Installed Building Products, Inc. (NYSE:IBP) Receives $219.30 Average Target Price from Analysts

Shares of Installed Building Products, Inc. (NYSE:IBP) have received an average recommendation of “Moderate Buy” from the eleven ratings firms that are covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $229.30.

A number of equities research analysts have commented on IBP shares. Benchmark increased their price target on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Royal Bank of Canada lifted their price objective on shares of 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. Evercore ISI raised their target price on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 2nd. Truist Financial lifted their price target on Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Finally, Loop Capital increased their price objective on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a report on Friday, May 10th.

Installed Building Products Price Performance

IBP opened at $213.31 on Tuesday. The business has a fifty day moving average of $240.79 and a 200 day moving average of $203.20. The stock has a market cap of $6.07 billion, a P/E ratio of 24.13 and a beta of 1.91. The company has a quick ratio of 2.67, a current ratio of 3.18 and a debt-to-equity ratio of 1.25. Installed Building Products has a 52-week low of $103.50 and a 52-week high of $263.76.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.42 by $0.03. The firm had revenue of $720.70 million during the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a net margin of 8.90% and a return on equity of 45.41%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 earnings per share. As a group, sell-side analysts anticipate that Installed Building Products will post 11.2 EPS for the current year.

Installed Building Products Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, June 30th. Stockholders of record on Saturday, June 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.40 annualized dividend and a dividend yield of 0.66%. Installed Building Products’s dividend payout ratio (DPR) is 15.84%.

Insider Buying and Selling

In other Installed Building Products news, insider Jason R. Niswonger sold 6,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the completion of the transaction, the insider now owns 13,159 shares in the company, valued at approximately $3,024,464.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the transaction, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jason R. Niswonger sold 6,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the completion of the transaction, the insider now owns 13,159 shares in the company, valued at $3,024,464.56. The disclosure for this sale can be found here. Insiders have sold a total of 12,619 shares of company stock valued at $2,985,772 over the last quarter. 16.50% of the stock is currently owned by insiders.

Institutional Trading of Installed Building Products

A number of hedge funds have recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in shares of Installed Building Products during the fourth quarter worth $25,000. Russell Investments Group Ltd. grew its stake in shares of Installed Building Products by 280.6% during the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after buying an additional 101 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Installed Building Products by 253.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after buying an additional 104 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Installed Building Products in the first quarter valued at $29,000. Finally, Annapolis Financial Services LLC increased its stake in Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 99.61% 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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.