Installed Building Products (NYSE:IBP) Earns Hold Rating from Jefferies Financial Group

Key Points

• Jefferies Financial Group raised its price target for Installed Building Products (NYSE:IBP) from $175.00 to $225.00, suggesting a potential downside of 14.48% from its previous close.
• The stock has a consensus rating of “Hold”, with varying target prices from multiple analysts range between $184.00 to $252.00.
• Installed Building Products reported a EPS of $2.95 for the last quarter, exceeding expectations, along with a revenue increase of 3.1% year-over-year.

Installed Building Products (NYSE:IBP - Get Free Report)'s stock had its "hold" rating reiterated by equities researchers at Jefferies Financial Group in a research report issued to clients and investors on Tuesday, MarketBeat reports. They presently have a $225.00 target price on the construction company's stock, up from their previous target price of $175.00. Jefferies Financial Group's price objective points to a potential downside of 16.02% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the company. DA Davidson restated a "neutral" rating and set a $252.00 price objective (up previously from $225.00) on shares of Installed Building Products in a report on Tuesday. Benchmark lowered their price objective on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Royal Bank Of Canada restated an "underperform" rating and set a $184.00 price objective (up from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Loop Capital downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price objective for the company. in a research report on Friday, August 8th. Finally, Danske downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 price target for the company. in a report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Installed Building Products presently has an average rating of "Hold" and a consensus price target of $217.36.

Installed Building Products Price Performance

NYSE:IBP opened at $267.93 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The stock's 50-day simple moving average is $199.54 and its 200 day simple moving average is $180.31. The company has a market cap of $7.32 billion, a P/E ratio of 29.80 and a beta of 1.73. Installed Building Products has a 52-week low of $150.83 and a 52-week high of $275.76.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, topping analysts' consensus estimates of $2.45 by $0.50. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%. The business had revenue of $760.30 million during the quarter, compared to analysts' expectations of $711.37 million. During the same quarter last year, the company posted $2.84 earnings per share. Installed Building Products's quarterly revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts forecast that Installed Building Products will post 10.66 EPS for the current fiscal year.

Insider Transactions at Installed Building Products

In other news, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the transaction, the insider owned 37,999 shares of the company's stock, valued at $10,096,714.29. This represents a 14.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the transaction, the chief accounting officer directly owned 6,822 shares in the company, valued at approximately $1,755,095.94. The trade was a 6.83% decrease in their position. The disclosure for this sale can be found here. 16.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Installed Building Products

Several large investors have recently added to or reduced their stakes in IBP. Envestnet Asset Management Inc. increased its stake in Installed Building Products by 7.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 93,603 shares of the construction company's stock valued at $16,404,000 after buying an additional 6,804 shares during the last quarter. Bank of Montreal Can grew its stake in Installed Building Products by 12.7% in the 4th quarter. Bank of Montreal Can now owns 4,398 shares of the construction company's stock valued at $771,000 after buying an additional 496 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Installed Building Products by 365.3% in the 4th quarter. Renaissance Technologies LLC now owns 22,800 shares of the construction company's stock valued at $3,996,000 after purchasing an additional 17,900 shares during the period. Raymond James Financial Inc. bought a new position in Installed Building Products in the 4th quarter valued at $23,776,000. Finally, Townsquare Capital LLC boosted its holdings in Installed Building Products by 40.5% in the 4th quarter. Townsquare Capital LLC now owns 1,406 shares of the construction company's stock valued at $246,000 after purchasing an additional 405 shares during the period. Institutional investors own 99.61% of the company's stock.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.