Jefferies Sticks to Their Hold Rating for Installed Building Products (IBP)

In a report released today, Philip Ng from Jefferies maintained a Hold rating on Installed Building Products, with a price target of $259.00.

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According to TipRanks, Ng is a 5-star analyst with an average return of 10.5% and a 57.41% success rate. Ng covers the Consumer Cyclical sector, focusing on stocks such as Crown Holdings, International Paper Co, and Sealed Air.

Currently, the analyst consensus on Installed Building Products is a Hold with an average price target of $243.89.

Based on Installed Building Products’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $778.2 million and a net profit of $74.4 million. In comparison, last year the company earned a revenue of $760.6 million and had a net profit of $68.6 million

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of IBP in relation to earlier this year. Earlier this month, Michael H Thomas, a Director at IBP sold 2,001.00 shares for a total of $536,828.28.