Installed Building Products Got Some Good News

By Jason Carr

Jefferies analyst Philip Ng upgraded Installed Building Products (NYSE: IBP) to Buy today and set a price target of $69. The company’s shares closed on Friday at $55.25.

According to TipRanks.com, Ng is ranked #106 out of 4783 analysts.

Installed Building Products has an analyst consensus of Strong Buy, with a price target consensus of $73.60.

Based on Installed Building Products’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $300 million and quarterly net profit of $10.79 million. In comparison, last year the company earned revenue of $256 million and had a net profit of $6.36 million.

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Installed Building Products, Inc. operates as a insulation installer for the residential new construction market and installer of complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.