SunTrust Banks Raises Installed Building Products (NYSE:IBP) Price Target to $71.00

Installed Building Products (NYSE:IBP) had its price target lifted by SunTrust Banks to $71.00 in a report published on Monday, The Fly reports. SunTrust Banks currently has a hold rating on the construction company’s stock.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Installed Building Products from a buy rating to a hold rating in a report on Thursday, August 15th. Nomura boosted their price objective on Installed Building Products from $50.00 to $52.00 and gave the company a neutral rating in a research report on Friday, August 9th. Finally, ValuEngine upgraded Installed Building Products from a sell rating to a hold rating in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $58.18.

NYSE:IBP opened at $69.19 on Monday. Installed Building Products has a twelve month low of $30.54 and a twelve month high of $76.60. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.51 and a beta of 1.17. The stock has a fifty day simple moving average of $62.41 and a 200-day simple moving average of $56.59. The company has a current ratio of 2.69, a quick ratio of 1.85 and a debt-to-equity ratio of 2.52.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Friday, November 1st. The construction company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.86 by $0.13. Installed Building Products had a return on equity of 45.94% and a net margin of 4.47%. The firm had revenue of $396.40 million for the quarter, compared to analyst estimates of $385.46 million. During the same quarter last year, the firm posted $0.72 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts predict that Installed Building Products will post 2.97 EPS for the current fiscal year.

In other Installed Building Products news, insider William Jeffrey Hire sold 8,000 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $56.00, for a total transaction of $448,000.00. Following the completion of the sale, the insider now owns 34,516 shares of the company’s stock, valued at $1,932,896. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vikas Verma sold 10,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $60.00, for a total value of $600,000.00. Following the transaction, the director now owns 151,935 shares in the company, valued at approximately $9,116,100. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,000 shares of company stock valued at $3,116,160. 25.20% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in IBP. Comerica Bank grew its holdings in Installed Building Products by 0.8% in the 3rd quarter. Comerica Bank now owns 20,298 shares of the construction company’s stock worth $1,305,000 after buying an additional 156 shares in the last quarter. Mason Street Advisors LLC increased its position in Installed Building Products by 3.2% during the third quarter. Mason Street Advisors LLC now owns 7,237 shares of the construction company’s stock worth $415,000 after buying an additional 224 shares during the last quarter. Texas Permanent School Fund increased its position in Installed Building Products by 1.7% during the third quarter. Texas Permanent School Fund now owns 14,506 shares of the construction company’s stock worth $832,000 after buying an additional 248 shares during the last quarter. Arizona State Retirement System boosted its holdings in Installed Building Products by 0.9% during the second quarter. Arizona State Retirement System now owns 32,589 shares of the construction company’s stock valued at $1,930,000 after acquiring an additional 284 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in Installed Building Products by 0.8% during the second quarter. Prudential Financial Inc. now owns 34,174 shares of the construction company’s stock valued at $2,024,000 after acquiring an additional 288 shares during the period. Institutional investors and hedge funds own 68.60% 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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The Fly

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