Brokerages Set Installed Building Products, Inc. (NYSE:IBP) Target Price at $222.80

Installed Building Products, Inc. (NYSE:IBP) has received an average recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $222.80.

A number of equities research analysts have recently issued reports on IBP shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Installed Building Products in a research note on Monday, December 8th. Zacks Research raised shares of Installed Building Products from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 28th. Evercore ISI set a $265.00 price objective on shares of Installed Building Products in a research note on Thursday, November 6th. Vertical Research initiated coverage on shares of Installed Building Products in a research note on Monday, October 20th. They issued a “sell” rating for the company. Finally, Wall Street Zen raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Monday, November 10th.

Insider Activity

In other Installed Building Products news, insider William Jeffrey Hire sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $251.63, for a total value of $1,258,150.00. Following the transaction, the insider directly owned 32,999 shares of the company’s stock, valued at $8,303,538.37. This represents a 13.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael H. Thomas sold 2,001 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total value of $536,828.28. Following the transaction, the director owned 8,373 shares of the company’s stock, valued at approximately $2,246,308.44. This trade represents a 19.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 16.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC lifted its position in shares of Installed Building Products by 3.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 1,265 shares of the construction company’s stock worth $343,000 after buying an additional 43 shares during the period. Amalgamated Bank raised its stake in Installed Building Products by 0.8% during the third quarter. Amalgamated Bank now owns 6,589 shares of the construction company’s stock worth $1,625,000 after acquiring an additional 50 shares in the last quarter. State of Wyoming raised its stake in Installed Building Products by 5.1% during the second quarter. State of Wyoming now owns 1,101 shares of the construction company’s stock worth $199,000 after acquiring an additional 53 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Installed Building Products by 14.0% during the second quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock valued at $78,000 after acquiring an additional 54 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Installed Building Products by 31.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company’s stock valued at $55,000 after purchasing an additional 54 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

Shares of IBP stock opened at $273.27 on Wednesday. The company’s fifty day simple moving average is $258.16 and its 200-day simple moving average is $233.72. Installed Building Products has a 52 week low of $150.83 and a 52 week high of $293.53. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 1.25. The company has a market cap of $7.41 billion, a PE ratio of 29.42, a P/E/G ratio of 5.01 and a beta of 1.90.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The firm had revenue of $778.20 million during the quarter, compared to analysts’ expectations of $751.98 million. During the same period in the prior year, the company earned $2.85 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Installed Building Products will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, December 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.5%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.93%.

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.