Installed Building Products, Inc. (NYSE:IBP) Stock Has Consensus Price Target of $245.36 According to Analysts

Installed Building Products, Inc. (NYSE:IBP) has received a consensus rating of “Hold” from the fourteen analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $236.83.

A number of research firms have weighed in on IBP. Wells Fargo & Company cut their target price on Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a research report on Friday, September 11th. Stifel Nicolaus began coverage on Installed Building Products in a research note on Monday, September 14th. They set a “buy” rating and a $240.00 price target for the company. Zacks Research upgraded Installed Building Products from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 1st. Evercore set a $222.00 price objective on Installed Building Products in a research note on Friday, September 25th. Finally, Wall Street Zen lowered Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, September 27th.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the sale, the director directly owned 5,142 shares in the company, valued at approximately $1,218,962.52. The trade was a 17.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Installed Building Products

Several large investors have recently made changes to their positions in IBP. BlackRock Inc. bought a new stake in shares of Installed Building Products in the 2nd quarter worth approximately $1,055,034,000. Giverny Capital Inc. grew its position in Installed Building Products by 0.9% in the fourth quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock worth $134,685,000 after buying an additional 4,500 shares during the last quarter. Reinhart Partners LLC. acquired a new position in Installed Building Products in the third quarter worth approximately $87,114,000. Goldman Sachs Group Inc. increased its holdings in shares of Installed Building Products by 52.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after buying an additional 122,561 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Installed Building Products by 51.8% in the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock valued at $79,208,000 after buying an additional 101,967 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Down 1.4%

IBP stock opened at $185.26 on Tuesday. Installed Building Products has a 52 week low of $178.54 and a 52 week high of $349.00. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 3.45 and a beta of 1.71. The firm’s 50-day moving average is $221.06 and its two-hundred day moving average is $232.85. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. During the same period last year, the firm posted $2.95 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, analysts forecast that Installed Building Products will post 9.89 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Installed Building Products’s payout ratio is presently 16.79%.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.