Installed Building Products (NYSE:IBP) Given New $240.00 Price Target at Stephens

Installed Building Products (NYSE:IBP) had its price target lowered by stock analysts at Stephens from $300.00 to $240.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Stephens’ price target suggests a potential upside of 9.23% from the stock’s previous close.

Several other research firms have also issued reports on IBP. Weiss Ratings upgraded Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. restated an “underweight” rating and set a $245.00 price target on shares of Installed Building Products in a research report on Tuesday, January 13th. Wall Street Zen lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Wells Fargo & Company cut their price objective on Installed Building Products from $340.00 to $285.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada upgraded Installed Building Products from an “underperform” rating to a “sector perform” rating and set a $228.00 price objective on the stock in a research report on Friday. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $255.45.

Installed Building Products Price Performance

IBP opened at $219.73 on Friday. The stock’s 50 day simple moving average is $287.19 and its 200 day simple moving average is $283.19. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.03 and a quick ratio of 2.44. Installed Building Products has a 1 year low of $150.83 and a 1 year high of $349.00. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 4.15 and a beta of 1.84.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $668.92 million. During the same quarter in the previous year, the business earned $2.08 earnings per share. Installed Building Products’s revenue was down 3.5% compared to the same quarter last year. As a group, analysts predict that Installed Building Products will post 10.81 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Janet E. Jackson sold 1,410 shares of Installed Building Products stock in a transaction 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 completion of the sale, the director owned 5,373 shares of the company’s stock, valued at $1,575,954.63. The trade was a 20.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products stock in a transaction 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 completion of the sale, the chief executive officer directly owned 1,727,819 shares of the company’s stock, valued at $542,638,835.14. The trade was a 18.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 13.80% of the stock is currently owned by insiders.

Institutional Trading of Installed Building Products

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings 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 worth $402,356,000 after acquiring an additional 328,725 shares during the period. Giverny Capital Inc. grew its holdings in shares of Installed Building Products by 0.9% in 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 during the period. First Trust Advisors LP grew its holdings in shares of Installed Building Products by 0.3% in 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 during the period. Goldman Sachs Group Inc. grew its holdings in shares of Installed Building Products by 52.7% in the fourth 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 period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Installed Building Products by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 350,996 shares of the construction company’s stock valued at $91,045,000 after purchasing an additional 5,384 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 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.