Installed Building Products (NYSE:IBP) Stock Gets Price Target Reduction from Royal Bank Of Canada

Installed Building Products (NYSE:IBP) had its price objective decreased by Royal Bank Of Canada from $228.00 to $208.00 in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. Royal Bank Of Canada currently has a sector perform rating on the construction company’s stock.

A number of other research firms also recently commented on IBP. Evercore set a $222.00 target price on shares of Installed Building Products in a research report on Friday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Stifel Nicolaus started coverage on shares of Installed Building Products in a research note on Monday, September 14th. They issued a “buy” rating and a $240.00 price objective for the company. Zacks Research raised Installed Building Products from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. Finally, DA Davidson lifted their target price on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $236.83.

Installed Building Products Stock Performance

Shares of IBP opened at $185.26 on Wednesday. The stock has a 50 day moving average price of $221.06 and a 200 day moving average price of $232.85. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 3.50 and a beta of 1.71. Installed Building Products has a 52-week low of $178.54 and a 52-week high of $349.00.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. The company had revenue of $777.80 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.95 earnings per share. Research analysts predict that Installed Building Products will post 9.89 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a $0.39 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.56 annualized dividend and a yield of 0.8%. Installed Building Products’s dividend payout ratio is 16.79%.

Insiders Place Their Bets

In related news, Director Janet Jackson sold 1,086 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the completion of the sale, the director owned 5,142 shares in the company, valued at $1,218,962.52. This represents a 17.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 13.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in IBP. Meeder Asset Management Inc. purchased a new stake in shares of Installed Building Products during the first quarter worth approximately $30,000. Keating Financial Advisory Services Inc. purchased a new position in Installed Building Products in the 2nd quarter valued at $31,000. Parallel Advisors LLC grew its position in Installed Building Products by 446.7% in the 1st quarter. Parallel Advisors LLC now owns 164 shares of the construction company’s stock valued at $44,000 after buying an additional 134 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Installed Building Products in the 2nd quarter valued at $52,000. Finally, Rockefeller Capital Management L.P. increased its stake in Installed Building Products by 29.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock valued at $67,000 after buying an additional 59 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.