Jefferies Financial Group Boosts Installed Building Products (NYSE:IBP) Price Target to $252.00

Installed Building Products (NYSE:IBP) had its price objective boosted by Jefferies Financial Group from $240.00 to $252.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a hold rating on the construction company’s stock.

Other analysts have also recently issued reports about the stock. StockNews.com downgraded shares of Installed Building Products from a buy rating to a hold rating in a research note on Friday, September 6th. Evercore ISI lifted their price target on Installed Building Products from $274.00 to $282.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Royal Bank of Canada upped their price objective on Installed Building Products from $201.00 to $203.00 and gave the company a sector perform rating in a research note on Friday, August 2nd. Stephens reiterated an equal weight rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Finally, Truist Financial raised their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a hold rating in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Installed Building Products presently has a consensus rating of Hold and an average target price of $255.40.

Installed Building Products Stock Performance

Shares of IBP stock opened at $238.67 on Wednesday. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The company’s fifty day moving average price is $225.08 and its two-hundred day moving average price is $227.13. The firm has a market capitalization of $6.79 billion, a P/E ratio of 27.00 and a beta of 1.94. 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 issued its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The firm had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. On average, research analysts anticipate that Installed Building Products will post 11.06 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Sunday, September 15th were given a $0.35 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.40 annualized dividend and a yield of 0.59%. Installed Building Products’s dividend payout ratio is presently 15.84%.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning raised its stake in Installed Building Products by 39.6% during the 3rd quarter. Creative Planning now owns 7,712 shares of the construction company’s stock valued at $1,899,000 after acquiring an additional 2,187 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Installed Building Products by 23.6% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 13,600 shares of the construction company’s stock worth $3,347,000 after purchasing an additional 2,600 shares during the period. Williams & Novak LLC acquired a new stake in Installed Building Products in the third quarter worth about $580,000. Diversified Trust Co increased its stake in Installed Building Products by 56.6% during the 3rd quarter. Diversified Trust Co now owns 3,164 shares of the construction company’s stock valued at $779,000 after buying an additional 1,143 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Installed Building Products by 41.7% during the 3rd quarter. GAMMA Investing LLC now owns 649 shares of the construction company’s stock worth $160,000 after buying an additional 191 shares in the last quarter. 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.