Royal Bank Of Canada Raises Installed Building Products (NYSE:IBP) Price Target to $203.00

Installed Building Products (NYSE:IBP) had its price target hoisted by analysts at Royal Bank Of Canada from $184.00 to $203.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the construction company’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 21.11% from the company’s current price.

IBP has been the topic of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Installed Building Products in a research note on Wednesday, October 8th. Vertical Research initiated coverage on Installed Building Products in a research note on Monday, October 20th. They set a “sell” rating for the company. Danske lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price on the stock. in a research note on Tuesday, August 12th. DA Davidson lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and boosted their target price for the company from $225.00 to $252.00 in a research note on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, November 2nd. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $224.45.

Installed Building Products Trading Up 2.1%

IBP opened at $257.32 on Thursday. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. Installed Building Products has a 52 week low of $150.83 and a 52 week high of $280.00. The stock has a market cap of $7.03 billion, a PE ratio of 28.62 and a beta of 1.81. The business has a 50 day moving average of $256.12 and a 200-day moving average of $215.48.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. The business had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.85 earnings per share. Equities research analysts predict that Installed Building Products will post 10.66 earnings per share for the current fiscal year.

Insider Activity at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $257.27, for a total value of $128,635.00. Following the sale, the chief accounting officer directly owned 6,822 shares of the company’s stock, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brad A. Wheeler sold 3,186 shares of Installed Building Products stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the transaction, the chief operating officer owned 8,736 shares of the company’s stock, valued at $2,404,933.44. This represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,655 shares of company stock valued at $3,123,578. Company insiders own 16.20% of the company’s stock.

Institutional Trading of Installed Building Products

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Installed Building Products by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company’s stock valued at $458,024,000 after buying an additional 34,512 shares during the last quarter. Eminence Capital LP increased its stake in Installed Building Products by 48.5% during the 2nd quarter. Eminence Capital LP now owns 945,101 shares of the construction company’s stock valued at $170,421,000 after buying an additional 308,717 shares during the period. Timucuan Asset Management Inc. FL lifted its stake in shares of Installed Building Products by 73.2% in the 2nd quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock worth $156,261,000 after acquiring an additional 366,250 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Installed Building Products by 11.9% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 593,496 shares of the construction company’s stock valued at $107,019,000 after purchasing an additional 63,315 shares in the last quarter. Finally, Giverny Capital Inc. lifted its holdings in shares of Installed Building Products by 1.3% in the second quarter. Giverny Capital Inc. now owns 514,459 shares of the construction company’s stock valued at $92,767,000 after buying an additional 6,386 shares during the period. 99.61% of the stock is owned by hedge funds and other 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.