StockNews.com Upgrades Installed Building Products (NYSE:IBP) to Buy

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

IBP has been the subject of several other reports. The Goldman Sachs Group lifted their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group boosted their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Evercore ISI increased their target price on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada lifted their price target on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, Stephens reissued an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $254.40.

Installed Building Products Trading Up 0.0 %

NYSE IBP opened at $230.67 on Tuesday. The firm has a market capitalization of $6.51 billion, a PE ratio of 25.74 and a beta of 1.94. The stock’s 50 day moving average is $231.00 and its 200 day moving average is $226.20. Installed Building Products has a twelve month low of $106.92 and a twelve month high of $281.04. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The firm had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Research analysts forecast that Installed Building Products will post 11.06 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Sunday, September 15th were paid a $0.35 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.61%. Installed Building Products’s payout ratio is 15.63%.

Institutional Trading of Installed Building Products

A number of large investors have recently made changes to their positions in IBP. Allspring Global Investments Holdings LLC purchased a new position in Installed Building Products in the 1st quarter worth about $29,000. V Square Quantitative Management LLC bought a new position in Installed Building Products in the 3rd quarter worth about $29,000. GHP Investment Advisors Inc. increased its position in shares of Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after acquiring an additional 78 shares during the period. CWM LLC raised its stake in shares of Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Installed Building Products in the first quarter valued at approximately $68,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

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.