Installed Building Products (NYSE:IBP) Given New $194.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered its price target on Installed Building Products from $208 to $194 and maintained a “sector perform” rating, implying 12.57% downside from the cited share price.
• Analyst sentiment is broadly neutral: MarketBeat reports a consensus “Hold” rating and an average price target of $229.92, with 11 Hold, two Buy, and one Sell rating.
• In its latest quarter, the company beat revenue expectations with $808.4 million, up 3.9% year over year, but missed earnings-per-share estimates ($2.76 versus $2.83 expected).

Installed Building Products (NYSE:IBP - Get Free Report) had its price objective dropped by Royal Bank Of Canada from $208.00 to $194.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a "sector perform" rating on the construction company's stock. Royal Bank Of Canada's price target points to a potential downside of 12.57% from the company's current price.

A number of other research firms also recently commented on IBP. The Goldman Sachs Group restated a "buy" rating and set a $261.00 price target on shares of Installed Building Products in a research report on Friday. DA Davidson increased their price objective on shares of Installed Building Products from $242.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Evercore set a $222.00 price objective on shares of Installed Building Products in a research note on Friday, September 25th. Stifel Nicolaus lowered their price objective on shares of Installed Building Products from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, October 26th. Finally, Melius Research began coverage on Installed Building Products in a report on Tuesday, October 6th. They set a "hold" rating and a $217.00 target price on the stock. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $229.92.

Installed Building Products Stock Performance

Shares of NYSE:IBP traded down $1.18 on Friday, hitting $221.90. The company's stock had a trading volume of 109,231 shares, compared to its average volume of 402,960. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 9.36 and a beta of 1.65. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. Installed Building Products has a 12 month low of $176.15 and a 12 month high of $349.00. The stock's 50-day moving average is $204.99 and its two-hundred day moving average is $245.78.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The construction company reported $2.76 earnings per share for the quarter, missing analysts' consensus estimates of $2.83 by ($0.07). The company had revenue of $808.40 million for the quarter, compared to the consensus estimate of $787.70 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. Installed Building Products's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.18 earnings per share. On average, equities research analysts forecast that Installed Building Products will post 9.75 EPS for the current year.

Insider Buying and Selling at Installed Building Products

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

Institutional Trading of Installed Building Products

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its position in shares of Installed Building Products by 82.6% in the third quarter. Russell Investments Group Ltd. now owns 42,222 shares of the construction company's stock valued at $8,102,000 after purchasing an additional 19,104 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Installed Building Products by 5.3% during the 3rd quarter. Fifth Third Bancorp now owns 10,679 shares of the construction company's stock worth $2,049,000 after purchasing an additional 540 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Installed Building Products by 54.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 5,081 shares of the construction company's stock worth $975,000 after purchasing an additional 1,797 shares during the last quarter. Jacobi Capital Management LLC bought a new stake in Installed Building Products during the 3rd quarter valued at approximately $75,000. Finally, Illinois Municipal Retirement Fund boosted its stake in Installed Building Products by 10.0% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 30,405 shares of the construction company's stock valued at $5,834,000 after purchasing an additional 2,774 shares during the period. 99.61% of the stock is currently owned by institutional investors.

About Installed Building Products

Installed Building Products, Inc NYSE: IBP is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.

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