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

Installed Building Products (NYSE:IBP) had its price objective reduced by Wells Fargo & Company from $340.00 to $285.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the construction company’s stock.

Several other research analysts have also recently commented on the company. Jefferies Financial Group boosted their target price on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a research note on Monday, December 15th. Royal Bank Of Canada boosted their target price on Installed Building Products from $203.00 to $255.00 and gave the stock an “underperform” rating in a research note on Friday, February 27th. DA Davidson boosted their target price on Installed Building Products from $252.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 18th. Benchmark cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $245.00 target price on shares of Installed Building Products in a research note on Tuesday, January 13th. Ten analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $259.70.

Installed Building Products Trading Up 7.7%

Shares of NYSE IBP opened at $282.17 on Wednesday. Installed Building Products has a twelve month low of $150.83 and a twelve month high of $349.00. The company has a current ratio of 3.03, a quick ratio of 2.44 and a debt-to-equity ratio of 1.20. The stock has a fifty day simple moving average of $299.03 and a 200-day simple moving average of $277.25. The stock has a market capitalization of $7.61 billion, a PE ratio of 29.00, a PEG ratio of 3.72 and a beta of 1.97.

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 during the quarter, compared to analysts’ expectations of $738.97 million. During the same period in the previous year, the firm posted $2.88 earnings per share. The company’s revenue was down .4% on a year-over-year basis. On average, equities analysts forecast that Installed Building Products will post 10.66 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently declared a special dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a dividend of $1.80 per share. This represents a yield of 63.0%. The ex-dividend date of this dividend was Friday, March 13th. Installed Building Products’s payout ratio is 16.03%.

Insider Transactions at Installed Building Products

In other Installed Building Products news, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Janet E. Jackson sold 1,410 shares of Installed Building Products stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the sale, the director directly owned 5,373 shares of the company’s stock, valued at $1,575,954.63. This trade represents a 20.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 16.20% of the stock is owned by insiders.

Institutional Trading of Installed Building Products

Institutional investors have recently bought and sold shares of the business. Danske Bank A S purchased a new stake in Installed Building Products during the 3rd quarter worth about $25,000. NewEdge Advisors LLC lifted its holdings in Installed Building Products by 5,000.0% during the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Installed Building Products during the 3rd quarter worth about $33,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Installed Building Products by 700.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after buying an additional 133 shares during the last quarter. Finally, Eagle Bay Advisors LLC purchased a new stake in Installed Building Products during the 4th quarter worth about $43,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

About Installed Building Products

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.