Installed Building Products (NYSE:IBP) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

IBP has been the topic of several other reports. Evercore set a $246.00 price objective on shares of Installed Building Products in a report on Friday, August 7th. Wells Fargo & Company lowered their target price on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, September 11th. Stifel Nicolaus assumed coverage on shares of Installed Building Products in a research report on Monday, September 14th. They set a “buy” rating and a $240.00 target price for the company. DA Davidson increased their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $247.55.

Installed Building Products Price Performance

Installed Building Products stock opened at $197.51 on Friday. The business’s 50-day simple moving average is $230.74 and its 200 day simple moving average is $243.24. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 3.68 and a beta of 1.71. Installed Building Products has a 12-month low of $193.11 and a 12-month high of $349.00. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.36. The firm had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.95 EPS. As a group, research analysts anticipate that Installed Building Products will post 9.89 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.8%. Installed Building Products’s payout ratio is currently 16.79%.

Insider Buying and Selling

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the sale, the director owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This represents a 17.44% 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. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in IBP. BlackRock Inc. bought a new stake in shares of Installed Building Products in the 2nd quarter valued at $1,055,034,000. Bank of America Corp DE bought a new position in Installed Building Products during the second quarter worth about $62,418,000. Bamco Inc. NY bought a new position in Installed Building Products during the second quarter worth about $45,580,000. Paralel Advisors LLC bought a new position in Installed Building Products during the second quarter worth about $37,924,000. Finally, Bank of New York Mellon Corp acquired a new position in Installed Building Products in the second quarter valued at about $37,771,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.