Installed Building Products (NYSE:IBP) Receives New Coverage from Analysts at Goldman Sachs Group
Goldman Sachs Group began coverage on shares of Installed Building Products (NYSE:IBP) in a research report sent to investors on Friday, Benzinga reports. The firm issued a neutral rating and a $74.00 price target on the construction company’s stock.
A number of other research firms have also recently commented on IBP. Deutsche Bank started coverage on shares of Installed Building Products in a research note on Wednesday, November 27th. They issued a buy rating and a $82.00 target price for the company. Nomura upped their price target on shares of Installed Building Products from $50.00 to $52.00 and gave the company a neutral rating in a research note on Friday, August 9th. SunTrust Banks raised their price target on shares of Installed Building Products to $71.00 and gave the stock a hold rating in a report on Monday, November 4th. ValuEngine upgraded shares of Installed Building Products from a sell rating to a hold rating in a research note on Thursday, October 17th. Finally, Zacks Investment Research upgraded shares of Installed Building Products from a hold rating to a strong-buy rating and set a $81.00 price objective for the company in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Installed Building Products presently has an average rating of Hold and a consensus target price of $60.07.
Shares of NYSE IBP opened at $71.45 on Friday. Installed Building Products has a fifty-two week low of $30.54 and a fifty-two week high of $76.60. The company has a market cap of $2.14 billion, a PE ratio of 26.76, a P/E/G ratio of 1.45 and a beta of 1.16. The company has a debt-to-equity ratio of 2.52, a quick ratio of 2.39 and a current ratio of 2.69. The business has a 50-day simple moving average of $69.27 and a two-hundred day simple moving average of $59.20.
In other Installed Building Products news, Director Vikas Verma sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the completion of the sale, the director now directly owns 151,935 shares of the company’s stock, valued at approximately $9,116,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Jay P. Elliott sold 20,000 shares of Installed Building Products stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.83, for a total value of $1,416,600.00. Following the transaction, the chief operating officer now owns 23,529 shares in the company, valued at approximately $1,666,559.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,000 shares of company stock worth $3,966,600. Insiders own 25.20% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Installed Building Products during the third quarter worth about $42,000. Tower Research Capital LLC TRC boosted its holdings in Installed Building Products by 527.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,588 shares of the construction company’s stock valued at $94,000 after purchasing an additional 1,335 shares during the last quarter. SG Americas Securities LLC acquired a new position in Installed Building Products in the 3rd quarter valued at about $121,000. Bank of Montreal Can grew its stake in shares of Installed Building Products by 178.7% in the 2nd quarter. Bank of Montreal Can now owns 2,954 shares of the construction company’s stock valued at $175,000 after buying an additional 1,894 shares during the period. Finally, Nkcfo LLC purchased a new stake in shares of Installed Building Products in the 3rd quarter valued at approximately $195,000. 68.27% 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 continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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