RBC Capital analyst Michael Eisen reiterated a Buy rating on Installed Building Products (NYSE: IBP) today and set a price target of $66. The company’s shares closed yesterday at $52.50, close to its 52-week low of $51.30.
According to TipRanks.com, Eisen is a 1-star analyst with an average return of -3.9% and a 24.4% success rate. Eisen covers the Industrial Goods sector, focusing on stocks such as Masonite International, BMC Stock Holdings, and JELD-WEN Inc.
Installed Building Products has an analyst consensus of Moderate Buy, with a price target consensus of $70, implying a 33.3% upside from current levels. In a report issued on July 20, Jefferies also reiterated a Buy rating on the stock with a $74 price target.
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Based on Installed Building Products’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $16.32 million. In comparison, last year the company had a net profit of $11.97 million.
Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.
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Installed Building Products, Inc. engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.
