Installed Building Products, Inc. (NYSE:IBP) Stock Has Average Price Target of $229.08

Installed Building Products, Inc. (NYSE:IBP) has received an average recommendation of “Hold” from the fourteen analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $229.08.

A number of equities research analysts have commented on IBP shares. Zacks Research cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. The Goldman Sachs Group reduced their price objective on shares of Installed Building Products from $297.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Melius Research initiated coverage on shares of Installed Building Products in a research note on Tuesday, October 6th. They issued a “hold” rating and a $217.00 price objective for the company. Finally, Truist Financial decreased their price objective on shares of Installed Building Products from $200.00 to $160.00 and set a “hold” rating on the stock in a research report on Thursday, October 8th.

Installed Building Products Stock Performance

NYSE:IBP opened at $220.37 on Friday. The stock has a 50-day simple moving average of $206.35 and a two-hundred day simple moving average of $247.09. Installed Building Products has a 52-week low of $176.15 and a 52-week high of $349.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The firm has a market capitalization of $5.86 billion, a PE ratio of 19.00, a P/E/G ratio of 7.94 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The business had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. During the same quarter in the prior year, the business posted $2.95 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. Analysts forecast that Installed Building Products will post 9.75 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. Installed Building Products’s dividend payout ratio (DPR) is currently 16.79%.

Insider Buying and Selling

In other news, Director Janet Jackson sold 1,086 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director directly owned 5,142 shares in the company, valued at $1,218,962.52. The trade was a 17.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Installed Building Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Installed Building Products during the second quarter valued at approximately $1,055,034,000. Reinhart Partners LLC. purchased a new stake in Installed Building Products during the 3rd quarter valued at $87,114,000. Bank of America Corp DE bought a new stake in Installed Building Products in the second quarter worth $62,418,000. Bamco Inc. NY bought a new stake in Installed Building Products in the second quarter worth $45,580,000. Finally, Paralel Advisors LLC bought a new stake in Installed Building Products in the second quarter worth $37,924,000. Institutional investors own 99.61% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.