Installed Building Products (NYSE:IBP) Given Equal Weight Rating at Stephens

Installed Building Products (NYSE:IBP)‘s stock had its “equal weight” rating restated by equities researchers 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’ price target indicates a potential upside of 7.04% from the company’s previous close.

A number of other equities analysts have also recently issued reports on IBP. Loop Capital increased their target price on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, May 10th. The Goldman Sachs Group lifted their target price on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. reduced their price target 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. Truist Financial lifted their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday. 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. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Installed Building Products has an average 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 midday trading on Monday, hitting $224.21. The company had a trading volume of 109,181 shares, compared to its average volume of 301,061. Installed Building Products has a 12 month low of $106.01 and a 12 month high of $281.04. The company has a current ratio of 3.08, a quick ratio of 2.67 and a debt-to-equity ratio of 1.24. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 26.04 and a beta of 1.93. The firm has a fifty day simple moving average of $220.70 and a 200 day simple moving average of $225.16.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. On average, analysts predict that Installed Building Products will post 11.2 EPS for the current year.

Insider Buying and Selling at Installed Building Products

In related news, 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 transaction of $1,379,040.00. Following the completion of the sale, the insider now directly owns 13,159 shares in the company, valued at approximately $3,024,464.56. The sale was disclosed in a filing with the SEC, which is available 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 stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the sale, the insider now directly owns 13,159 shares of the company’s stock, valued at $3,024,464.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Janet E. Jackson sold 2,122 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 7,046 shares of the company’s stock, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. Insiders own 16.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IBP. Panagora Asset Management Inc. acquired a new stake in Installed Building Products during the 4th quarter valued at approximately $7,820,000. Channing Capital Management LLC bought a new position in Installed Building Products during the fourth quarter worth $58,696,000. Vanguard Group Inc. lifted its holdings in Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after buying an additional 18,890 shares during the period. Duality Advisers LP increased its holdings in Installed Building Products by 32.2% in the first quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock worth $3,596,000 after purchasing an additional 3,389 shares in the last quarter. Finally, Goodnow Investment Group LLC grew its holdings in Installed Building Products by 28.9% in the fourth quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock worth $16,897,000 after purchasing an additional 20,737 shares during the period. 99.61% of the stock is owned by institutional investors.

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.