Wells Fargo & Company Lowers Installed Building Products (NYSE:IBP) Price Target to $285.00

Installed Building Products (NYSE:IBP) had its price target reduced by Wells Fargo & Company from $340.00 to $285.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the construction company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 0.13% from the company’s current price.

A number of other brokerages have also recently issued reports on IBP. Weiss Ratings cut shares of Installed Building Products from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 20th. Vertical Research upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 target price on the stock in a research note on Friday, February 27th. Royal Bank Of Canada raised their price target on shares of Installed Building Products from $203.00 to $255.00 and gave the company an “underperform” rating in a report on Friday, February 27th. DA Davidson raised their price target on shares of Installed Building Products from $252.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $245.00 price target on shares of Installed Building Products in a report on Tuesday, January 13th. Ten equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $259.70.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $285.36 on Wednesday. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 3.90 and a beta of 1.97. The firm’s 50-day moving average is $298.88 and its 200 day moving average is $277.31. Installed Building Products has a 1 year low of $150.83 and a 1 year high of $349.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.03 and a quick ratio of 2.44.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.41. The company had revenue of $747.50 million for the quarter, compared to analysts’ expectations of $738.97 million. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. Installed Building Products’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.88 EPS. Sell-side analysts anticipate that Installed Building Products will post 10.66 EPS for the current fiscal year.

Insider Transactions at Installed Building Products

In other news, CEO Jeffrey W. Edwards sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the sale, the chief executive officer owned 1,727,819 shares of the company’s stock, valued at $542,638,835.14. This trade represents a 18.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Janet E. Jackson sold 1,410 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $293.31, for a total transaction of $413,567.10. Following the sale, the director directly owned 5,373 shares in the company, valued at approximately $1,575,954.63. The trade was a 20.79% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Institutional investors have recently made changes to their positions in the business. Danske Bank A S bought a new position in shares of Installed Building Products in the 3rd quarter worth approximately $25,000. NewEdge Advisors LLC lifted its stake in shares of Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after purchasing an additional 100 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Installed Building Products in the 3rd quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after purchasing an additional 133 shares during the period. Finally, Eagle Bay Advisors LLC bought a new position in shares of Installed Building Products in the 4th quarter worth approximately $43,000. Institutional investors own 99.61% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.