Installed Building Products (NYSE:IBP) Given New $260.00 Price Target at The Goldman Sachs Group

Installed Building Products (NYSE:IBPFree Report) had its price objective lowered by The Goldman Sachs Group from $300.00 to $260.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the construction company’s stock.

Several other analysts have also commented on IBP. Benchmark raised their price objective on Installed Building Products from $250.00 to $270.00 and gave the company a buy rating in a report on Tuesday, May 14th. Evercore ISI raised their price objective on Installed Building Products from $226.00 to $272.00 and gave the company an outperform rating in a report on Tuesday, April 2nd. Royal Bank of Canada raised their price objective on Installed Building Products from $216.00 to $220.00 and gave the company a sector perform rating in a report on Friday, May 10th. JPMorgan Chase & Co. dropped their price objective on Installed Building Products from $242.00 to $227.00 and set a neutral rating on the stock in a report on Monday, May 13th. Finally, Loop Capital raised their price objective on Installed Building Products from $250.00 to $270.00 and gave the company a buy rating in a report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $233.70.

Check Out Our Latest Research Report on IBP

Installed Building Products Stock Up 3.1 %

Installed Building Products stock opened at $210.30 on Wednesday. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 23.79 and a beta of 1.93. Installed Building Products has a 52 week low of $106.01 and a 52 week high of $263.76. The business’s 50-day moving average price is $213.84 and its 200 day moving average price is $217.23. The company has a quick ratio of 2.67, a current ratio of 3.18 and a debt-to-equity ratio of 1.25.

Installed Building Products (NYSE:IBPGet Free Report) last posted its earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.08 by $0.29. The firm had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. As a group, sell-side analysts anticipate that Installed Building Products will post 11.2 earnings per share for the current year.

Installed Building Products Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th were given a $0.35 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.40 annualized dividend and a dividend yield of 0.67%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Insider Activity

In other news, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $229.84, for a total value of $1,379,040.00. Following the transaction, the insider now owns 13,159 shares in the company, valued at $3,024,464.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Janet E. Jackson sold 2,122 shares of Installed Building Products stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $211.65, for a total transaction of $449,121.30. Following the transaction, the director now owns 7,046 shares in the company, valued at $1,491,285.90. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $229.84, for a total value of $1,379,040.00. Following the transaction, the insider now owns 13,159 shares in the company, valued at approximately $3,024,464.56. The disclosure for this sale can be found here. Company insiders own 16.50% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

A number of institutional investors have recently added to or reduced their stakes in IBP. NBC Securities Inc. acquired a new stake in Installed Building Products during the fourth quarter worth $25,000. Russell Investments Group Ltd. increased its stake in Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Hexagon Capital Partners LLC increased its stake in Installed Building Products by 253.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after acquiring an additional 104 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Installed Building Products during the first quarter worth $29,000. Finally, Annapolis Financial Services LLC increased its stake in Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Company Profile

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Installed Building Products (NYSE:IBP)

Receive News & Ratings for Installed Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products and related companies with MarketBeat.com's FREE daily email newsletter.