Installed Building Products (NYSE:IBP) Stock Gets Price Target Boost from Truist Financial

Key Points

• Truist raised its price target on Installed Building Products from $160 to $180 but maintained a Hold rating; the target implies 18.79% downside from the share price cited in the report.
• Analyst sentiment remains cautious: MarketBeat reports a consensus Hold rating from 14 analysts, with an average price target of $231.08.
• The company’s latest quarterly results were mixed: EPS of $2.76 missed estimates of $2.83, while revenue of $808.4 million beat estimates and rose 3.9% year over year.

Installed Building Products (NYSE:IBP - Get Free Report) had its price objective raised by equities researchers at Truist Financial from $160.00 to $180.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "hold" rating on the construction company's stock. Truist Financial's price objective would indicate a potential downside of 18.79% from the company's current price.

A number of other research firms have also recently weighed in on IBP. Wall Street Zen cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Sunday, September 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Zacks Research cut Installed Building Products from a "strong-buy" rating to a "hold" rating in a report on Monday, October 12th. Evercore set a $222.00 price objective on Installed Building Products in a research report on Friday, September 25th. Finally, Royal Bank Of Canada dropped their price objective on Installed Building Products from $228.00 to $208.00 and set a "sector perform" rating for the company in a research note on Wednesday, October 7th. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $231.08.

Installed Building Products Stock Performance

NYSE IBP traded down $1.44 on Friday, reaching $221.64. 103,012 shares of the stock were exchanged, compared to its average volume of 402,930. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. Installed Building Products has a one year low of $176.15 and a one year high of $349.00. The firm has a market capitalization of $5.89 billion, a PE ratio of 23.83, a PEG ratio of 9.36 and a beta of 1.65. The company's 50-day simple moving average is $204.99 and its two-hundred day simple moving average is $245.78.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $808.40 million during the quarter, compared to the consensus estimate of $787.70 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.18 earnings per share. Analysts expect that Installed Building Products will post 9.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the business's 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 sale, the director owned 5,142 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Installed Building Products

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in Installed Building Products by 82.6% during the 3rd 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 raised its position in Installed Building Products by 5.3% in 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 period. Maryland State Retirement & Pension System raised its position in Installed Building Products by 54.7% in 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 period. Jacobi Capital Management LLC bought a new stake in Installed Building Products in the third quarter worth about $75,000. Finally, Illinois Municipal Retirement Fund lifted its stake in Installed Building Products by 10.0% in the third quarter. Illinois Municipal Retirement Fund now owns 30,405 shares of the construction company's stock worth $5,834,000 after purchasing an additional 2,774 shares during the last quarter. 99.61% of the stock is 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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