Installed Building Products (NYSE:IBP) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a report published on Saturday morning.

Several other research analysts have also recently commented on the company. JPMorgan Chase & Co. reissued an “underweight” rating and set a $245.00 price target on shares of Installed Building Products in a research report on Tuesday, January 13th. Zacks Research lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Jefferies Financial Group increased their price objective on Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a report on Monday, December 15th. Benchmark cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Vertical Research raised shares of Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 price target on the stock in a research report on Friday, February 27th. Eleven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Reduce” and an average price target of $257.73.

Installed Building Products Stock Down 5.2%

Installed Building Products stock opened at $258.49 on Friday. The company has a current ratio of 3.03, a quick ratio of 2.44 and a debt-to-equity ratio of 1.20. Installed Building Products has a 1-year low of $150.83 and a 1-year high of $349.00. The company has a fifty day simple moving average of $308.38 and a 200 day simple moving average of $277.16. The company has a market cap of $6.97 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 3.64 and a beta of 1.90.

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

Installed Building Products Announces Dividend

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

Insider Activity at Installed Building Products

In related news, Director Janet E. Jackson sold 1,410 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $293.31, for a total transaction of $413,567.10. Following the sale, the director owned 5,373 shares in the company, valued at approximately $1,575,954.63. This trade represents a 20.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total value of $125,624,000.00. Following the completion of the sale, the chief executive officer directly owned 1,727,819 shares in the company, valued at $542,638,835.14. This trade represents a 18.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 16.20% of the company’s stock.

Institutional Trading of Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in IBP. Danske Bank A S acquired a new position in shares of Installed Building Products in the 3rd quarter worth approximately $25,000. NewEdge Advisors LLC raised its stake in Installed Building Products by 5,000.0% during the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Installed Building Products during the third quarter worth $33,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Installed Building Products by 700.0% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after buying an additional 133 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new position in Installed Building Products in the fourth quarter valued at $43,000. 99.61% of the stock is currently owned by 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.