Installed Building Products (NYSE:IBP) Stock Gets Price Target Reduction from DA Davidson

Installed Building Products (NYSE:IBP – Free Report) had its price objective lowered by DA Davidson from $250.00 to $244.00 in a report released on Monday,Benzinga reports. The firm currently has a neutral rating on the construction company’s stock.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. The Goldman Sachs Group restated a “buy” rating and issued a $261.00 target price on shares of Installed Building Products in a report on Friday, November 6th. Truist Financial upped their price target on shares of Installed Building Products from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, November 6th. Royal Bank Of Canada cut their price target on shares of Installed Building Products from $208.00 to $194.00 and set a “sector perform” rating on the stock in a research report on Friday, November 6th. Finally, Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, September 27th. One research analyst has rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and an average price target of $229.83.

View Our Latest Research Report on Installed Building Products

Installed Building Products Stock Performance

Shares of IBP stock opened at $209.82 on Monday. The stock has a market capitalization of $5.58 billion, a PE ratio of 21.08, a PEG ratio of 10.55 and a beta of 1.65. The business’s 50 day simple moving average is $203.03 and its 200 day simple moving average is $244.07. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.12 and a quick ratio of 2.54. Installed Building Products has a one year low of $176.15 and a one year high of $349.00.

Installed Building Products (NYSE:IBP – Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The construction company reported $2.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.83 by ($0.07). The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $787.70 million. Installed Building Products had a return on equity of 39.86% and a net margin of 7.87%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.18 EPS. As a group, research analysts forecast that Installed Building Products will post 9.54 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.39 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. Installed Building Products’s dividend payout ratio is currently 17.75%.

Insider Activity

In other news, Director Janet Jackson sold 1,086 shares of the firm’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 completion of the sale, the director directly owned 5,142 shares in the company, valued at $1,218,962.52. This trade represents a 17.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 13.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in Installed Building Products in the 1st quarter valued at $30,000. Keating Financial Advisory Services Inc. bought a new stake in Installed Building Products during the 2nd quarter valued at $31,000. Parallel Advisors LLC increased its stake in Installed Building Products by 446.7% during the 1st quarter. Parallel Advisors LLC now owns 164 shares of the construction company’s stock valued at $44,000 after purchasing an additional 134 shares in the last quarter. Covestor Ltd raised its holdings in Installed Building Products by 47.6% during the third quarter. Covestor Ltd now owns 186 shares of the construction company’s stock worth $36,000 after buying an additional 60 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in Installed Building Products during the third quarter worth $37,000. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile

(Get Free Report)

Installed Building Products, Inc. is a U.S. building-products installation company headquartered in Columbus, Ohio. Founded in 1977, the company serves residential builders, commercial contractors, and homeowners through a network of local operating businesses across the United States. The company’s core business is installing insulation in new construction and existing buildings. Its offerings include fiberglass, cellulose, and spray-foam insulation, along with related weatherization services. Installed Building Products also installs complementary products such as garage doors, rain gutters, shower doors, and closet shelving.

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Analyst Recommendations for Installed Building Products (NYSE:IBP)

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