Truist Financial Forecasts Strong Price Appreciation for Installed Building Products (NYSE:IBP) Stock

Installed Building Products (NYSE:IBP) had its target price upped by equities researchers at Truist Financial from $160.00 to $180.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the construction company’s stock. Truist Financial‘s price objective suggests a potential downside of 18.79% from the stock’s current price.

A number of other equities research analysts have also weighed in on IBP. Melius Research assumed coverage on shares of Installed Building Products in a report on Tuesday, October 6th. They set a “hold” rating and a $217.00 price objective for the company. Evercore set a $222.00 target price on shares of Installed Building Products in a research note on Friday, September 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Wall Street Zen lowered Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, September 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $261.00 price target on shares of Installed Building Products in a report on Friday. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and a consensus target price of $231.08.

Installed Building Products Trading Down 0.6%

IBP stock traded down $1.44 during midday trading on Friday, reaching $221.64. The company’s stock had a trading volume of 103,012 shares, compared to its average volume of 402,930. Installed Building Products has a 1 year low of $176.15 and a 1 year high of $349.00. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 23.83, a PEG ratio of 9.36 and a beta of 1.65. The stock has a fifty day simple moving average of $204.99 and a two-hundred day simple moving average of $245.78. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, November 5th. The construction company reported $2.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). The company had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $787.70 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.18 earnings per share. On average, equities research analysts predict that Installed Building Products will post 9.75 EPS for the current year.

Insiders Place Their Bets

In related news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the sale, the director directly owned 5,142 shares of the company’s stock, valued at $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Installed Building Products

Several large investors have recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its stake in shares of Installed Building Products by 1.5% during the third 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 in the last quarter. Lazard Asset Management LLC increased its holdings in Installed Building Products by 5.0% during the first quarter. Lazard Asset Management LLC now owns 1,070 shares of the construction company’s stock valued at $284,000 after buying an additional 51 shares during the period. Apollon Wealth Management LLC raised its stake in Installed Building Products by 5.0% in the third 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 in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Installed Building Products by 29.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock worth $67,000 after buying an additional 59 shares during the period. Finally, Covestor Ltd lifted its holdings in Installed Building Products by 47.6% during the third quarter. Covestor Ltd now owns 186 shares of the construction company’s stock worth $36,000 after buying an additional 60 shares during the period. 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.