Installed Building Products (NYSE:IBP) Price Target Raised to $203.00 at Royal Bank Of Canada

Installed Building Products (NYSE:IBP) had its price target lifted by Royal Bank Of Canada from $184.00 to $203.00 in a research report released on Thursday,Benzinga reports. The firm currently has an underperform rating on the construction company’s stock.

A number of other research analysts also recently weighed in on IBP. Weiss Ratings reissued a “hold (c+)” rating on shares of Installed Building Products in a report on Wednesday, October 8th. Loop Capital lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price target for the company. in a research report on Friday, August 8th. Jefferies Financial Group raised their price objective on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a report on Tuesday, August 12th. Wall Street Zen cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Finally, Vertical Research initiated coverage on shares of Installed Building Products in a research report on Monday, October 20th. They issued a “sell” rating on the stock. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Installed Building Products has an average rating of “Reduce” and an average price target of $224.45.

Installed Building Products Stock Performance

NYSE:IBP traded up $5.40 during trading hours on Thursday, reaching $257.32. The company had a trading volume of 340,666 shares, compared to its average volume of 431,738. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. Installed Building Products has a 52 week low of $150.83 and a 52 week high of $280.00. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 28.62 and a beta of 1.81. The firm’s 50 day moving average price is $256.12 and its 200-day moving average price is $215.48.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.49. The firm had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.85 EPS. On average, analysts forecast that Installed Building Products will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, December 15th. Installed Building Products’s dividend payout ratio is presently 16.46%.

Insider Activity

In related news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $257.27, for a total value of $128,635.00. Following the completion of the transaction, the chief accounting officer owned 6,822 shares of the company’s stock, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William Jeffrey Hire sold 6,500 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the completion of the sale, the insider owned 37,999 shares of the company’s stock, valued at $10,096,714.29. The trade was a 14.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 11,655 shares of company stock valued at $3,123,578. 16.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds have recently made changes to their positions in IBP. Eminence Capital LP bought a new stake in Installed Building Products during the 1st quarter valued at approximately $109,114,000. Timucuan Asset Management Inc. FL bought a new position in Installed Building Products in the 1st quarter worth approximately $85,786,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Installed Building Products by 190.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,292 shares of the construction company’s stock valued at $51,831,000 after buying an additional 198,391 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Installed Building Products by 1,897.8% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 177,800 shares of the construction company’s stock valued at $32,061,000 after buying an additional 168,900 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in shares of Installed Building Products by 4,659.1% during the second quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company’s stock valued at $30,996,000 after buying an additional 168,285 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

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.