Installed Building Products (NYSE:IBP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a report released on Friday.

Other analysts have also recently issued research reports about the stock. Loop Capital cut 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 note on Friday, August 8th. Royal Bank Of Canada reissued an “underperform” rating and issued a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. Danske cut shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price target for the company. in a research note on Tuesday, August 12th. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Zelman & Associates raised shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a research note on Friday, August 8th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $217.36.

Installed Building Products Stock Up 0.3%

IBP stock opened at $249.36 on Friday. The company has a market cap of $6.81 billion, a price-to-earnings ratio of 27.74 and a beta of 1.76. 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 12 month low of $150.83 and a 12 month high of $280.00. The firm has a 50-day moving average of $248.71 and a two-hundred day moving average of $198.42.

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

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.46%.

Insider Activity at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler sold 3,186 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total value of $877,073.94. Following the completion of the transaction, the chief operating officer owned 8,736 shares of the company’s stock, valued at $2,404,933.44. This trade represents a 26.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the transaction, the chief accounting officer directly owned 6,822 shares of the company’s stock, valued at $1,755,095.94. This represents a 6.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,655 shares of company stock worth $3,123,578. Company insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently modified their holdings of the company. State of Wyoming raised its holdings in shares of Installed Building Products by 5.1% during the second quarter. State of Wyoming now owns 1,101 shares of the construction company’s stock worth $199,000 after purchasing an additional 53 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Installed Building Products by 14.0% during the second quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock worth $78,000 after purchasing an additional 54 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Installed Building Products by 0.8% during the second quarter. Osaic Holdings Inc. now owns 7,524 shares of the construction company’s stock worth $1,357,000 after purchasing an additional 57 shares during the period. Inspire Advisors LLC raised its holdings in shares of Installed Building Products by 1.3% during the second quarter. Inspire Advisors LLC now owns 4,844 shares of the construction company’s stock worth $874,000 after purchasing an additional 61 shares during the period. Finally, Xponance Inc. raised its holdings in shares of Installed Building Products by 3.9% during the first quarter. Xponance Inc. now owns 1,802 shares of the construction company’s stock worth $309,000 after purchasing an additional 67 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.