Wells Fargo Keeps Their Hold Rating on Installed Building Products (IBP)

Wells Fargo analyst Sam Reid maintained a Hold rating on Installed Building Products today and set a price target of $275.00.

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According to TipRanks, Reid is a 4-star analyst with an average return of 5.7% and a 59.86% success rate. Reid covers the Consumer Cyclical sector, focusing on stocks such as DR Horton, Mohawk, and Toll Brothers.

In addition to Wells Fargo, Installed Building Products also received a Hold from Jefferies’s Philip Ng in a report issued yesterday. However, on December 9, TR | OpenAI – 4o reiterated a Buy rating on Installed Building Products (NYSE: IBP).

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.