In a report issued on May 8, Mike Wood from Nomura maintained a Hold rating on Installed Building Products (IBP), with a price target of $59.00. The company’s shares closed last Friday at $55.34.
According to TipRanks.com, Wood is a 1-star analyst with an average return of -2.9% and a 40.2% success rate. Wood covers the Industrial Goods sector, focusing on stocks such as Mueller Water Products, Masonite International, and Armstrong Flooring.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Installed Building Products with a $53.50 average price target.
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Based on Installed Building Products’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $401 million and net profit of $19.19 million. In comparison, last year the company earned revenue of $353 million and had a net profit of $16.48 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is neutral 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.
