Installed Building Products (NYSE:IBP) Price Target Raised to $272.00

Installed Building Products (NYSE:IBPGet Free Report) had its price target increased by stock analysts at Evercore ISI from $226.00 to $272.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the construction company’s stock. Evercore ISI’s price target would indicate a potential upside of 8.87% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Installed Building Products in a research report on Thursday, February 1st. Loop Capital raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Royal Bank of Canada raised their price target on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lowered shares of Installed Building Products from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $199.00 to $242.00 in a research report on Wednesday, February 28th. Finally, DA Davidson initiated coverage on shares of Installed Building Products in a report on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price for the company. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.40.

Check Out Our Latest Report on IBP

Installed Building Products Price Performance

NYSE:IBP traded down $7.41 during trading hours on Tuesday, hitting $249.84. The company’s stock had a trading volume of 45,283 shares, compared to its average volume of 248,760. Installed Building Products has a 52-week low of $103.50 and a 52-week high of $263.76. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.62 and a current ratio of 3.09. The business’s 50-day moving average is $224.53 and its two-hundred day moving average is $174.02. The company has a market capitalization of $7.09 billion, a PE ratio of 29.09, a PEG ratio of 1.59 and a beta of 1.89.

Installed Building Products (NYSE:IBPGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business had revenue of $720.70 million during the quarter, compared to the consensus estimate of $688.59 million. During the same quarter last year, the firm posted $2.34 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Installed Building Products will post 11.25 EPS for the current fiscal year.

Insider Buying and Selling at Installed Building Products

In other news, CFO Michael Thomas Miller sold 5,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the sale, the chief financial officer now owns 38,320 shares in the company, valued at $9,324,788.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the transaction, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Thomas Miller sold 5,000 shares of Installed Building Products stock in a transaction on Monday, March 4th. The shares were sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the completion of the transaction, the chief financial officer now owns 38,320 shares in the company, valued at approximately $9,324,788.80. The disclosure for this sale can be found here. In the last three months, insiders sold 6,619 shares of company stock worth $1,606,732. Insiders own 17.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Annapolis Financial Services LLC increased its stake in Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares during the last quarter. Quarry LP increased its position in Installed Building Products by 37.5% during the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock worth $38,000 after purchasing an additional 57 shares in the last quarter. Shaker Investments LLC OH raised its holdings in Installed Building Products by 0.6% in the fourth quarter. Shaker Investments LLC OH now owns 10,665 shares of the construction company’s stock valued at $1,950,000 after buying an additional 66 shares during the period. Stratos Wealth Partners LTD. lifted its position in Installed Building Products by 2.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 4,144 shares of the construction company’s stock valued at $758,000 after buying an additional 93 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in Installed Building Products by 2.0% during the second quarter. Captrust Financial Advisors now owns 4,913 shares of the construction company’s stock worth $689,000 after buying an additional 97 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

About Installed Building Products

(Get Free Report)

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.

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