Installed Building Products (NYSE:IBP) Price Target Cut to $95.00

Installed Building Products (NYSE:IBPGet Rating) had its price target cut by The Goldman Sachs Group from $114.00 to $95.00 in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a “neutral” rating on the construction company’s stock. The Goldman Sachs Group’s target price points to a potential upside of 17.94% from the company’s current price.

A number of other research analysts have also weighed in on the company. StockNews.com started coverage on Installed Building Products in a report on Thursday, March 31st. They set a “hold” rating on the stock. Credit Suisse Group started coverage on Installed Building Products in a report on Tuesday, April 5th. They set a “neutral” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on Installed Building Products from $127.00 to $101.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 30th. Zacks Investment Research upgraded Installed Building Products from a “sell” rating to a “hold” rating in a research report on Wednesday, March 30th. Finally, Zelman & Associates upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Thursday, December 23rd. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $121.67.

Shares of IBP stock opened at $80.55 on Tuesday. The business’s fifty day moving average price is $96.34 and its 200 day moving average price is $114.71. Installed Building Products has a 1-year low of $75.95 and a 1-year high of $141.43. The firm has a market capitalization of $2.39 billion, a PE ratio of 20.09 and a beta of 1.87. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.79 and a quick ratio of 2.33.

Installed Building Products (NYSE:IBPGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The construction company reported $1.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.11). Installed Building Products had a return on equity of 42.34% and a net margin of 6.03%. The business had revenue of $533.72 million for the quarter, compared to analyst estimates of $520.69 million. During the same period in the prior year, the company earned $1.23 EPS. The company’s revenue was up 20.9% on a year-over-year basis. Equities research analysts expect that Installed Building Products will post 6.59 earnings per share for the current fiscal year.

In related news, Director Lawrence A. Hilsheimer acquired 513 shares of Installed Building Products stock in a transaction dated Monday, February 28th. The shares were acquired at an average cost of $97.30 per share, for a total transaction of $49,914.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 20.80% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of the company. Wedge Capital Management L L P NC lifted its position in shares of Installed Building Products by 0.8% in the first quarter. Wedge Capital Management L L P NC now owns 66,487 shares of the construction company’s stock valued at $5,617,000 after acquiring an additional 525 shares in the last quarter. Norges Bank purchased a new position in Installed Building Products during the fourth quarter worth about $21,034,000. BlackRock Inc. lifted its position in Installed Building Products by 2.4% during the fourth quarter. BlackRock Inc. now owns 3,839,794 shares of the construction company’s stock worth $536,497,000 after buying an additional 90,724 shares during the period. Wells Fargo & Company MN lifted its position in Installed Building Products by 16.5% during the fourth quarter. Wells Fargo & Company MN now owns 39,180 shares of the construction company’s stock worth $5,473,000 after buying an additional 5,561 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Installed Building Products by 33.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 484,740 shares of the construction company’s stock worth $67,728,000 after buying an additional 121,055 shares during the period. Institutional investors and hedge funds own 79.42% of the company’s stock.

Installed Building Products Company Profile (Get Rating)

Installed Building Products, Inc engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.

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