DA Davidson Raises Installed Building Products (NYSE:IBP) Price Target to $270.00

Installed Building Products (NYSE:IBP) had its price objective hoisted by stock analysts at DA Davidson from $252.00 to $270.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. DA Davidson’s price objective would suggest a potential downside of 0.86% from the stock’s current price.

IBP has been the subject of a number of other research reports. Wells Fargo & Company cut their price target on shares of Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. Zacks Research cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Weiss Ratings upgraded Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Jefferies Financial Group upped their price target on Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a research note on Monday, December 15th. Finally, Vertical Research raised shares of Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 target price on the stock in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $257.73.

Installed Building Products Price Performance

NYSE:IBP opened at $272.33 on Wednesday. Installed Building Products has a one year low of $150.83 and a one year high of $349.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.44 and a current ratio of 3.03. The stock has a 50 day moving average price of $309.13 and a 200 day moving average price of $277.07. The stock has a market cap of $7.35 billion, a PE ratio of 27.99, a P/E/G ratio of 3.90 and a beta of 1.90.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, February 26th. The construction company reported $3.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.41. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The firm had revenue of $747.50 million during the quarter, compared to analyst estimates of $738.97 million. During the same quarter in the prior year, the firm posted $2.88 earnings per share. Installed Building Products’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts expect that Installed Building Products will post 10.66 EPS for the current fiscal year.

Insider Transactions at Installed Building Products

In related news, CEO Jeffrey W. Edwards sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,727,819 shares in the company, valued at $542,638,835.14. This trade represents a 18.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Janet E. Jackson sold 1,410 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $293.31, for a total transaction of $413,567.10. Following the sale, the director owned 5,373 shares in the company, valued at $1,575,954.63. This trade represents a 20.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new stake in shares of Installed Building Products in the third quarter valued at $25,000. NewEdge Advisors LLC grew its stake in Installed Building Products by 5,000.0% during the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Installed Building Products during the third quarter worth about $33,000. Northwestern Mutual Wealth Management Co. raised its holdings in Installed Building Products by 700.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after acquiring an additional 133 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in Installed Building Products in the third quarter worth approximately $42,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Company Profile

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.