Installed Building Products, Inc. (NYSE:IBP) Stock Has Average Price Target of $229.08 According to Brokerages

Installed Building Products, Inc. (NYSE:IBP) has been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $229.08.

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Installed Building Products from $297.00 to $257.00 and set a “buy” rating for the company in a report on Monday, October 12th. Wells Fargo & Company cut their target price on Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Royal Bank Of Canada reduced their target price on Installed Building Products from $228.00 to $208.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Finally, Melius Research initiated coverage on Installed Building Products in a report on Tuesday, October 6th. They set a “hold” rating and a $217.00 price target for the company.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director owned 5,142 shares of the company’s stock, valued at $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Installed Building Products in the 2nd quarter valued at about $1,055,034,000. Reinhart Partners LLC. acquired a new stake in shares of Installed Building Products during the third quarter worth about $87,114,000. Bank of America Corp DE lifted its position in shares of Installed Building Products by 51.8% during the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock worth $79,208,000 after purchasing an additional 101,967 shares in the last quarter. Bamco Inc. NY purchased a new position in shares of Installed Building Products in the second quarter valued at approximately $45,580,000. Finally, Paralel Advisors LLC purchased a new position in shares of Installed Building Products in the second quarter valued at approximately $37,924,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Up 11.1%

Shares of NYSE:IBP opened at $236.12 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The business has a fifty day moving average of $205.48 and a two-hundred day moving average of $246.23. The stock has a market cap of $6.28 billion, a P/E ratio of 20.20, a PEG ratio of 8.44 and a beta of 1.65. Installed Building Products has a 52-week low of $176.15 and a 52-week high of $349.00.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.55 by $0.36. The business had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 EPS. On average, research analysts expect that Installed Building Products will post 9.75 earnings per share for the current year.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.