Brokerages Set Installed Building Products, Inc. (NYSE:IBP) PT at $220.45

Installed Building Products, Inc. (NYSE:IBP) has been assigned a consensus recommendation of “Reduce” from the sixteen brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $220.4545.

A number of research analysts have issued reports on the stock. Jefferies Financial Group upped their target price on shares of Installed Building Products from $175.00 to $225.00 and gave the company a “hold” rating in a report on Tuesday, August 12th. Wall Street Zen upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Installed Building Products in a report on Wednesday, October 8th. Royal Bank Of Canada reiterated an “underperform” rating and set a $184.00 price objective (up from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Finally, Evercore ISI set a $240.00 price objective on shares of Installed Building Products in a report on Tuesday, October 7th.

Insider Activity at Installed Building Products

In other news, COO Brad A. Wheeler sold 3,186 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the transaction, the chief operating officer directly owned 8,736 shares in the company, valued at $2,404,933.44. This represents a 26.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the sale, the insider directly owned 37,999 shares of the company’s stock, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,655 shares of company stock valued at $3,123,578. Insiders own 16.20% of the company’s stock.

Institutional Trading of Installed Building Products

A number of institutional investors and hedge funds have recently bought and sold shares of IBP. State of Wyoming boosted its position in Installed Building Products by 5.1% during the 2nd quarter. State of Wyoming now owns 1,101 shares of the construction company’s stock worth $199,000 after acquiring an additional 53 shares during the period. Smartleaf Asset Management LLC boosted its position in Installed Building Products by 14.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock worth $78,000 after acquiring an additional 54 shares during the period. Farther Finance Advisors LLC boosted its position in Installed Building Products by 31.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock worth $55,000 after acquiring an additional 54 shares during the period. Osaic Holdings Inc. boosted its position in Installed Building Products by 0.8% during the 2nd quarter. Osaic Holdings Inc. now owns 7,524 shares of the construction company’s stock worth $1,357,000 after acquiring an additional 57 shares during the period. Finally, Inspire Advisors LLC boosted its position in Installed Building Products by 1.3% during the 2nd quarter. Inspire Advisors LLC now owns 4,844 shares of the construction company’s stock worth $874,000 after acquiring an additional 61 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Price Performance

NYSE:IBP opened at $271.94 on Tuesday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 30.25 and a beta of 1.83. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average is $259.02 and its two-hundred day moving average is $210.20. Installed Building Products has a 12-month low of $150.83 and a 12-month high of $280.00.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.50. The company had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.84 EPS. Research analysts expect that Installed Building Products will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Monday, September 15th. Installed Building Products’s dividend payout ratio is presently 16.46%.

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