Installed Building Products, Inc. (NYSE:IBP) Receives $249.30 Consensus Price Target from Analysts

Installed Building Products, Inc. (NYSE:IBP) has been given an average recommendation of “Hold” by the thirteen analysts that are covering the firm, Marketbeat.com 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 price target among analysts that have issued ratings on the stock in the last year is $247.5455.

Several equities analysts recently commented on IBP shares. DA Davidson increased their price objective on shares of Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Wells Fargo & Company decreased their target price on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Friday. Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Evercore set a $246.00 price target on Installed Building Products in a research note on Friday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th.

Installed Building Products Stock Down 0.3%

Shares of NYSE IBP opened at $199.71 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 3.76 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 stock has a 50-day moving average price of $232.00 and a two-hundred day moving average price of $245.33.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The company had revenue of $777.80 million for the quarter, compared to the consensus estimate of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.95 EPS. As a group, analysts forecast that Installed Building Products will post 9.82 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

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

Insider Buying and Selling

In other news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director directly owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new stake in Installed Building Products during the 1st quarter worth approximately $30,000. Keating Financial Advisory Services Inc. bought a new position in shares of Installed Building Products during the second quarter valued at $31,000. Parallel Advisors LLC raised its stake in shares of Installed Building Products by 446.7% during the first quarter. Parallel Advisors LLC now owns 164 shares of the construction company’s stock valued at $44,000 after acquiring an additional 134 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Installed Building Products during the second quarter worth $52,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of Installed Building Products by 29.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock worth $67,000 after purchasing an additional 59 shares during the last quarter. Institutional investors 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.