Brokerages Set Installed Building Products, Inc. (NYSE:IBP) Price Target at $245.70

Installed Building Products, Inc. (NYSE:IBP) has earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $256.89.

Several equities analysts recently weighed in on the company. Evercore ISI lifted their target price on Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Jefferies Financial Group boosted their price objective on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial lifted their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday. Finally, JPMorgan Chase & Co. reduced their target price on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a report on Monday, May 13th.

Installed Building Products Stock Performance

Shares of IBP opened at $231.74 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.67. Installed Building Products has a one year low of $106.01 and a one year high of $281.04. The firm has a market capitalization of $6.59 billion, a P/E ratio of 26.21 and a beta of 1.93. The business has a fifty day moving average of $220.70 and a 200 day moving average of $224.86.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.08 by $0.29. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The company had revenue of $692.90 million during the quarter, compared to analyst estimates of $676.60 million. As a group, sell-side analysts anticipate that Installed Building Products will post 11.2 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.60%. Installed Building Products’s dividend payout ratio is 15.84%.

Insider Activity

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

Institutional Trading of Installed Building Products

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Installed Building Products by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after purchasing an additional 18,890 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Installed Building Products by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 771,089 shares of the construction company’s stock worth $140,974,000 after buying an additional 5,359 shares during the period. Giverny Capital Inc. lifted its holdings in Installed Building Products by 5.2% during the fourth quarter. Giverny Capital Inc. now owns 455,426 shares of the construction company’s stock worth $83,261,000 after buying an additional 22,528 shares during the period. Swedbank AB lifted its holdings in Installed Building Products by 11.6% during the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after buying an additional 43,000 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Installed Building Products by 4.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 377,741 shares of the construction company’s stock worth $69,058,000 after buying an additional 15,220 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

About Installed Building Products

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.