JPMorgan Chase & Co. Cuts Installed Building Products (NYSE:IBP) Price Target to $195.00

Installed Building Products (NYSE:IBP) had its target price decreased by JPMorgan Chase & Co. from $284.00 to $195.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the construction company’s stock.

Several other brokerages have also issued reports on IBP. The Goldman Sachs Group reduced their price target on Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a report on Friday, May 8th. Wells Fargo & Company reduced their price target on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Zacks Research downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Royal Bank Of Canada set a $242.00 target price on shares of Installed Building Products in a research report on Monday. Finally, Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $247.67.

Installed Building Products Trading Down 3.9%

Shares of NYSE IBP opened at $208.86 on Wednesday. Installed Building Products has a one year low of $150.83 and a one year high of $349.00. The firm has a market capitalization of $5.63 billion, a PE ratio of 22.27, a PEG ratio of 4.91 and a beta of 1.84. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. The business has a 50-day moving average price of $273.75 and a two-hundred day moving average price of $280.76.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $668.92 million. Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The company’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 earnings per share. As a group, analysts predict that Installed Building Products will post 10.51 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 15th. Installed Building Products’s payout ratio is 16.63%.

Insider Transactions at Installed Building Products

In related news, Director Janet E. Jackson sold 1,410 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the sale, the director directly owned 5,373 shares in the company, valued at approximately $1,575,954.63. The trade was a 20.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jason R. Niswonger bought 455 shares of Installed Building Products stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $214.80 per share, with a total value of $97,734.00. Following the completion of the acquisition, the insider owned 17,122 shares in the company, valued at approximately $3,677,805.60. The trade was a 2.73% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 4,046 shares of company stock worth $844,194. 13.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Installed Building Products by 3.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock worth $2,423,000 after buying an additional 486 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Installed Building Products during the first quarter worth approximately $263,000. Jane Street Group LLC lifted its holdings in shares of Installed Building Products by 270.0% during the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after buying an additional 12,545 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Installed Building Products by 5.9% during the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after buying an additional 92 shares during the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of Installed Building Products by 959.6% during the second quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock worth $3,265,000 after buying an additional 16,400 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.