Wells Fargo & Company Lowers Installed Building Products (NYSE:IBP) Price Target to $285.00

Installed Building Products (NYSE:IBP) had its target price lowered by equities researchers at Wells Fargo & Company from $340.00 to $285.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 1.10% from the company’s previous close.

IBP has been the topic of a number of other reports. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, March 29th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $245.00 price objective on shares of Installed Building Products in a research note on Tuesday, January 13th. Jefferies Financial Group raised their price objective on Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a research note on Monday, December 15th. Weiss Ratings downgraded Installed Building Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 20th. Finally, Royal Bank Of Canada raised their price objective on Installed Building Products from $203.00 to $255.00 and gave the company an “underperform” rating in a research note on Friday, February 27th. Ten research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $259.70.

Installed Building Products Stock Up 7.6%

Shares of Installed Building Products stock traded up $19.87 during trading on Wednesday, hitting $281.91. 260,210 shares of the stock traded hands, compared to its average volume of 343,297. The stock has a market cap of $7.61 billion, a P/E ratio of 28.97, a PEG ratio of 3.72 and a beta of 1.97. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.44 and a current ratio of 3.03. Installed Building Products has a twelve month low of $150.83 and a twelve month high of $349.00. The company has a fifty day moving average price of $299.28 and a two-hundred day moving average price of $277.22.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, February 26th. The construction company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.41. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The business had revenue of $747.50 million for the quarter, compared to the consensus estimate of $738.97 million. During the same period last year, the business earned $2.88 EPS. The firm’s revenue was down .4% compared to the same quarter last year. Equities research analysts predict that Installed Building Products will post 10.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Janet E. Jackson sold 1,410 shares of the business’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 transaction of $413,567.10. Following the sale, the director directly owned 5,373 shares in the company, valued at approximately $1,575,954.63. The trade was a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total value of $125,624,000.00. Following the sale, the chief executive officer owned 1,727,819 shares in the company, valued at approximately $542,638,835.14. This represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 16.20% of the company’s stock.

Institutional Trading of Installed Building Products

A number of large investors have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. grew its position in Installed Building Products by 29.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock valued at $67,000 after acquiring an additional 59 shares during the period. World Investment Advisors grew its position in Installed Building Products by 21.1% in the fourth quarter. World Investment Advisors now owns 2,029 shares of the construction company’s stock valued at $526,000 after acquiring an additional 354 shares during the period. Corient Private Wealth LLC grew its position in Installed Building Products by 19.3% in the fourth quarter. Corient Private Wealth LLC now owns 5,742 shares of the construction company’s stock valued at $1,490,000 after acquiring an additional 929 shares during the period. Anchor Investment Management LLC bought a new stake in Installed Building Products in the fourth quarter valued at $259,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Installed Building Products in the fourth quarter valued at $243,000. 99.61% of the stock is currently owned by institutional investors.

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.