Installed Building Products (IBP) Given New $41.00 Price Target at Nomura

Installed Building Products (NYSE:IBP) had its price target reduced by Nomura from $58.00 to $41.00 in a research note issued to investors on Friday. They currently have a buy rating on the construction company’s stock.

IBP has been the subject of a number of other reports. Royal Bank of Canada set a $46.00 target price on Installed Building Products and gave the company a buy rating in a research note on Friday. Credit Suisse Group restated a neutral rating and issued a $40.00 target price on shares of Installed Building Products in a research note on Wednesday, October 17th. Seaport Global Securities downgraded Installed Building Products from a buy rating to a neutral rating and set a $37.00 target price for the company. in a research note on Friday. Jefferies Financial Group restated a buy rating and issued a $71.00 target price on shares of Installed Building Products in a research note on Friday, August 3rd. Finally, Zacks Investment Research downgraded Installed Building Products from a buy rating to a hold rating in a research note on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $52.70.

Shares of IBP stock opened at $35.81 on Friday. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.59 and a quick ratio of 2.30. Installed Building Products has a 52 week low of $29.24 and a 52 week high of $79.40. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 30.09, a P/E/G ratio of 0.54 and a beta of 1.08.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, November 1st. The construction company reported $0.72 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.07). Installed Building Products had a net margin of 3.82% and a return on equity of 29.03%. The company had revenue of $349.00 million during the quarter, compared to analyst estimates of $346.39 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. On average, analysts predict that Installed Building Products will post 2.63 earnings per share for the current fiscal year.

In related news, CEO Jeffrey W. Edwards sold 92,649 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $48.46, for a total transaction of $4,489,770.54. Following the sale, the chief executive officer now owns 300,159 shares of the company’s stock, valued at $14,545,705.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey W. Edwards sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $34.11, for a total value of $5,116,500.00. Following the sale, the chief executive officer now directly owns 300,159 shares in the company, valued at approximately $10,238,423.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,688 shares of company stock worth $15,204,410. Corporate insiders own 31.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Installed Building Products by 4.1% during the second quarter. BlackRock Inc. now owns 3,170,901 shares of the construction company’s stock worth $179,315,000 after purchasing an additional 123,489 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Installed Building Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 896,713 shares of the construction company’s stock valued at $50,711,000 after buying an additional 13,470 shares in the last quarter. Pembroke Management LTD increased its holdings in shares of Installed Building Products by 51.8% in the third quarter. Pembroke Management LTD now owns 536,546 shares of the construction company’s stock valued at $20,925,000 after buying an additional 183,083 shares in the last quarter. FMR LLC increased its holdings in shares of Installed Building Products by 150.4% in the second quarter. FMR LLC now owns 426,005 shares of the construction company’s stock valued at $24,090,000 after buying an additional 255,900 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Installed Building Products by 2.7% in the second quarter. Northern Trust Corp now owns 281,299 shares of the construction company’s stock valued at $15,908,000 after buying an additional 7,431 shares in the last quarter. 70.47% of the stock is currently 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, 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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Analyst Recommendations for Installed Building Products (NYSE:IBP)

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