Installed Building Products Received its Third Buy in a Row

By Ryan Adsit

After Seaport Global and Stephens assigned a Buy rating to Installed Building Products in the last month, the company received another Buy, this time from RBC Capital. Analyst Michael Eisen reiterated a Buy rating on Installed Building Products (NYSE: IBP) yesterday and set a price target of $71. The company’s shares closed yesterday at $55.55.

According to TipRanks.com, Eisen is a 1-star analyst with an average return of -6.3% and a 7.7% success rate. Eisen covers the Industrial Goods sector, focusing on stocks such as BMC Stock Holdings, JELD-WEN Inc, and Masco Corp.

Currently, the analyst consensus on Installed Building Products is Strong Buy and the average price target is $75.20, representing a 35.4% upside.

In a report released yesterday, Seaport Global also reiterated a Buy rating on the stock with a $80 price target.

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 $234 million and had a net profit of $11.08 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is negative on the stock.

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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.