Installed Building Products (NYSE:IBP) PT Raised to $295.00 at The Goldman Sachs Group

Installed Building Products (NYSE:IBP) had its price objective boosted by The Goldman Sachs Group from $260.00 to $295.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada increased their target price on shares of Installed Building Products from $216.00 to $220.00 and gave the stock a sector perform rating in a report on Friday, May 10th. Truist Financial increased their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a hold rating in a report on Friday. Jefferies Financial Group increased their target price on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a hold rating in a report on Wednesday, July 17th. Benchmark raised their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a buy rating in a report on Tuesday, May 14th. Finally, Evercore ISI raised their price objective on shares of Installed Building Products from $274.00 to $282.00 and gave the stock an outperform rating in a report on Monday, July 15th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $255.20.

Installed Building Products Trading Up 1.8 %

NYSE IBP traded up $4.03 during trading on Friday, hitting $227.04. 153,002 shares of the company’s stock traded hands, compared to its average volume of 301,344. 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 fifty day moving average of $220.70 and a two-hundred day moving average of $225.16. The firm has a market cap of $6.46 billion, a P/E ratio of 25.23 and a beta of 1.93. Installed Building Products has a 12-month low of $106.01 and a 12-month high of $281.04.

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

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s dividend payout ratio is 15.84%.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, Director Janet E. Jackson sold 2,122 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the transaction, the director now owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Janet E. Jackson sold 2,122 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the sale, the director now owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the sale, the insider now directly 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. Insiders own 16.50% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Institutional investors and hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. bought a new stake in shares of Installed Building Products during the fourth quarter valued at approximately $7,820,000. Channing Capital Management LLC bought a new stake in shares of Installed Building Products during the fourth quarter valued at approximately $58,696,000. Vanguard Group Inc. grew its position in Installed Building Products by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares during the period. Duality Advisers LP grew its position in Installed Building Products by 32.2% in the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock worth $3,596,000 after purchasing an additional 3,389 shares during the period. Finally, Goodnow Investment Group LLC grew its position in Installed Building Products by 28.9% in the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock worth $16,897,000 after purchasing an additional 20,737 shares during the period. 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.