Installed Building Products (NYSE:IBP) Price Target Cut to $260.00

Installed Building Products (NYSE:IBP) had its price target lowered by equities researchers at The Goldman Sachs Group from $300.00 to $260.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 14.61% from the company’s previous close.

Several other research analysts have also issued reports on IBP. Royal Bank of Canada raised their price target on Installed Building Products from $216.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. decreased their target price on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Evercore ISI increased their price target on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. Loop Capital boosted their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a report on Friday, May 10th. Finally, Benchmark increased their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.70.

Installed Building Products Price Performance

Installed Building Products stock opened at $226.86 on Wednesday. The stock has a market cap of $6.45 billion, a price-to-earnings ratio of 25.66 and a beta of 1.93. Installed Building Products has a 12-month low of $106.01 and a 12-month high of $263.76. The company has a quick ratio of 2.67, a current ratio of 3.18 and a debt-to-equity ratio of 1.25. The business’s 50-day simple moving average is $213.48 and its 200 day simple moving average is $217.30.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The company had revenue of $692.90 million during the quarter, compared to analysts’ expectations of $676.60 million. As a group, research analysts anticipate that Installed Building Products will post 11.2 earnings per share for the current year.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction on Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the sale, the director now directly owns 7,046 shares in the company, valued at approximately $1,491,285.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the transaction, the insider now owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Janet E. Jackson sold 2,122 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the sale, the director now owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by insiders.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently bought and sold shares of IBP. Guinness Atkinson Asset Management Inc lifted its holdings in Installed Building Products by 3.2% during the 2nd quarter. Guinness Atkinson Asset Management Inc now owns 4,235 shares of the construction company’s stock valued at $871,000 after purchasing an additional 132 shares during the last quarter. CWM LLC lifted its position in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after acquiring an additional 62 shares during the last quarter. Tactive Advisors LLC acquired a new position in shares of Installed Building Products in the first quarter valued at approximately $346,000. Cetera Advisors LLC bought a new position in shares of Installed Building Products during the first quarter worth approximately $372,000. Finally, Swedbank AB acquired a new stake in Installed Building Products during the 1st quarter worth approximately $96,248,000. Institutional investors own 99.61% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.