DA Davidson Has Lowered Expectations for Installed Building Products (NYSE:IBP) Stock Price

Key Points

• DA Davidson cut its price target on Installed Building Products from $250 to $244 and maintained a neutral rating; the new target implies 7.71% upside from the prior close.
• Analyst sentiment is broadly cautious: MarketBeat reports an average “Hold” rating and $229.83 average price target, with 12 of 14 analysts rating the stock Hold.
• IBP’s latest quarter showed mixed results: EPS of $2.76 missed estimates of $2.83, while revenue of $808.4 million topped forecasts and rose 3.9% year over year.

Installed Building Products (NYSE:IBP - Get Free Report) had its price target dropped by equities researchers at DA Davidson from $250.00 to $244.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the construction company's stock. DA Davidson's price target points to a potential upside of 7.71% from the company's previous close.

Several other research firms also recently weighed in on IBP. Stifel Nicolaus downgraded Installed Building Products from a "buy" rating to a "hold" rating and raised their price objective for the company from $220.00 to $225.00 in a report on Monday. Evercore set a $222.00 target price on Installed Building Products in a research report on Friday, September 25th. Wells Fargo & Company reduced their price target on Installed Building Products from $240.00 to $195.00 and set an "equal weight" rating on the stock in a report on Friday, October 16th. Zacks Research downgraded Installed Building Products from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 12th. Finally, Wall Street Zen lowered shares of Installed Building Products from a "buy" rating to a "hold" rating in a report on Sunday, September 27th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Installed Building Products currently has an average rating of "Hold" and an average price target of $229.83.

Installed Building Products Price Performance

Shares of IBP traded up $6.46 during mid-day trading on Monday, reaching $226.53. The company had a trading volume of 162,774 shares, compared to its average volume of 402,961. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 8.75 and a beta of 1.65. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.54 and a current ratio of 3.12. The company's 50 day simple moving average is $204.57 and its 200 day simple moving average is $245.38. Installed Building Products has a 1-year low of $176.15 and a 1-year high of $349.00.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The construction company reported $2.76 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.07). The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $787.70 million. Installed Building Products had a net margin of 7.87% and a return on equity of 39.86%. Installed Building Products's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.18 EPS. Analysts expect that Installed Building Products will post 9.75 EPS for the current year.

Insider Buying and Selling

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the completion of the sale, the director owned 5,142 shares of the company's stock, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Installed Building Products

Several large investors have recently modified their holdings of IBP. Commonwealth Equity Services LLC raised its position in shares of Installed Building Products by 1.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,192 shares of the construction company's stock valued at $613,000 after buying an additional 47 shares in the last quarter. Lazard Asset Management LLC grew its position in Installed Building Products by 5.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,070 shares of the construction company's stock valued at $284,000 after buying an additional 51 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Installed Building Products by 5.0% in the third quarter. Apollon Wealth Management LLC now owns 1,101 shares of the construction company's stock valued at $211,000 after acquiring an additional 52 shares in the last quarter. Covestor Ltd raised its stake in shares of Installed Building Products by 47.6% during the 3rd quarter. Covestor Ltd now owns 186 shares of the construction company's stock worth $36,000 after buying an additional 60 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its position in Installed Building Products by 2.6% in the first quarter. Glenmede Trust Co. NA now owns 2,537 shares of the construction company's stock worth $673,000 after acquiring an additional 64 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Company Profile

Installed Building Products, Inc is a U.S. building-products installation company headquartered in Columbus, Ohio. Founded in 1977, the company serves residential builders, commercial contractors, and homeowners through a network of local operating businesses across the United States.

The company's core business is installing insulation in new construction and existing buildings. Its offerings include fiberglass, cellulose, and spray-foam insulation, along with related weatherization services.

Installed Building Products also installs complementary products such as garage doors, rain gutters, shower doors, and closet shelving.

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