StockNews.com Lowers Installed Building Products (NYSE:IBP) to Hold

StockNews.com downgraded shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also issued reports on the company. The Goldman Sachs Group decreased their price target on Installed Building Products from $300.00 to $260.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Jefferies Financial Group increased their price target on Installed Building Products from $239.00 to $250.00 and gave the company a hold rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. decreased their price target on Installed Building Products from $242.00 to $227.00 and set a neutral rating for the company in a research note on Monday, May 13th. Benchmark increased their price target on Installed Building Products from $250.00 to $270.00 and gave the company a buy rating in a research note on Tuesday, May 14th. Finally, Royal Bank of Canada increased their price target on Installed Building Products from $216.00 to $220.00 and gave the company a sector perform rating in a research note on Friday, May 10th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Installed Building Products presently has a consensus rating of Hold and a consensus target price of $248.00.

Installed Building Products Stock Down 1.8 %

IBP opened at $231.70 on Wednesday. Installed Building Products has a 12 month low of $106.01 and a 12 month high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.67. The stock has a market cap of $6.59 billion, a P/E ratio of 26.21 and a beta of 1.93. The stock’s 50 day moving average price is $220.70 and its 200 day moving average price is $224.59.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.08 by $0.29. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The firm had revenue of $692.90 million for the quarter, compared to analysts’ expectations of $676.60 million. As a group, research analysts predict that Installed Building Products will post 11.2 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s dividend payout ratio is presently 15.84%.

Insider Transactions at Installed Building Products

In other news, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the completion of the sale, the insider now directly owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Janet E. Jackson sold 2,122 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $211.65, for a total value of $449,121.30. Following the completion of the sale, the director now owns 7,046 shares in the company, valued at $1,491,285.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason R. Niswonger sold 6,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the sale, the insider now owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company’s stock.

Institutional Trading of Installed Building Products

Hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC purchased a new stake in shares of Installed Building Products in the first quarter valued at $29,000. Russell Investments Group Ltd. raised its holdings in shares of Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock worth $25,000 after acquiring an additional 101 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Installed Building Products during the fourth quarter worth $25,000. Hexagon Capital Partners LLC raised its holdings in shares of Installed Building Products by 253.7% during the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Finally, Annapolis Financial Services LLC raised its holdings in shares of Installed Building Products by 45.7% during the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors 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.