Installed Building Products (NYSE:IBP) Given New $88.00 Price Target at JPMorgan Chase & Co.

Installed Building Products (NYSE:IBP – Get Rating) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $101.00 to $88.00 in a research note issued on Wednesday, The Fly reports. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 7.65% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Credit Suisse Group assumed coverage on shares of Installed Building Products in a research note on Tuesday, April 5th. They set a “neutral” rating and a $95.00 target price on the stock. StockNews.com assumed coverage on shares of Installed Building Products in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zelman & Associates upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Thursday, December 23rd. The Goldman Sachs Group cut their price objective on shares of Installed Building Products from $114.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Finally, Truist Financial cut their price objective on shares of Installed Building Products from $150.00 to $135.00 in a research note on Monday, February 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $120.22.

NYSE:IBP opened at $81.75 on Wednesday. The firm has a market capitalization of $2.43 billion, a P/E ratio of 20.39 and a beta of 1.87. Installed Building Products has a 1-year low of $75.95 and a 1-year high of $141.43. The company’s fifty day moving average price is $94.19 and its 200-day moving average price is $113.84. 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:IBP – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The construction company reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.11). The firm had revenue of $533.72 million for the quarter, compared to analyst estimates of $520.69 million. Installed Building Products had a net margin of 6.03% and a return on equity of 42.34%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.23 EPS. Equities analysts anticipate that Installed Building Products will post 6.59 EPS for the current fiscal year.

In other news, Director Lawrence A. Hilsheimer bought 513 shares of the stock in a transaction that occurred on Monday, February 28th. The shares were purchased at an average cost of $97.30 per share, with a total value of $49,914.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of IBP. Findlay Park Partners LLP increased its stake in Installed Building Products by 54.4% in the 4th quarter. Findlay Park Partners LLP now owns 1,861,126 shares of the construction company’s stock worth $260,037,000 after purchasing an additional 655,406 shares in the last quarter. Credit Suisse AG increased its stake in Installed Building Products by 1,807.7% in the 3rd quarter. Credit Suisse AG now owns 663,892 shares of the construction company’s stock worth $71,135,000 after purchasing an additional 629,092 shares in the last quarter. Norges Bank purchased a new position in Installed Building Products in the 4th quarter worth about $21,034,000. Goldman Sachs Group Inc. increased its stake in Installed Building Products by 33.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 484,740 shares of the construction company’s stock worth $67,728,000 after purchasing an additional 121,055 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Installed Building Products by 111.9% in the 3rd quarter. Capital Research Global Investors now owns 189,361 shares of the construction company’s stock worth $20,290,000 after purchasing an additional 100,000 shares in the last quarter. 79.42% of the stock is currently owned by hedge funds and other institutional investors.

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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