Installed Building Products (NYSE:IBP) PT Lowered to $260.00

Installed Building Products (NYSE:IBP) had its target price dropped by equities researchers at The Goldman Sachs Group from $300.00 to $260.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 26.20% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Benchmark increased their price objective on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Loop Capital increased their price objective on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Evercore ISI increased their price objective on Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price objective on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Finally, Royal Bank of Canada increased their price objective on Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Installed Building Products presently has an average rating of “Moderate Buy” and a consensus target price of $233.70.

Installed Building Products Stock Up 1.0 %

Shares of NYSE:IBP traded up $2.03 on Wednesday, hitting $206.03. 31,028 shares of the company traded hands, compared to its average volume of 286,507. Installed Building Products has a 52 week low of $106.01 and a 52 week high of $263.76. The company has a quick ratio of 2.67, a current ratio of 3.18 and a debt-to-equity ratio of 1.25. The stock has a 50 day simple moving average of $214.45 and a 200-day simple moving average of $217.28. The company has a market cap of $5.86 billion, a PE ratio of 23.39 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.29. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. The firm had revenue of $692.90 million during the quarter, compared to the consensus estimate of $676.60 million. As a group, research analysts expect that Installed Building Products will post 11.2 earnings per share for the current year.

Insider Activity

In other news, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the transaction, the insider now directly owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the transaction, the insider now directly owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the transaction, the director now directly owns 7,046 shares in the company, valued at $1,491,285.90. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBP. NBC Securities Inc. bought a new stake in Installed Building Products during the 4th quarter valued at approximately $25,000. Russell Investments Group Ltd. raised its stake in Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. Hexagon Capital Partners LLC raised its stake in Installed Building Products by 253.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock valued at $27,000 after purchasing an additional 104 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Installed Building Products in the 1st quarter worth approximately $29,000. Finally, Annapolis Financial Services LLC increased its stake in Installed Building Products by 45.7% in the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.