Installed Building Products (NYSE:IBP) Given New $272.00 Price Target at Evercore ISI

Installed Building Products (NYSE:IBPFree Report) had its target price raised by Evercore ISI from $226.00 to $272.00 in a report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Several other research firms have also recently commented on IBP. StockNews.com upgraded shares of Installed Building Products from a hold rating to a buy rating in a report on Friday, February 16th. DA Davidson started coverage on shares of Installed Building Products in a report on Tuesday, March 5th. They set a buy rating and a $275.00 price target for the company. Truist Financial boosted 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. cut shares of Installed Building Products from an overweight rating to a neutral rating and upped their target price for the company from $199.00 to $242.00 in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group restated a buy rating on shares of Installed Building Products in a report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $208.40.

Read Our Latest Report on Installed Building Products

Installed Building Products Trading Down 1.6 %

Shares of IBP stock opened at $253.10 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.62 and a current ratio of 3.09. The stock has a market capitalization of $7.18 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.89. The company has a 50 day moving average price of $225.81 and a 200 day moving average price of $174.90. Installed Building Products has a fifty-two week low of $103.50 and a fifty-two week high of $263.76.

Installed Building Products (NYSE:IBPGet Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The company had revenue of $720.70 million during the quarter, compared to analysts’ expectations of $688.59 million. During the same quarter in the previous year, the business posted $2.34 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. Equities research analysts predict that Installed Building Products will post 11.25 EPS for the current fiscal year.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were given a $1.60 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 14th. This represents a $6.40 annualized dividend and a yield of 2.53%. Installed Building Products’s dividend payout ratio is 16.26%.

Insider Activity at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares in the company, valued at approximately $1,675,596. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Installed Building Products news, CFO Michael Thomas Miller sold 5,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the completion of the transaction, the chief financial officer now owns 38,320 shares in the company, valued at approximately $9,324,788.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the transaction, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at approximately $1,675,596. The disclosure for this sale can be found here. Insiders sold a total of 6,619 shares of company stock worth $1,606,732 in the last 90 days. 17.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently bought and sold shares of IBP. BlackRock Inc. raised its position in Installed Building Products by 10.0% during the 1st quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company’s stock worth $507,990,000 after buying an additional 405,604 shares during the last quarter. Vanguard Group Inc. raised its position in Installed Building Products by 13.2% during the 1st quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock worth $239,629,000 after buying an additional 329,661 shares during the last quarter. Channing Capital Management LLC purchased a new position in Installed Building Products during the 4th quarter worth $58,696,000. Stephens Investment Management Group LLC purchased a new position in Installed Building Products during the 2nd quarter worth $29,964,000. Finally, Norges Bank purchased a new position in Installed Building Products during the 4th quarter worth $37,583,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.

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Analyst Recommendations for Installed Building Products (NYSE:IBP)

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