Brokerages Set Installed Building Products, Inc. (NYSE:IBP) Price Target at $255.40

Shares of Installed Building Products, Inc. (NYSE:IBP) have earned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $255.40.

Several brokerages have recently commented on IBP. Evercore ISI boosted their target price on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Jefferies Financial Group raised their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada raised their price target on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Truist Financial lifted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, Stephens restated an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a report on Monday, August 5th.

Installed Building Products Stock Up 2.0 %

IBP opened at $238.67 on Friday. Installed Building Products has a 1-year low of $106.01 and a 1-year high of $281.04. The business has a 50 day moving average of $225.08 and a 200-day moving average of $226.93. The stock has a market capitalization of $6.79 billion, a price-to-earnings ratio of 27.00 and a beta of 1.94. The company has a current ratio of 3.08, a quick ratio of 2.59 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, beating the consensus estimate of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The company had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. As a group, sell-side analysts anticipate that Installed Building Products will post 11.06 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Sunday, September 15th were given a $0.35 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.40 annualized dividend and a yield of 0.59%. Installed Building Products’s dividend payout ratio is currently 15.84%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after acquiring an additional 18,890 shares in the last quarter. Swedbank AB increased its stake in Installed Building Products by 11.6% in the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after buying an additional 43,000 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Installed Building Products by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after buying an additional 4,943 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Installed Building Products by 1,328.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after buying an additional 183,696 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after buying an additional 114,259 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

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.