Installed Building Products, Inc. (NYSE:IBP) Receives $208.40 Average Price Target from Brokerages

Shares of Installed Building Products, Inc. (NYSE:IBP) have been given a consensus recommendation of “Moderate Buy” by the twelve analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $208.40.

A number of brokerages have recently commented on IBP. DA Davidson began coverage on shares of Installed Building Products in a report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 price target on the stock. Evercore ISI increased their price target on shares of Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a report on Tuesday, April 2nd. Truist Financial increased their price target on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. lowered shares of Installed Building Products from an “overweight” rating to a “neutral” rating and increased their target price for the company from $199.00 to $242.00 in a report on Wednesday, February 28th. Finally, Loop Capital raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Monday, January 8th.

Insiders Place Their Bets

In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $244.22, for a total value of $273,282.18. Following the sale, the chief operating officer now owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $244.22, for a total value of $273,282.18. Following the sale, the chief operating officer now owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 6,619 shares of company stock valued at $1,606,732 in the last quarter. Insiders own 16.50% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently modified their holdings of IBP. National Bank of Canada FI lifted its position in shares of Installed Building Products by 7.4% in the 3rd quarter. National Bank of Canada FI now owns 1,860 shares of the construction company’s stock worth $229,000 after purchasing an additional 128 shares during the period. Ronald Blue Trust Inc. lifted its position in shares of Installed Building Products by 117.2% in the 3rd quarter. Ronald Blue Trust Inc. now owns 530 shares of the construction company’s stock worth $66,000 after purchasing an additional 286 shares during the period. Arkadios Wealth Advisors lifted its position in shares of Installed Building Products by 19.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 2,354 shares of the construction company’s stock worth $294,000 after purchasing an additional 388 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Installed Building Products in the 3rd quarter worth about $2,246,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Installed Building Products in the 3rd quarter worth about $247,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Stock Performance

NYSE IBP opened at $235.36 on Friday. The company’s 50 day simple moving average is $239.27 and its two-hundred day simple moving average is $187.88. The stock has a market capitalization of $6.69 billion, a PE ratio of 27.34 and a beta of 1.89. Installed Building Products has a 1 year low of $103.50 and a 1 year high of $263.76. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62.

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

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date was Thursday, March 14th. This is a positive change from Installed Building Products’s previous quarterly dividend of $0.33. Installed Building Products’s dividend payout ratio (DPR) is 16.26%.

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.