Installed Building Products (NYSE:IBP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $245.00 price objective on shares of Installed Building Products in a research note on Tuesday, January 13th. Jefferies Financial Group lifted their target price on shares of Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a research note on Monday, December 15th. DA Davidson upped their target price on shares of Installed Building Products from $252.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, March 18th. Benchmark lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings upgraded Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Eleven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $257.73.

Installed Building Products Trading Up 3.3%

Shares of NYSE:IBP opened at $267.42 on Friday. The stock has a 50 day moving average of $307.67 and a 200 day moving average of $277.24. The company has a market cap of $7.21 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 3.64 and a beta of 1.90. The company has a current ratio of 3.03, a quick ratio of 2.44 and a debt-to-equity ratio of 1.20. Installed Building Products has a 12-month low of $150.83 and a 12-month high of $349.00.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.41. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The company had revenue of $747.50 million during the quarter, compared to analyst estimates of $738.97 million. During the same period in the prior year, the firm posted $2.88 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts expect that Installed Building Products will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $1.80 per share. This represents a yield of 63.0%. The ex-dividend date is Friday, March 13th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.03%.

Insider Buying and Selling

In related news, Director Janet E. Jackson sold 1,410 shares of the firm’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the transaction, the director directly owned 5,373 shares of the company’s stock, valued at approximately $1,575,954.63. This trade represents a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the completion of the sale, the chief executive officer owned 1,727,819 shares in the company, valued at $542,638,835.14. This represents a 18.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Institutional investors and hedge funds have recently made changes to their positions in the business. Danske Bank A S purchased a new stake in shares of Installed Building Products during the 3rd quarter valued at about $25,000. NewEdge Advisors LLC grew its position in Installed Building Products by 5,000.0% in the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Installed Building Products during the third quarter worth approximately $33,000. Northwestern Mutual Wealth Management Co. increased its stake in Installed Building Products by 700.0% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after acquiring an additional 133 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in Installed Building Products during the third quarter valued at approximately $42,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.