Stephens analyst Trey Grooms reiterated a Buy rating on Installed Building Products (NYSE: IBP) yesterday and set a price target of $65. The company’s shares closed yesterday at $53.60, close to its 52-week low of $50.20.
According to TipRanks.com, Grooms is a 2-star analyst with an average return of 1.9% and a 47.3% success rate. Grooms covers the Industrial Goods sector, focusing on stocks such as Continental Building Products, Builders Firstsource, and BMC Stock Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Installed Building Products with a $66.20 average price target, implying a 23.5% upside from current levels. In a report issued on August 3, RBC Capital also reiterated a Buy rating on the stock with a $66 price target.
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Installed Building Products’ market cap is currently $1.69B and has a P/E ratio of 37.22. The company has a Price to Book ratio of 7.88.
Based on the recent corporate insider activity of 38 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.
