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

Installed Building Products (NYSE:IBP) had its price objective cut by equities researchers at Wells Fargo & Company from $340.00 to $285.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 1.10% from the stock’s previous close.

IBP has been the topic of a number of other research reports. Zacks Research cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. DA Davidson lifted their price target 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. Jefferies Financial Group lifted their price target 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 lifted their price target 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. Finally, Benchmark cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Ten analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $259.70.

Installed Building Products Price Performance

NYSE:IBP traded up $19.87 during mid-day trading on Wednesday, reaching $281.91. 260,210 shares of the stock were exchanged, compared to its average volume of 343,297. The business has a fifty day moving average price of $299.28 and a 200 day moving average price of $277.22. The firm has a market capitalization of $7.61 billion, a PE ratio of 28.97, a PEG ratio of 3.72 and a beta of 1.97. Installed Building Products has a 1-year low of $150.83 and a 1-year 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.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.41. The firm had revenue of $747.50 million for the quarter, compared to analyst estimates of $738.97 million. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.Installed Building Products’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 earnings per share. Research analysts expect that Installed Building Products will post 10.66 earnings per share for the current fiscal year.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet E. Jackson sold 1,410 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $293.31, for a total transaction of $413,567.10. Following the completion of the sale, the director directly owned 5,373 shares in the company, valued at approximately $1,575,954.63. This trade represents a 20.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Installed Building Products by 29.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock valued at $67,000 after buying an additional 59 shares during the last quarter. World Investment Advisors lifted its holdings in shares of Installed Building Products by 21.1% during the 4th quarter. World Investment Advisors now owns 2,029 shares of the construction company’s stock valued at $526,000 after buying an additional 354 shares during the last quarter. Corient Private Wealth LLC lifted its holdings in shares of Installed Building Products by 19.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,742 shares of the construction company’s stock valued at $1,490,000 after buying an additional 929 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in shares of Installed Building Products during the 4th quarter valued at about $259,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Installed Building Products during the 4th quarter valued at about $243,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.