Installed Building Products Inc (IBP) Receives $60.89 Average Target Price from Analysts

Installed Building Products Inc (NYSE:IBP) has been given an average recommendation of “Hold” by the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $60.89.

A number of research analysts have commented on IBP shares. ValuEngine cut Installed Building Products from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Zacks Investment Research cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Jefferies Financial Group restated a “buy” rating and set a $71.00 price objective on shares of Installed Building Products in a research note on Friday, August 3rd. Royal Bank of Canada set a $66.00 price objective on Installed Building Products and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, Stephens restated a “buy” rating and set a $65.00 price objective on shares of Installed Building Products in a research note on Wednesday, August 8th.

In related news, CEO Jeffrey W. Edwards sold 92,649 shares of the business’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $48.46, for a total value of $4,489,770.54. Following the transaction, the chief executive officer now owns 300,159 shares in the company, valued at $14,545,705.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey W. Edwards sold 107,039 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $52.30, for a total value of $5,598,139.70. Following the completion of the transaction, the chief executive officer now owns 351,071 shares in the company, valued at approximately $18,361,013.30. The disclosure for this sale can be found here. Insiders own 31.10% of the company’s stock.



Several large investors have recently added to or reduced their stakes in IBP. Northern Trust Corp lifted its stake in shares of Installed Building Products by 0.7% in the first quarter. Northern Trust Corp now owns 273,868 shares of the construction company’s stock worth $16,445,000 after acquiring an additional 1,888 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Installed Building Products by 4.9% in the first quarter. The Manufacturers Life Insurance Company now owns 59,839 shares of the construction company’s stock worth $3,592,000 after acquiring an additional 2,797 shares in the last quarter. LPL Financial LLC lifted its stake in shares of Installed Building Products by 55.7% in the first quarter. LPL Financial LLC now owns 4,479 shares of the construction company’s stock worth $269,000 after acquiring an additional 1,602 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Installed Building Products in the first quarter worth about $279,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Installed Building Products in the first quarter worth about $958,000. Institutional investors and hedge funds own 69.99% of the company’s stock.

Shares of Installed Building Products stock opened at $30.78 on Friday. Installed Building Products has a twelve month low of $29.24 and a twelve month high of $79.40. The firm has a market capitalization of $946.29 million, a P/E ratio of 25.87, a PEG ratio of 0.45 and a beta of 0.78. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.50 and a current ratio of 2.80.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 2nd. The construction company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). The firm had revenue of $332.60 million during the quarter, compared to analyst estimates of $334.24 million. Installed Building Products had a net margin of 3.70% and a return on equity of 24.57%. Installed Building Products’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. As a group, equities research analysts predict that Installed Building Products will post 2.65 EPS for the current year.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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Analyst Recommendations for Installed Building Products (NYSE:IBP)

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