acquisition, the director now owns 230,251 shares in the company, valued at approximately $13,810,454.98. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of Installed Building Products, Inc. (NYSE IBP) traded up $0.35 during midday trading on Thursday, reaching $67.65. The company’s stock had a trading volume of 340,100 shares, compared to its average volume of 150,740. Installed Building Products, Inc. has a 12-month low of $39.05 and a 12-month high of $70.25. The company has a current ratio of 2.22, a quick ratio of 1.93 and a debt-to-equity ratio of 1.70. The firm has a market cap of $2,144.35, a price-to-earnings ratio of 51.37 and a beta of 0.84.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Friday, November 3rd. The construction company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The business had revenue of $295.20 million for the quarter, compared to analyst estimates of $292.51 million. During the same quarter last year, the business earned $0.38 EPS. Installed Building Products’s revenue for the quarter was up 31.0% compared to the same quarter last year. equities analysts anticipate that Installed Building Products, Inc. will post 1.46 EPS for the current year.

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IBP has been the topic of several analyst reports. BidaskClub downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Wednesday, July 19th. Royal Bank Of Canada raised their target price on Installed Building Products from $61.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Zacks Investment Research downgraded Installed Building Products from a “hold” rating to a “strong sell” rating in a report on Thursday, August 10th. Deutsche Bank AG raised their price objective on Installed Building Products from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, August 21st. Finally, KeyCorp restated a “hold” rating on shares of Installed Building Products in a research note on Tuesday, September 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Installed Building Products has an average rating of “Buy” and an average target price of $67.17.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California Public Employees Retirement System grew its stake in Installed Building Products by 77.2% during the 3rd quarter. California Public Employees Retirement System now owns 26,223 shares of the construction company’s stock valued at $1,699,000 after purchasing an additional 11,423 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in Installed Building Products by 32.9% during the 3rd 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. Cubist Systematic Strategies LLC grew its position in shares of Installed Building Products by 26.1% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 5,758 shares of the construction company’s stock worth $373,000 after acquiring an additional 1,193 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its position in shares of Installed Building Products by 85.8% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 65,430 shares of the construction company’s stock worth $4,240,000 after acquiring an additional 30,215 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Installed Building Products by 64.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 4,873 shares of the construction company’s stock worth $316,000 after acquiring an additional 1,915 shares in the last quarter. Hedge funds and other institutional investors own 65.41% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Installed Building Products (NYSE:IBP)

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