Installed Building Products (NYSE:IBP) PT Lowered to $108.00 at BTIG Research

Installed Building Products (NYSE:IBPGet Rating) had its price objective cut by equities researchers at BTIG Research from $124.00 to $108.00 in a note issued to investors on Friday, The Fly reports. BTIG Research’s target price would indicate a potential upside of 24.47% from the stock’s current price.

IBP has been the topic of several other reports. StockNews.com started coverage on Installed Building Products in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research upgraded Installed Building Products from a “sell” rating to a “hold” rating in a research note on Wednesday. The Goldman Sachs Group reduced their price objective on 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. Credit Suisse Group started coverage on Installed Building Products in a research note on Tuesday, April 5th. They set a “neutral” rating and a $95.00 price objective on the stock. Finally, Jefferies Financial Group cut Installed Building Products from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $117.00 to $105.00 in a research note on Monday, March 21st. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $119.00.

Installed Building Products stock opened at $86.77 on Friday. The stock has a market cap of $2.54 billion, a P/E ratio of 21.64 and a beta of 1.78. The company has a current ratio of 2.79, a quick ratio of 2.33 and a debt-to-equity ratio of 2.00. The stock has a 50 day moving average of $89.22 and a 200-day moving average of $111.69. Installed Building Products has a 52 week low of $75.95 and a 52 week high of $141.43.

Installed Building Products (NYSE:IBPGet Rating) last released its earnings results on Thursday, May 5th. The construction company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.12 by $0.42. The company had revenue of $587.50 million during the quarter, compared to analysts’ expectations of $541.59 million. Installed Building Products had a return on equity of 42.34% and a net margin of 6.03%. The business’s revenue was up 34.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. As a group, equities analysts predict that Installed Building Products will post 6.59 earnings per share for the current fiscal year.

In other Installed Building Products news, Director Lawrence A. Hilsheimer purchased 513 shares of the stock in a transaction dated Monday, February 28th. The shares were bought at an average cost of $97.30 per share, with a total value of $49,914.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 17.90% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in IBP. Findlay Park Partners LLP grew its holdings in Installed Building Products by 54.4% during the fourth quarter. Findlay Park Partners LLP now owns 1,861,126 shares of the construction company’s stock worth $260,037,000 after acquiring an additional 655,406 shares during the period. Credit Suisse AG boosted its position in shares of 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 valued at $71,135,000 after purchasing an additional 629,092 shares during the period. Norges Bank acquired a new position in shares of Installed Building Products in the 4th quarter valued at $21,034,000. Goldman Sachs Group Inc. boosted its position in shares of 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 valued at $67,728,000 after purchasing an additional 121,055 shares during the period. Finally, Capital Research Global Investors boosted its position in shares of 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 valued at $20,290,000 after purchasing an additional 100,000 shares during the period. 98.94% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Company Profile (Get Rating)

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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