Installed Building Products (NYSE:IBP) Rating Increased to Buy at StockNews.com

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

Several other brokerages also recently weighed in on IBP. Zacks Investment Research upgraded Installed Building Products from a sell rating to a hold rating in a report on Wednesday. Truist Financial decreased their price target on shares of Installed Building Products from $135.00 to $100.00 in a research note on Friday. Credit Suisse Group started coverage on shares of Installed Building Products in a research note on Tuesday, April 5th. They set a neutral rating and a $95.00 target price for the company. BTIG Research cut their price target on Installed Building Products from $124.00 to $108.00 in a research note on Friday. Finally, The Goldman Sachs Group decreased their price target on Installed Building Products from $114.00 to $95.00 and set a neutral rating for the company in a report on Tuesday, April 12th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $115.50.

Shares of IBP stock traded up $0.97 during trading on Friday, hitting $87.74. 248,008 shares of the stock traded hands, compared to its average volume of 282,336. Installed Building Products has a 52-week low of $75.95 and a 52-week high of $141.43. The firm has a market capitalization of $2.57 billion, a P/E ratio of 19.20 and a beta of 1.78. The firm’s fifty day moving average price is $89.04 and its 200-day moving average price is $111.52. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.79 and a quick ratio of 2.33.

Installed Building Products (NYSE:IBPGet Rating) last posted its earnings results on Thursday, May 5th. The construction company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.42. The company had revenue of $587.50 million during the quarter, compared to analysts’ expectations of $541.59 million. Installed Building Products had a return on equity of 42.34% and a net margin of 6.03%. The firm’s quarterly revenue was up 34.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts expect that Installed Building Products will post 6.59 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be issued a dividend of $0.315 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.26 annualized dividend and a yield of 1.44%. Installed Building Products’s dividend payout ratio is currently 19.69%.

In other Installed Building Products news, Director Lawrence A. Hilsheimer acquired 513 shares of the company’s stock in a transaction that occurred on Monday, February 28th. The shares were purchased at an average price of $97.30 per share, with a total value of $49,914.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.90% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in IBP. Covestor Ltd acquired a new stake in shares of Installed Building Products during the fourth quarter worth $38,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Installed Building Products by 38.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 449 shares of the construction company’s stock valued at $63,000 after purchasing an additional 125 shares during the last quarter. Strs Ohio purchased a new position in shares of Installed Building Products in the 4th quarter worth $97,000. KBC Group NV grew its position in Installed Building Products by 87.7% during the first quarter. KBC Group NV now owns 884 shares of the construction company’s stock valued at $75,000 after acquiring an additional 413 shares during the period. Finally, Alphasimplex Group LLC acquired a new stake in Installed Building Products during the fourth quarter worth about $208,000. 98.94% of the stock is owned by institutional investors.

About Installed Building Products (Get Rating)

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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