Installed Building Products, Inc. (NYSE:IBP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Installed Building Products, Inc. (NYSE:IBP) have been assigned a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $208.40.

A number of equities analysts have recently commented on IBP shares. Royal Bank of Canada lifted their price target on shares of Installed Building Products from $188.00 to $216.00 and gave the stock a “sector perform” rating in a report on Friday, February 23rd. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. Evercore ISI upped their price target on Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. downgraded Installed Building Products from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $199.00 to $242.00 in a research report on Wednesday, February 28th. Finally, DA Davidson started coverage on Installed Building Products in a report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 target price on the stock.

Installed Building Products Stock Performance

Shares of IBP stock opened at $224.51 on Friday. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 26.08 and a beta of 1.89. The company has a current ratio of 3.09, a quick ratio of 2.62 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $236.81 and its 200-day moving average price is $183.78. Installed Building Products has a 12 month low of $103.50 and a 12 month high of $263.76.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. During the same quarter last year, the business earned $2.34 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Equities research analysts forecast that Installed Building Products will post 11.2 EPS for the current year.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were paid a $1.60 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 annualized dividend and a yield of 2.85%. Installed Building Products’s payout ratio is 16.26%.

Insider Transactions at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the transaction, the chief accounting officer now owns 7,176 shares in the company, valued at approximately $1,675,596. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the sale, the chief accounting officer now directly owns 7,176 shares of the company’s stock, valued at $1,675,596. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the transaction, the chief financial officer now directly owns 38,320 shares in the company, valued at approximately $9,324,788.80. The disclosure for this sale can be found here. Insiders sold a total of 6,619 shares of company stock valued at $1,606,732 in the last quarter. 17.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Installed Building Products

A number of hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in shares of Installed Building Products during the fourth quarter worth approximately $25,000. Russell Investments Group Ltd. raised its holdings in Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after buying an additional 101 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Installed Building Products by 253.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock valued at $27,000 after buying an additional 104 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Installed Building Products during the first quarter valued at about $29,000. Finally, Annapolis Financial Services LLC grew its holdings in shares of Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after buying an additional 53 shares during the last quarter. 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.