Installed Building Products (NYSE:IBP – Get Free Report) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.
A number of other analysts also recently weighed in on IBP. DA Davidson reissued a “neutral” rating and set a $242.00 target price on shares of Installed Building Products in a research report on Monday, June 1st. The Goldman Sachs Group decreased their price objective on shares of Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Evercore set a $226.00 target price on shares of Installed Building Products in a research note on Friday, May 8th. Truist Financial dropped their target price on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, May 8th. Finally, Weiss Ratings cut shares of Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $247.67.
Read Our Latest Research Report on Installed Building Products
Installed Building Products Price Performance
Installed Building Products (NYSE:IBP – Get Free Report) last posted its earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $668.92 million. Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 EPS. On average, sell-side analysts forecast that Installed Building Products will post 9.57 EPS for the current fiscal year.
Insider Transactions at Installed Building Products
In other news, CFO Michael Thomas Miller bought 990 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the acquisition, the chief financial officer directly owned 34,209 shares in the company, valued at approximately $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brad A. Wheeler purchased 716 shares of Installed Building Products stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $209.13 per share, with a total value of $149,737.08. Following the transaction, the chief operating officer owned 14,988 shares in the company, valued at $3,134,440.44. This trade represents a 5.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 5,036 shares of company stock worth $1,042,807. 13.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Installed Building Products by 26.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock valued at $402,356,000 after buying an additional 328,725 shares in the last quarter. Giverny Capital Inc. increased its position in shares of Installed Building Products by 0.9% during the fourth quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock worth $134,685,000 after acquiring an additional 4,500 shares in the last quarter. First Trust Advisors LP increased its position in shares of Installed Building Products by 0.3% during the fourth quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock worth $103,950,000 after acquiring an additional 1,238 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Installed Building Products by 52.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock worth $92,138,000 after acquiring an additional 122,561 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Installed Building Products by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 350,996 shares of the construction company’s stock worth $91,045,000 after acquiring an additional 5,384 shares during the last quarter. Institutional investors and hedge funds 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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