Shares of Installed Building Products, Inc. (NYSE:IBP – Get Rating) have been assigned a consensus recommendation of “Hold” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $103.20.
Several brokerages have recently weighed in on IBP. BTIG Research cut Installed Building Products from a “buy” rating to a “neutral” rating in a research report on Friday, August 5th. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price target for the company from $91.00 to $71.00 in a research report on Wednesday, June 22nd. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a report on Monday, August 8th. The Goldman Sachs Group cut their price objective on Installed Building Products from $105.00 to $90.00 and set a “neutral” rating for the company in a report on Thursday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Installed Building Products in a report on Wednesday, August 17th. They set a “hold” rating and a $108.00 price objective for the company.
Insiders Place Their Bets
In other Installed Building Products news, Director Michael H. Thomas sold 2,491 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $101.05, for a total value of $251,715.55. Following the completion of the sale, the director now owns 8,669 shares of the company’s stock, valued at $876,002.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.90% of the stock is owned by insiders.
Institutional Trading of Installed Building Products
Installed Building Products Trading Down 0.2 %
Shares of Installed Building Products stock opened at $83.89 on Thursday. Installed Building Products has a 52-week low of $69.44 and a 52-week high of $141.43. The stock’s 50-day simple moving average is $94.62 and its 200 day simple moving average is $90.38. The stock has a market capitalization of $2.41 billion, a P/E ratio of 15.59 and a beta of 1.80. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.72 and a current ratio of 2.25.
Installed Building Products (NYSE:IBP – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The construction company reported $2.48 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.52. Installed Building Products had a return on equity of 50.89% and a net margin of 6.85%. The firm had revenue of $676.70 million for the quarter, compared to analysts’ expectations of $611.12 million. During the same period in the prior year, the business posted $1.59 earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. As a group, research analysts anticipate that Installed Building Products will post 8.26 EPS for the current year.
Installed Building Products Announces Dividend
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. This represents a $1.26 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, September 14th. Installed Building Products’s dividend payout ratio is currently 23.42%.
Installed Building Products Company Profile
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.
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