DA Davidson Has Bearish Forecast for IBP FY2024 Earnings

Installed Building Products, Inc. (NYSE:IBP) – Equities research analysts at DA Davidson cut their FY2024 earnings per share estimates for shares of Installed Building Products in a research report issued to clients and investors on Friday, November 8th. DA Davidson analyst K. Yinger now anticipates that the construction company will post earnings of $10.81 per share for the year, down from their previous forecast of $10.95. DA Davidson has a “Buy” rating and a $260.00 price objective on the stock. The consensus estimate for Installed Building Products’ current full-year earnings is $10.97 per share. DA Davidson also issued estimates for Installed Building Products’ Q4 2024 earnings at $2.81 EPS and FY2025 earnings at $11.72 EPS.

Several other equities analysts also recently weighed in on the company. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price objective for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Stephens reiterated an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Jefferies Financial Group boosted their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI boosted their target price on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $252.30.

Installed Building Products Stock Performance

NYSE IBP opened at $207.65 on Monday. The company has a market cap of $5.86 billion, a P/E ratio of 23.07 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.59. The stock has a 50-day moving average of $230.84 and a two-hundred day moving average of $224.77. Installed Building Products has a 1-year low of $124.01 and a 1-year high of $281.04.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.56%.

Institutional Investors Weigh In On Installed Building Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Installed Building Products in the first quarter valued at approximately $29,000. Concurrent Investment Advisors LLC acquired a new position in shares of Installed Building Products in the first quarter valued at approximately $564,000. Headlands Technologies LLC acquired a new position in shares of Installed Building Products in the first quarter valued at approximately $68,000. Russell Investments Group Ltd. increased its holdings in shares of Installed Building Products by 13,898.5% in the first quarter. Russell Investments Group Ltd. now owns 19,178 shares of the construction company’s stock valued at $4,962,000 after purchasing an additional 19,041 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Installed Building Products by 7.4% in the first quarter. ProShare Advisors LLC now owns 4,775 shares of the construction company’s stock valued at $1,235,000 after purchasing an additional 327 shares during the period. Hedge funds and other institutional investors own 99.61% 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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.