Installed Building Products’ (IBP) Equal Weight Rating Reiterated at Stephens

Installed Building Products (NYSE:IBP)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Stephens in a note issued to investors on Monday, Benzinga reports. They currently have a $240.00 price target on the construction company’s stock. Stephens’ target price would suggest a potential upside of 7.04% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of 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. Jefferies Financial Group increased their price target on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada boosted their price objective on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research report on Friday. StockNews.com lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Finally, Truist Financial boosted their price target on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $255.20.

Installed Building Products Trading Down 3.2 %

Shares of NYSE:IBP traded down $7.53 during mid-day trading on Monday, hitting $224.21. The company had a trading volume of 109,181 shares, compared to its average volume of 301,061. The firm has a fifty day moving average price of $220.70 and a 200 day moving average price of $225.16. Installed Building Products has a one year low of $106.01 and a one year high of $281.04. The company has a market capitalization of $6.38 billion, a PE ratio of 26.04 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.67.

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 analysts’ consensus estimates of $2.08 by $0.29. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The business had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. As a group, research analysts forecast that Installed Building Products will post 11.2 EPS for the current year.

Insider Transactions at Installed Building Products

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IBP. Vanguard Group Inc. grew its position in Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares during the period. Dimensional Fund Advisors LP raised its holdings in Installed Building Products by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 771,089 shares of the construction company’s stock worth $140,974,000 after purchasing an additional 5,359 shares during the period. Giverny Capital Inc. grew its holdings in Installed Building Products by 5.2% in the fourth quarter. Giverny Capital Inc. now owns 455,426 shares of the construction company’s stock valued at $83,261,000 after purchasing an additional 22,528 shares during the period. Swedbank AB increased its position in shares of Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after buying an additional 43,000 shares in the last quarter. Finally, Channing Capital Management LLC acquired a new position in shares of Installed Building Products during the 4th quarter worth approximately $58,696,000. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile

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.