Installed Building Products, Inc. (NYSE:IBP) Given Average Recommendation of “Moderate Buy” by Brokerages

Installed Building Products, Inc. (NYSE:IBP) has been assigned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $208.40.

Several research firms recently weighed in on IBP. The Goldman Sachs Group restated a “buy” rating on shares of Installed Building Products in a research note on Thursday, February 1st. Truist Financial increased their target price on Installed Building Products from $200.00 to $235.00 and gave the company a “hold” rating in a research note on Friday, February 23rd. DA Davidson assumed coverage on Installed Building Products in a research note on Tuesday, March 5th. They set a “buy” rating and a $275.00 target price on the stock. Royal Bank of Canada increased their target price on Installed Building Products from $188.00 to $216.00 and gave the company a “sector perform” rating in a research note on Friday, February 23rd. Finally, Evercore ISI increased their target price on Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd.

Insider Activity

In related news, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the sale, the chief operating officer now directly owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the sale, the chief operating officer now owns 6,679 shares in the company, valued at approximately $1,631,145.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Thomas Miller sold 5,000 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $243.34, for a total value 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 $9,324,788.80. The disclosure for this sale can be found here. Insiders have sold a total of 6,619 shares of company stock valued at $1,606,732 in the last ninety days. Corporate insiders own 16.50% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors have recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC grew its holdings in Installed Building Products by 45.7% during the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock valued at $31,000 after buying an additional 53 shares in the last quarter. Quarry LP grew its holdings in Installed Building Products by 37.5% during the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after buying an additional 57 shares in the last quarter. Shaker Investments LLC OH grew its holdings in Installed Building Products by 0.6% during the 4th quarter. Shaker Investments LLC OH now owns 10,665 shares of the construction company’s stock valued at $1,950,000 after buying an additional 66 shares in the last quarter. Diversified Trust Co grew its holdings in Installed Building Products by 4.7% during the 1st quarter. Diversified Trust Co now owns 1,975 shares of the construction company’s stock valued at $511,000 after buying an additional 89 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in Installed Building Products by 2.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 4,144 shares of the construction company’s stock valued at $758,000 after buying an additional 93 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 6.5 %

IBP opened at $237.91 on Friday. The business has a 50 day simple moving average of $238.37 and a two-hundred day simple moving average of $187.21. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 27.63 and a beta of 1.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62. Installed Building Products has a one year low of $103.50 and a one year high of $263.76.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.42 by $0.03. Installed Building Products had a return on equity of 47.18% and a net margin of 8.77%. The firm had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. During the same quarter in the prior year, the company earned $2.34 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. Analysts predict that Installed Building Products will post 11.2 EPS for the current year.

Installed Building Products Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Shareholders of record on Friday, March 15th were given a $1.60 dividend. This is a boost from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.40 dividend on an annualized basis and a yield of 2.69%. Installed Building Products’s dividend payout ratio is presently 16.26%.

About Installed Building Products

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.