Installed Building Products (NYSE:IBP) Now Covered by Analysts at Melius Research

Melius Research started coverage on shares of Installed Building Products (NYSE:IBP) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a hold rating and a $217.00 price objective on the construction company’s stock.

Other research analysts also recently issued research reports about the stock. DA Davidson raised their price objective on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, September 27th. Wells Fargo & Company decreased their target price on Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating on the stock 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. Finally, Zacks Research upgraded Installed Building Products from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and a consensus target price of $243.00.

Installed Building Products Price Performance

IBP stock opened at $192.29 on Tuesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The company’s fifty day moving average price is $223.47 and its 200-day moving average price is $234.30. Installed Building Products has a one year low of $186.64 and a one year high of $349.00. The company has a market capitalization of $5.11 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 3.56 and a beta of 1.71.

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

Installed Building Products Announces Dividend

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

Insider Activity at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the transaction, the director owned 5,142 shares in the company, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 13.80% 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 stock. Vaughan Nelson Investment Management L.P. increased its position in Installed Building Products by 3.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 133,953 shares of the construction company’s stock valued at $35,518,000 after acquiring an additional 5,042 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Installed Building Products in the 2nd quarter worth about $12,305,000. Hsbc Holdings PLC bought a new stake in shares of Installed Building Products in the 2nd quarter worth about $20,435,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Installed Building Products in the 2nd quarter worth about $1,528,000. Finally, Bank of America Corp DE boosted its stake in shares of Installed Building Products by 51.8% during the 1st quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock worth $79,208,000 after purchasing an additional 101,967 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Company Profile

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.