Installed Building Products (NYSE:IBP – Get Free Report) had its price objective cut by equities researchers at DA Davidson from $270.00 to $242.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the construction company’s stock. DA Davidson’s price target points to a potential upside of 17.51% from the company’s current price.
Several other research analysts have also weighed in on the stock. Truist Financial decreased their price objective on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a report on Friday. Evercore set a $226.00 target price on Installed Building Products in a report on Friday. Vertical Research raised Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 price target on the stock in a research report on Friday, February 27th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $245.00 price target on shares of Installed Building Products in a research report on Tuesday, January 13th. Finally, Royal Bank Of Canada upgraded Installed Building Products from an “underperform” rating to a “sector perform” rating and dropped their price target for the stock from $255.00 to $228.00 in a research report on Friday. One investment analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $251.83.
View Our Latest Stock Report on IBP
Installed Building Products Trading Down 6.4%
Installed Building Products (NYSE:IBP – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The business had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $668.92 million. During the same quarter last year, the firm earned $2.08 EPS. The firm’s quarterly revenue was down 3.5% compared to the same quarter last year. Research analysts forecast that Installed Building Products will post 10.81 EPS for the current year.
Insider Buying and Selling at Installed Building Products
In other news, Director Janet E. Jackson sold 1,410 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the sale, the director directly owned 5,373 shares in the company, valued at approximately $1,575,954.63. This represents a 20.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total value of $125,624,000.00. Following the transaction, the chief executive officer owned 1,727,819 shares of the company’s stock, valued at $542,638,835.14. This trade represents a 18.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 13.80% of the company’s stock.
Institutional Trading of Installed Building Products
Several large investors have recently made changes to their positions in IBP. MGO One Seven LLC grew its holdings in Installed Building Products by 3.1% during the 4th quarter. MGO One Seven LLC now owns 1,133 shares of the construction company’s stock worth $294,000 after acquiring an additional 34 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its stake in shares of Installed Building Products by 2.6% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 1,396 shares of the construction company’s stock valued at $362,000 after acquiring an additional 35 shares during the period. Abel Hall LLC lifted its position in Installed Building Products by 2.8% during the 1st quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock valued at $342,000 after purchasing an additional 35 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Installed Building Products by 2.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company’s stock valued at $472,000 after buying an additional 35 shares during the period. Finally, Maryland State Retirement & Pension System boosted its stake in Installed Building Products by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company’s stock valued at $860,000 after acquiring an additional 35 shares during 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 leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.
Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.
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