News articles about Installed Building Prods (NYSE:IBP) have trended somewhat positive this week, Accern reports. The research group identifies positive and negative news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Installed Building Prods earned a daily sentiment score of 0.19 on Accern’s scale. Accern also gave press coverage about the construction company an impact score of 45.4297653098302 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news stories that may have effected Accern Sentiment’s scoring:
- Installed Building Prods (IBP) versus Lennar (LEN.B) Critical Review (americanbankingnews.com)
- Installed Building Prods (IBP) Expected to Announce Quarterly Sales of $299.52 Million (americanbankingnews.com)
- Installed Building Prods (IBP) Receives Average Recommendation of “Buy” from Brokerages (americanbankingnews.com)
- Installed Building Products buys fourth company in as many months (finance.yahoo.com)
- Installed Building Products (IBP) Announces Acquisition of H2H Blinds (streetinsider.com)
IBP has been the subject of a number of recent analyst reports. Stephens set a $71.00 price target on shares of Installed Building Prods and gave the stock a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded shares of Installed Building Prods from a “hold” rating to a “strong-buy” rating and set a $83.00 price target for the company in a report on Thursday, February 1st. Zelman & Associates upgraded shares of Installed Building Prods from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Nomura assumed coverage on shares of Installed Building Prods in a report on Tuesday, March 13th. They issued a “buy” rating and a $77.00 target price for the company. Finally, Instinet assumed coverage on shares of Installed Building Prods in a report on Tuesday, March 13th. They issued a “buy” rating and a $77.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $70.70.
Installed Building Prods (NYSE:IBP) last posted its earnings results on Wednesday, February 28th. The construction company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.20). Installed Building Prods had a net margin of 3.63% and a return on equity of 19.75%. The company had revenue of $299.87 million during the quarter, compared to analyst estimates of $302.02 million. During the same quarter last year, the business posted $0.44 EPS. The firm’s revenue for the quarter was up 28.2% on a year-over-year basis. sell-side analysts expect that Installed Building Prods will post 2.16 EPS for the current year.
Installed Building Prods announced that its board has authorized a stock buyback plan on Wednesday, February 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
In other Installed Building Prods news, Director J Michael Nixon sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $74.50, for a total value of $1,490,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jay P. Elliott sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $73.50, for a total transaction of $220,500.00. Following the completion of the transaction, the chief operating officer now directly owns 48,312 shares of the company’s stock, valued at approximately $3,550,932. The disclosure for this sale can be found here. Company insiders own 32.90% of the company’s stock.
About Installed Building Prods
Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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