Installed Building Products (NYSE:IBP) Given New $257.00 Price Target at The Goldman Sachs Group

Key Points

• Goldman Sachs cut Installed Building Products’ price target to $257 from $297 but maintained a “buy” rating, implying roughly 37% upside from the reported $187.47 share price.
• Analyst sentiment is more cautious overall: IBP has a consensus “hold” rating and an average price target of $234.50, with most analysts maintaining hold recommendations.
• The company recently exceeded quarterly expectations, reporting $2.91 in adjusted EPS versus a $2.55 consensus estimate and revenue of $777.8 million, up 2.3% year over year.

Installed Building Products (NYSE:IBP - Get Free Report) had its price target reduced by analysts at The Goldman Sachs Group from $297.00 to $257.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. The Goldman Sachs Group's price objective suggests a potential upside of 37.09% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Evercore set a $222.00 target price on Installed Building Products in a research report on Friday, September 25th. Royal Bank Of Canada reduced their target price on Installed Building Products from $228.00 to $208.00 and set a "sector perform" rating on the stock in a research report on Wednesday, October 7th. Truist Financial decreased their price target on Installed Building Products from $200.00 to $160.00 and set a "hold" rating on the stock in a research note on Thursday. Finally, Melius Research began coverage on Installed Building Products in a report on Tuesday, October 6th. They issued a "hold" rating and a $217.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $234.50.

Installed Building Products Price Performance

IBP stock traded up $2.03 during trading on Monday, reaching $187.47. 142,280 shares of the company were exchanged, compared to its average volume of 401,578. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The stock's 50 day moving average price is $221.06 and its 200 day moving average price is $232.60. Installed Building Products has a 52-week low of $178.54 and a 52-week high of $349.00. The company has a market cap of $4.98 billion, a P/E ratio of 20.14, a PEG ratio of 8.26 and a beta of 1.71.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.55 by $0.36. The business had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.95 EPS. As a group, analysts predict that Installed Building Products will post 9.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 13.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IBP. Reinhart Partners LLC. purchased a new stake in Installed Building Products in the 3rd quarter worth about $87,114,000. Monument Capital Management grew its stake in Installed Building Products by 26.9% during the 3rd quarter. Monument Capital Management now owns 1,445 shares of the construction company's stock valued at $277,000 after acquiring an additional 306 shares in the last quarter. GAMMA Investing LLC grew its stake in Installed Building Products by 5.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,465 shares of the construction company's stock valued at $281,000 after acquiring an additional 78 shares in the last quarter. Argent Capital Management LLC grew its stake in Installed Building Products by 85.0% during the 3rd quarter. Argent Capital Management LLC now owns 1,833 shares of the construction company's stock valued at $352,000 after acquiring an additional 842 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its stake in shares of Installed Building Products by 11.7% during the 2nd quarter. Anchor Investment Management LLC now owns 1,340 shares of the construction company's stock valued at $308,000 after buying an additional 140 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-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.

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