Installed Building Products, Inc. (NYSE:IBP) Receives Average Rating of “Hold” from Analysts

Shares of Installed Building Products, Inc. (NYSE:IBP) have received an average recommendation of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $212.45.

IBP has been the topic of several research analyst reports. DA Davidson decreased their price target on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Loop Capital cut their target price on Installed Building Products from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Benchmark lowered their price target on shares of Installed Building Products from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Truist Financial reduced their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday, March 3rd.

Installed Building Products Stock Down 2.4%

Installed Building Products stock opened at $162.97 on Wednesday. The company has a market capitalization of $4.50 billion, a P/E ratio of 18.58 and a beta of 1.73. Installed Building Products has a 1-year low of $150.83 and a 1-year high of $281.04. The firm’s fifty day simple moving average is $164.36 and its 200-day simple moving average is $176.45. The company has a current ratio of 2.89, a quick ratio of 2.31 and a debt-to-equity ratio of 1.28.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $2.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.15). The firm had revenue of $684.80 million for the quarter, compared to the consensus estimate of $681.34 million. Installed Building Products had a return on equity of 60.73% and a net margin of 8.39%. Installed Building Products’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.47 earnings per share. Sell-side analysts forecast that Installed Building Products will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, June 13th. Installed Building Products’s payout ratio is presently 16.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBP. Curio Wealth LLC acquired a new position in shares of Installed Building Products during the fourth quarter worth approximately $30,000. UMB Bank n.a. lifted its holdings in Installed Building Products by 142.1% during the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company’s stock worth $32,000 after buying an additional 108 shares in the last quarter. Fifth Third Bancorp boosted its position in Installed Building Products by 74.6% in the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company’s stock valued at $39,000 after buying an additional 97 shares during the last quarter. McIlrath & Eck LLC increased its stake in shares of Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after buying an additional 61 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Installed Building Products by 295.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds 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.