Installed Building Products (NYSE:IBP) Price Target Cut to $244.00 by Analysts at DA Davidson

Installed Building Products (NYSE:IBP) had its target price dropped by stock analysts at DA Davidson from $250.00 to $244.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the construction company’s stock. DA Davidson‘s price target indicates a potential upside of 7.71% from the stock’s current price.

Other equities analysts have also issued reports about the company. Truist Financial upped their target price on Installed Building Products from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Friday. The Goldman Sachs Group reiterated a “buy” rating and set a $261.00 price objective on shares of Installed Building Products in a report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Royal Bank Of Canada cut their target price on Installed Building Products from $208.00 to $194.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Evercore set a $222.00 price target on Installed Building Products in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $229.83.

Installed Building Products Price Performance

IBP stock traded up $6.46 during trading on Monday, hitting $226.53. The stock had a trading volume of 162,774 shares, compared to its average volume of 402,961. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 8.75 and a beta of 1.65. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.54 and a current ratio of 3.12. The company’s 50 day moving average price is $204.57 and its two-hundred day moving average price is $245.38. Installed Building Products has a 1-year low of $176.15 and a 1-year high of $349.00.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, November 5th. The construction company reported $2.76 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). The firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $787.70 million. Installed Building Products had a return on equity of 39.86% and a net margin of 7.87%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.18 earnings per share. On average, sell-side analysts forecast that Installed Building Products will post 9.75 EPS for the current fiscal year.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the transaction, the director owned 5,142 shares of the company’s stock, valued at $1,218,962.52. This represents a 17.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Installed Building Products during the second quarter valued at approximately $1,055,034,000. Reinhart Partners LLC. bought a new position in shares of Installed Building Products in the third quarter worth about $87,114,000. Bank of America Corp DE grew its position in shares of Installed Building Products by 51.8% during the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock worth $79,208,000 after purchasing an additional 101,967 shares in the last quarter. Bamco Inc. NY purchased a new stake in shares of Installed Building Products during the second quarter worth about $45,580,000. Finally, Paralel Advisors LLC purchased a new stake in shares of Installed Building Products during the second quarter worth about $37,924,000. 99.61% of the stock is owned by institutional investors.

About Installed Building Products

Installed Building Products, Inc is a U.S. building-products installation company headquartered in Columbus, Ohio. Founded in 1977, the company serves residential builders, commercial contractors, and homeowners through a network of local operating businesses across the United States.

The company’s core business is installing insulation in new construction and existing buildings. Its offerings include fiberglass, cellulose, and spray-foam insulation, along with related weatherization services.

Installed Building Products also installs complementary products such as garage doors, rain gutters, shower doors, and closet shelving.