Somewhat Positive News Coverage Somewhat Unlikely to Impact Installed Building Products (IBP) Stock Price
Media stories about Installed Building Products (NYSE:IBP) have been trending somewhat positive on Monday, Accern Sentiment reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Installed Building Products earned a news impact score of 0.12 on Accern’s scale. Accern also assigned headlines about the construction company an impact score of 47.2553912537453 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the headlines that may have impacted Accern Sentiment’s rankings:
- ValuEngine Lowers Installed Building Products (IBP) to Sell (americanbankingnews.com)
- Columbus-based Installed Building Products became a billion-dollar business in 2017 (finance.yahoo.com)
- Installed Building Products (IBP) Given a $71.00 Price Target by Royal Bank of Canada Analysts (americanbankingnews.com)
- Installed Building Products (IBP) Given a $71.00 Price Target by Stephens Analysts (americanbankingnews.com)
- EAM Investors LLC Has $2.43 Million Position in Installed Building Products Inc (IBP) (americanbankingnews.com)
Installed Building Products (NYSE:IBP) opened at $57.85 on Monday. The company has a market capitalization of $1,843.22, a PE ratio of 44.50 and a beta of 0.91. The company has a quick ratio of 1.93, a current ratio of 2.22 and a debt-to-equity ratio of 1.60. Installed Building Products has a twelve month low of $46.65 and a twelve month high of $79.40.
Installed Building Products declared that its board has approved a stock buyback program on Wednesday, February 28th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Several brokerages have issued reports on IBP. Stephens set a $71.00 price target on Installed Building Products and gave the stock a “buy” rating in a research note on Thursday. ValuEngine lowered Installed Building Products from a “hold” rating to a “sell” rating in a research note on Thursday. Royal Bank of Canada set a $71.00 price target on Installed Building Products and gave the stock a “buy” rating in a research note on Thursday. Credit Suisse Group reaffirmed an “outperform” rating and set a $85.00 price target (up previously from $73.00) on shares of Installed Building Products in a research note on Monday, January 22nd. They noted that the move was a valuation call. Finally, Zelman & Associates raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $70.88.
In other news, Director J Michael Nixon sold 20,000 shares of Installed Building Products stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $74.50, for a total value of $1,490,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jay P. Elliott sold 3,000 shares of Installed Building Products stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $73.50, for a total value of $220,500.00. Following the completion of the transaction, the chief operating officer now owns 48,312 shares in the company, valued at approximately $3,550,932. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,000 shares of company stock worth $5,389,000. Company insiders own 32.90% of the company’s stock.
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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.
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