Installed Building Products, Inc. (NYSE:IBP) Receives Average Rating of “Moderate Buy” from Brokerages

Installed Building Products, Inc. (NYSE:IBP) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $203.80.

Several research analysts have commented on IBP shares. JPMorgan Chase & Co. downgraded Installed Building Products from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $199.00 to $242.00 in a research report on Wednesday, February 28th. DA Davidson began coverage on shares of Installed Building Products in a research report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 price target on the stock. Truist Financial upped their price objective on shares of Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research report on Friday, February 23rd. Evercore ISI boosted their price target on Installed Building Products from $165.00 to $226.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Loop Capital upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday, January 8th.

Installed Building Products Trading Up 0.3 %

Shares of IBP stock opened at $258.00 on Monday. Installed Building Products has a 12 month low of $103.50 and a 12 month high of $260.17. The company has a market cap of $7.32 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.58 and a beta of 1.89. The company has a quick ratio of 2.62, a current ratio of 3.09 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average is $216.38 and its two-hundred day moving average is $168.91.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.42 by $0.03. The firm had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.34 EPS. Equities analysts predict that Installed Building Products will post 11.25 EPS for the current year.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 31st. Shareholders of record on Friday, March 15th will be given a $1.60 dividend. The ex-dividend date is Thursday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 dividend on an annualized basis and a yield of 2.48%. Installed Building Products’s payout ratio is 16.26%.

Insider Transactions at Installed Building Products

In other news, CFO Michael Thomas Miller sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $243.34, for a total value of $1,216,700.00. Following the transaction, the chief financial officer now directly owns 38,320 shares of the company’s stock, valued at approximately $9,324,788.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the transaction, the chief financial officer now owns 38,320 shares in the company, valued at approximately $9,324,788.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,619 shares of company stock valued at $1,606,732. Corporate insiders own 17.30% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in IBP. Annapolis Financial Services LLC increased its stake in shares of Installed Building Products by 45.7% in the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after acquiring an additional 53 shares during the last quarter. Quarry LP increased its position in shares of Installed Building Products by 37.5% in the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after buying an additional 57 shares in the last quarter. Shaker Investments LLC OH raised its position in shares of Installed Building Products by 0.6% during the fourth quarter. Shaker Investments LLC OH now owns 10,665 shares of the construction company’s stock worth $1,950,000 after purchasing an additional 66 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Installed Building Products by 2.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 4,144 shares of the construction company’s stock valued at $758,000 after purchasing an additional 93 shares during the period. Finally, Captrust Financial Advisors increased its stake in Installed Building Products by 2.0% during the 2nd quarter. Captrust Financial Advisors now owns 4,913 shares of the construction company’s stock worth $689,000 after purchasing an additional 97 shares in the last quarter. Institutional investors own 82.62% of the company’s stock.

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.