Jefferies Financial Group Raises Installed Building Products (NYSE:IBP) Price Target to $252.00

Installed Building Products (NYSE:IBP) had its price objective raised by analysts at Jefferies Financial Group from $240.00 to $252.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the construction company’s stock. Jefferies Financial Group’s price target points to a potential upside of 5.02% from the stock’s current price.

Several other analysts also recently issued reports on IBP. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Evercore ISI boosted their price target on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Stephens reaffirmed an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. The Goldman Sachs Group boosted their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Truist Financial raised their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $255.40.

Installed Building Products Price Performance

Installed Building Products stock traded down $1.12 during mid-day trading on Wednesday, hitting $239.96. The company’s stock had a trading volume of 172,433 shares, compared to its average volume of 290,918. The stock has a market capitalization of $6.83 billion, a P/E ratio of 27.14 and a beta of 1.94. Installed Building Products has a twelve month low of $106.01 and a twelve month high of $281.04. The stock’s fifty day moving average price is $225.58 and its two-hundred day moving average price is $227.11. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.13. The business had revenue of $737.60 million during the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. Research analysts forecast that Installed Building Products will post 11.06 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Swedbank AB acquired a new position in shares of Installed Building Products during the 1st quarter worth about $96,248,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after buying an additional 183,696 shares during the period. Millennium Management LLC increased its position in shares of Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after acquiring an additional 114,259 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Installed Building Products by 2,912.0% during the second quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock worth $15,488,000 after acquiring an additional 72,800 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in Installed Building Products in the 1st quarter valued at $17,806,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Company Profile

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.