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

Shares of Installed Building Products, Inc. (NYSE:IBP) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $229.30.

Several brokerages have issued reports on IBP. Benchmark boosted their target price on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, May 14th. Royal Bank of Canada increased their target price on Installed Building Products from $216.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Friday, May 10th. DA Davidson started coverage on shares of Installed Building Products in a research note on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price for the company. Loop Capital upped their price target on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, Evercore ISI lifted their price objective on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a report on Tuesday, April 2nd.

Insider Activity

In related news, insider Jason R. Niswonger sold 6,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the completion of the sale, the insider now directly owns 13,159 shares in the company, valued at approximately $3,024,464.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Janet E. Jackson sold 2,122 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $211.65, for a total transaction of $449,121.30. Following the transaction, the director now directly owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the sale, the insider now directly owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The disclosure for this sale can be found here. Company insiders own 16.50% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of Installed Building Products during the first quarter worth about $96,248,000. Channing Capital Management LLC purchased a new stake in Installed Building Products during the 4th quarter worth approximately $58,696,000. Norges Bank acquired a new position in Installed Building Products during the 4th quarter valued at approximately $37,583,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Installed Building Products by 1,328.2% in the first 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, Public Employees Retirement Association of Colorado lifted its stake in shares of Installed Building Products by 3,919.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock worth $26,093,000 after buying an additional 139,172 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE:IBP opened at $198.81 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.67 and a current ratio of 3.18. The stock’s fifty day moving average is $218.03 and its 200 day moving average is $216.62. The firm has a market capitalization of $5.66 billion, a PE ratio of 22.49 and a beta of 1.93. Installed Building Products has a fifty-two week low of $106.01 and a fifty-two week high of $263.76.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.29. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The business had revenue of $692.90 million for the quarter, compared to the consensus estimate of $676.60 million. On average, sell-side analysts anticipate that Installed Building Products will post 11.2 earnings per share for the current year.

Installed Building Products Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 30th. Shareholders of record on Saturday, June 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.40 annualized dividend and a yield of 0.70%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

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.