Installed Building Products (NYSE:IBP) Stock Price Target Cut by The Goldman Sachs Group

Installed Building Products (NYSE:IBP) had its price target dropped by The Goldman Sachs Group from $297.00 to $257.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 37.09% from the stock’s current price.

Several other equities analysts have also recently commented on the company. DA Davidson upped their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Stifel Nicolaus assumed coverage on Installed Building Products in a report on Monday, September 14th. They set a “buy” rating and a $240.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Melius Research started coverage on Installed Building Products in a research note on Tuesday, October 6th. They issued a “hold” rating and a $217.00 target price for the company. Finally, Evercore set a $222.00 target price on Installed Building Products in a research note on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $234.50.

Installed Building Products Stock Up 1.1%

NYSE:IBP traded up $2.03 during trading hours on Monday, reaching $187.47. The company’s stock had a trading volume of 142,280 shares, compared to its average volume of 401,578. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 8.26 and a beta of 1.71. Installed Building Products has a one year low of $178.54 and a one year high of $349.00. The business’s 50-day moving average is $221.06 and its 200-day moving average is $232.60.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The firm had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. During the same quarter in the prior year, the business earned $2.95 earnings per share. The company’s revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that Installed Building Products will post 9.89 EPS for the current year.

Insider Buying and Selling at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the transaction, the director directly owned 5,142 shares in the company, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.80% of the company’s stock.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Installed Building Products during the second quarter worth approximately $1,055,034,000. Reinhart Partners LLC. acquired a new position in Installed Building Products during the third quarter valued at approximately $87,114,000. Bank of America Corp DE boosted its position in shares of Installed Building Products by 51.8% during the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock worth $79,208,000 after purchasing an additional 101,967 shares in the last quarter. Bamco Inc. NY acquired a new position in shares of Installed Building Products in the 2nd quarter valued at $45,580,000. Finally, Paralel Advisors LLC bought a new position in Installed Building Products during the second quarter worth about $37,924,000. 99.61% of the stock is owned by institutional investors.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.