Installed Building Products (NYSE:IBP) Rating Lowered to Hold at Danske

Danske downgraded shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. They currently have $252.00 price target on the construction company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada reiterated an “underperform” rating and set a $184.00 price target (up previously from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. 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 report on Friday, August 8th. Zelman & Associates upgraded shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a research report on Friday, August 8th. Finally, Benchmark decreased their price objective on Installed Building Products from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Installed Building Products has an average rating of “Hold” and a consensus target price of $217.36.

Installed Building Products Trading Down 2.2%

Shares of NYSE IBP opened at $266.56 on Tuesday. Installed Building Products has a 1-year low of $150.83 and a 1-year high of $275.76. The company has a market cap of $7.29 billion, a PE ratio of 29.65 and a beta of 1.73. 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 has a 50-day moving average of $197.50 and a two-hundred day moving average of $179.83.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $760.30 million during the quarter, compared to the consensus estimate of $711.37 million. During the same period in the previous year, the firm posted $2.84 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. As a group, equities analysts expect that Installed Building Products will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

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

Insider Transactions at Installed Building Products

In related news, CAO Todd R. Fry sold 500 shares of the business’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 owned 6,822 shares in the company, valued at approximately $1,755,095.94. The trade was a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Curio Wealth LLC boosted its holdings in shares of Installed Building Products by 16,800.0% in the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock valued at $30,000 after buying an additional 168 shares during the period. UMB Bank n.a. boosted its holdings in shares of Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company’s stock valued at $32,000 after buying an additional 108 shares during the period. SRH Advisors LLC boosted its holdings in shares of Installed Building Products by 70.8% in the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock valued at $37,000 after buying an additional 85 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Installed Building Products by 74.6% in the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company’s stock valued at $39,000 after buying an additional 97 shares during the period. Finally, McIlrath & Eck LLC boosted its holdings in shares of Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

About Installed Building Products

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.