Installed Building Products (NYSE:IBP) Given New $270.00 Price Target at DA Davidson

Installed Building Products (NYSE:IBP) had its price target lifted by DA Davidson from $252.00 to $270.00 in a report published on Wednesday,Benzinga reports. DA Davidson currently has a neutral rating on the construction company’s stock.

Several other brokerages also recently issued reports on IBP. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $245.00 price objective on shares of Installed Building Products in a research note on Tuesday, January 13th. Zacks Research cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Royal Bank Of Canada increased their price target on Installed Building Products from $203.00 to $255.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Weiss Ratings raised Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Finally, Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, February 3rd. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $257.73.

Installed Building Products Trading Down 3.1%

IBP stock opened at $277.09 on Wednesday. Installed Building Products has a twelve month low of $150.83 and a twelve month high of $349.00. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 28.48, a price-to-earnings-growth ratio of 4.02 and a beta of 1.90. The company has a quick ratio of 2.44, a current ratio of 3.03 and a debt-to-equity ratio of 1.20. The firm’s fifty day simple moving average is $309.16 and its two-hundred day simple moving average is $277.10.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.41. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The firm had revenue of $747.50 million during the quarter, compared to analyst estimates of $738.97 million. During the same quarter last year, the business earned $2.88 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, analysts anticipate that Installed Building Products will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently announced a special dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $1.80 dividend. This represents a yield of 63.0%. The ex-dividend date is Friday, March 13th. Installed Building Products’s dividend payout ratio is currently 16.03%.

Insider Buying and Selling

In related news, Director Janet E. Jackson sold 1,410 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the sale, the director owned 5,373 shares in the company, valued at approximately $1,575,954.63. The trade was a 20.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total value of $125,624,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,727,819 shares in the company, valued at approximately $542,638,835.14. This trade represents a 18.80% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds have recently made changes to their positions in IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Installed Building Products by 3.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after buying an additional 486 shares during the period. United Services Automobile Association purchased a new stake in Installed Building Products in the first quarter worth about $263,000. Jane Street Group LLC lifted its stake in Installed Building Products by 270.0% in the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after acquiring an additional 12,545 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in Installed Building Products by 4.9% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 5,354 shares of the construction company’s stock worth $965,000 after acquiring an additional 250 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Installed Building Products by 5.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 5,850 shares of the construction company’s stock worth $1,055,000 after acquiring an additional 293 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.