Analysts Set Installed Building Products, Inc. (NYSE:IBP) Price Target at $101.50

Posted by MarketBeat News on Aug 6th, 2022

Shares of Installed Building Products, Inc. (NYSE:IBP – Get Rating) have earned an average rating of “Hold” from the eleven analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $100.57.

Several research analysts recently issued reports on the company. Zelman & Associates cut Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial cut their target price on Installed Building Products from $135.00 to $100.00 in a research report on Friday, May 6th. JPMorgan Chase & Co. cut their target price on Installed Building Products from $101.00 to $88.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 20th. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their target price for the company from $91.00 to $71.00 in a research report on Wednesday, June 22nd. Finally, The Goldman Sachs Group cut their target price on Installed Building Products from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, June 23rd.

Institutional Trading of Installed Building Products

Several hedge funds have recently made changes to their positions in IBP. Vanguard Group Inc. increased its stake in Installed Building Products by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock worth $239,629,000 after acquiring an additional 329,661 shares during the last quarter. Findlay Park Partners LLP increased its stake in Installed Building Products by 7.8% in the 1st quarter. Findlay Park Partners LLP now owns 2,005,720 shares of the construction company’s stock worth $169,463,000 after acquiring an additional 144,594 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Installed Building Products by 0.3% in the 1st quarter. Invesco Ltd. now owns 1,406,928 shares of the construction company’s stock worth $118,871,000 after purchasing an additional 4,335 shares in the last quarter. State Street Corp boosted its holdings in shares of Installed Building Products by 0.3% in the 1st quarter. State Street Corp now owns 878,995 shares of the construction company’s stock worth $74,266,000 after purchasing an additional 2,594 shares in the last quarter. Finally, Van Berkom & Associates Inc. boosted its holdings in shares of Installed Building Products by 26.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 681,497 shares of the construction company’s stock worth $56,673,000 after purchasing an additional 142,090 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors.

Installed Building Products Trading Down 5.3 %

NYSE IBP opened at $98.94 on Wednesday. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 21.65 and a beta of 1.79. Installed Building Products has a 52 week low of $69.44 and a 52 week high of $141.43. The business has a 50 day moving average price of $90.49 and a 200-day moving average price of $92.93. The company has a quick ratio of 2.08, a current ratio of 2.57 and a debt-to-equity ratio of 2.13.

Installed Building Products (NYSE:IBP – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $1.94 by $0.54. The firm had revenue of $676.70 million during the quarter, compared to the consensus estimate of $611.12 million. Installed Building Products had a return on equity of 45.84% and a net margin of 6.38%. The company’s quarterly revenue was up 38.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.59 earnings per share. As a group, equities analysts expect that Installed Building Products will post 7.16 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a $0.315 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $1.26 annualized dividend and a dividend yield of 1.27%. Installed Building Products’s payout ratio is presently 27.57%.

Installed Building Products Company Profile

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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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.