Royal Bank of Canada Increases Installed Building Products (NYSE:IBP) Price Target to $220.00

Installed Building Products (NYSE:IBP) had its price target increased by analysts at Royal Bank of Canada from $216.00 to $220.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the construction company’s stock. Royal Bank of Canada’s target price points to a potential downside of 5.66% from the company’s previous close.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Installed Building Products in a report on Thursday, February 1st. StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Evercore ISI upped their target price on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. lowered shares of Installed Building Products from an “overweight” rating to a “neutral” rating and upped their target price for the company from $199.00 to $242.00 in a research note on Wednesday, February 28th. Finally, Truist Financial upped their target price on shares of Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $208.80.

Installed Building Products Stock Down 1.5 %

Shares of NYSE:IBP traded down $3.59 during midday trading on Friday, hitting $233.19. 39,851 shares of the company’s stock traded hands, compared to its average volume of 263,400. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.62 and a current ratio of 3.09. The company has a market cap of $6.63 billion, a PE ratio of 27.13 and a beta of 1.91. The firm’s fifty day moving average price is $242.78 and its two-hundred day moving average price is $196.43. Installed Building Products has a twelve month low of $103.50 and a twelve month high of $263.76.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The firm had revenue of $720.70 million for the quarter, compared to analyst estimates of $688.59 million. During the same quarter in the previous year, the business posted $2.34 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that Installed Building Products will post 11.2 EPS for the current fiscal year.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $244.22, for a total value of $273,282.18. Following the transaction, the chief operating officer now owns 6,679 shares in the company, valued at approximately $1,631,145.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the transaction, the chief accounting officer now directly owns 7,176 shares in the company, valued at approximately $1,675,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brad A. Wheeler sold 1,119 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the transaction, the chief operating officer now owns 6,679 shares in the company, valued at $1,631,145.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,619 shares of company stock worth $1,606,732. 16.50% of the stock is currently owned by company insiders.

Institutional Trading of Installed Building Products

A number of hedge funds have recently bought and sold shares of IBP. Channing Capital Management LLC bought a new position in shares of Installed Building Products during the 4th quarter worth about $58,696,000. Norges Bank bought a new position in shares of Installed Building Products during the 4th quarter worth about $37,583,000. Fuller & Thaler Asset Management Inc. lifted its holdings in Installed Building Products by 37.6% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 655,219 shares of the construction company’s stock valued at $81,830,000 after purchasing an additional 179,004 shares during the last quarter. William Blair Investment Management LLC bought a new position in Installed Building Products during the 3rd quarter valued at about $18,661,000. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Installed Building Products by 3,919.2% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock valued at $26,093,000 after purchasing an additional 139,172 shares during the last quarter. 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.