Installed Building Products Inc (IBP) is Initiated by Seaport Global Securities to Buy, Price Target at $52

Installed Building Products Inc (IBP) was Initiated by Seaport Global Securities to “Buy” and the brokerage firm has set the Price Target at $52. Seaport Global Securities advised their investors in a research report released on Nov 22, 2016.

Many Wall Street Analysts have commented on Installed Building Products Inc. Company shares were Reiterated by RBC Capital Mkts on Nov 16, 2016 to “Outperform”, Firm has raised the Price Target to $ 45 from a previous price target of $40 .

On the company’s financial health, Installed Building Products Inc reported $0.38 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Nov 3, 2016. Analyst had a consensus of $0.45. The company had revenue of $225.40 million for the quarter, compared to analysts expectations of $233.63 million. The company’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Installed Building Products Inc closed down -0.25 points or -0.61% at $40.6 with 2,71,009 shares getting traded on Monday. Post opening the session at $41.2, the shares hit an intraday low of $40.3 and an intraday high of $41.2 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 15, 2016, Lawrence A. Hilsheimer (director) purchased 4,300 shares at $23.27 per share price. According to the SEC, on Nov 30, 2015, Jeffrey W. Edwards (CEO) purchased 20,000 shares at $24.64 per share price.

Installed Building Products Inc. is a residential insulation installer in the United States. The Company’s national platform consists of over 100 locations accessing customers in all 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. The Company manages various aspects of the installation process for the customers from the direct purchase and receipt of materials from national manufacturers to supply of materials to job sites and quality installation. The Company’s customers include production and custom homebuilders multi-family and commercial contractors and homeowners.

Installed Building Products Inc

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