Installed Building Products (NYSE:IBP) had its price target hoisted by Deutsche Bank from $47.00 to $55.00 in a research note issued to investors on Monday, May 6th, The Fly reports. Deutsche Bank currently has a positive rating on the construction company’s stock.
IBP has been the subject of several other research reports. SunTrust Banks cut shares of Installed Building Products from a buy rating to a hold rating in a research note on Tuesday, January 15th. Jefferies Financial Group cut shares of Installed Building Products from a buy rating to a hold rating and dropped their target price for the company from $48.00 to $40.00 in a research report on Wednesday, January 16th. Royal Bank of Canada set a $50.00 price target on shares of Installed Building Products and gave the company a hold rating in a report on Friday, May 3rd. ValuEngine raised shares of Installed Building Products from a sell rating to a hold rating in a report on Monday, April 1st. Finally, Zacks Investment Research lowered shares of Installed Building Products from a hold rating to a sell rating in a report on Thursday, February 21st. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $47.87.
Shares of IBP traded up $0.12 during midday trading on Monday, reaching $52.13. The stock had a trading volume of 102,100 shares, compared to its average volume of 201,896. Installed Building Products has a one year low of $29.24 and a one year high of $65.85. The company has a market cap of $1.59 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. The company has a debt-to-equity ratio of 2.44, a current ratio of 2.24 and a quick ratio of 1.91.
In other news, Director Michael H. Thomas sold 2,648 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $54.03, for a total value of $143,071.44. Following the completion of the sale, the director now owns 11,102 shares in the company, valued at approximately $599,841.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Jay P. Elliott sold 14,500 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $54.57, for a total transaction of $791,265.00. Following the completion of the sale, the chief operating officer now owns 45,529 shares of the company’s stock, valued at approximately $2,484,517.53. The disclosure for this sale can be found here. Insiders have sold a total of 320,648 shares of company stock worth $14,572,038 in the last quarter. 25.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. bought a new position in Installed Building Products during the first quarter valued at about $151,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Installed Building Products by 15.6% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,253 shares of the construction company’s stock worth $303,000 after purchasing an additional 842 shares during the period. Oxford Asset Management LLP bought a new position in Installed Building Products during the first quarter worth about $3,859,000. Ellington Management Group LLC bought a new position in Installed Building Products during the first quarter worth about $456,000. Finally, Hsbc Holdings PLC bought a new position in Installed Building Products during the first quarter worth about $389,000. Institutional investors own 70.21% 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 continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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