Royal Bank Of Canada Issues Positive Forecast for Installed Building Products (NYSE:IBP) Stock Price

Installed Building Products (NYSE:IBP) had its price target lifted by investment analysts at Royal Bank Of Canada from $184.00 to $203.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the construction company’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 18.09% from the company’s previous close.

Several other brokerages have also issued reports on IBP. Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Zelman & Associates upgraded Installed Building Products from an “underperform” rating to a “neutral” rating in a report on Friday, August 8th. Danske lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price for the company. in a research note on Tuesday, August 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Installed Building Products in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group raised their price target on Installed Building Products from $175.00 to $225.00 and gave the company a “hold” rating in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Installed Building Products presently has an average rating of “Reduce” and an average price target of $222.18.

Installed Building Products Stock Performance

Shares of NYSE IBP traded up $2.00 during midday trading on Thursday, reaching $247.83. 75,345 shares of the company traded hands, compared to its average volume of 430,729. The stock has a 50-day moving average price of $256.43 and a 200 day moving average price of $214.51. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 27.57 and a beta of 1.81. Installed Building Products has a 52 week low of $150.83 and a 52 week high of $280.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.50. The firm had revenue of $760.30 million for the quarter, compared to analysts’ expectations of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.Installed Building Products’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $2.84 EPS. Sell-side analysts anticipate that Installed Building Products will post 10.66 earnings per share for the current fiscal year.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet E. Jackson sold 1,469 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total transaction of $390,754.00. Following the sale, the director directly owned 6,873 shares in the company, valued at $1,828,218. This represents a 17.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Brad A. Wheeler sold 3,186 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total value of $877,073.94. Following the transaction, the chief operating officer directly owned 8,736 shares in the company, valued at approximately $2,404,933.44. This represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Installed Building Products by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company’s stock worth $458,024,000 after purchasing an additional 34,512 shares during the period. Eminence Capital LP grew its stake in shares of Installed Building Products by 48.5% during the second quarter. Eminence Capital LP now owns 945,101 shares of the construction company’s stock worth $170,421,000 after purchasing an additional 308,717 shares in the last quarter. Timucuan Asset Management Inc. FL grew its stake in shares of Installed Building Products by 73.2% during the second quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock worth $156,261,000 after purchasing an additional 366,250 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Installed Building Products by 11.9% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 593,496 shares of the construction company’s stock worth $107,019,000 after purchasing an additional 63,315 shares in the last quarter. Finally, Giverny Capital Inc. boosted its stake in Installed Building Products by 1.3% in the second quarter. Giverny Capital Inc. now owns 514,459 shares of the construction company’s stock valued at $92,767,000 after acquiring an additional 6,386 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

About Installed Building Products

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.