Installed Building Products (NYSE:IBP – Get Free Report) had its price target lowered by stock analysts at Royal Bank Of Canada from $208.00 to $194.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “sector perform” rating on the construction company’s stock. Royal Bank Of Canada‘s target price suggests a potential downside of 12.57% from the company’s current price.
A number of other research analysts have also commented on IBP. Wells Fargo & Company cut their price objective on shares of Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Stifel Nicolaus decreased their target price on Installed Building Products from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Monday, October 26th. The Goldman Sachs Group restated a “buy” rating and set a $261.00 price target on shares of Installed Building Products in a research note on Friday. DA Davidson raised their price objective on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Zacks Research lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $229.92.
Check Out Our Latest Stock Analysis on IBP
Installed Building Products Stock Performance
NYSE:IBP traded down $1.18 during trading hours on Friday, hitting $221.90. 109,231 shares of the company traded hands, compared to its average volume of 402,960. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 9.36 and a beta of 1.65. Installed Building Products has a twelve month low of $176.15 and a twelve month high of $349.00. The firm has a 50-day moving average of $204.99 and a 200 day moving average of $245.78. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62.
Installed Building Products (NYSE:IBP – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The construction company reported $2.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $787.70 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. Installed Building Products’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company earned $3.18 earnings per share. On average, analysts forecast that Installed Building Products will post 9.75 EPS for the current year.
Insider Buying and Selling at Installed Building Products
In other news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director directly owned 5,142 shares in the company, valued at approximately $1,218,962.52. The trade was a 17.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.80% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its stake in shares of Installed Building Products by 1.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,192 shares of the construction company’s stock valued at $613,000 after purchasing an additional 47 shares during the period. Lazard Asset Management LLC raised its holdings in shares of Installed Building Products by 5.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,070 shares of the construction company’s stock worth $284,000 after buying an additional 51 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of Installed Building Products by 5.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,101 shares of the construction company’s stock worth $211,000 after buying an additional 52 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Installed Building Products by 29.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock valued at $67,000 after buying an additional 59 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Installed Building Products by 47.6% in the 3rd quarter. Covestor Ltd now owns 186 shares of the construction company’s stock valued at $36,000 after buying an additional 60 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.
Installed Building Products Company Profile
Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.
Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.
Further Reading
- Five stocks we like better than Installed Building Products
- CVS Raised Its Outlook and Announced a Breakup—So Why Did the Stock Drop?
- Array and Shoals Are Merging: Who Really Wins the All-Stock Solar Deal?
- Duolingo’s User Growth Is Outpacing Bookings, But Is Its Strategy Paying Off?
- Block by Block: Cash App Builds a Stronger Foundation
Receive News & Ratings for Installed Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products and related companies with MarketBeat.com's FREE daily email newsletter.
