Installed Building Products (NYSE:IBP) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Installed Building Products (NYSE:IBP) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also issued reports on IBP. Truist Financial reduced their price target on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Stephens lowered their price target on Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a report on Friday, May 8th. DA Davidson restated a “neutral” rating and set a $242.00 price objective on shares of Installed Building Products in a research note on Monday, June 1st. Wells Fargo & Company reduced their price objective on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a report on Friday, May 8th. Finally, Evercore set a $226.00 target price on shares of Installed Building Products in a research report on Friday, May 8th. One analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $247.67.

Installed Building Products Stock Performance

IBP opened at $224.31 on Monday. The business’s 50 day moving average is $216.06 and its 200-day moving average is $267.11. The stock has a market cap of $6.04 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 5.52 and a beta of 1.69. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. Installed Building Products has a twelve month low of $182.88 and a twelve month high of $349.00.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $668.92 million. During the same quarter in the prior year, the firm posted $2.08 earnings per share. The business’s quarterly revenue was down 3.5% on a year-over-year basis. On average, analysts predict that Installed Building Products will post 9.57 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 15th. Installed Building Products’s dividend payout ratio is 16.63%.

Insider Transactions at Installed Building Products

In other news, Director Lawrence A. Hilsheimer purchased 475 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $206.22 per share, with a total value of $97,954.50. Following the purchase, the director owned 28,468 shares in the company, valued at $5,870,670.96. This trade represents a 1.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brad A. Wheeler purchased 716 shares of the stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $209.13 per share, for a total transaction of $149,737.08. Following the completion of the transaction, the chief operating officer owned 14,988 shares in the company, valued at $3,134,440.44. This trade represents a 5.02% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 5,036 shares of company stock valued at $1,042,807. Company insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IBP. Ausbil Investment Management Ltd grew its holdings in Installed Building Products by 72.5% during the second quarter. Ausbil Investment Management Ltd now owns 8,026 shares of the construction company’s stock worth $1,798,000 after acquiring an additional 3,372 shares during the period. E. Ohman J or Asset Management AB raised its position in Installed Building Products by 27.3% in the second quarter. E. Ohman J or Asset Management AB now owns 15,711 shares of the construction company’s stock worth $3,611,000 after acquiring an additional 3,365 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in Installed Building Products by 15.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 8,125 shares of the construction company’s stock valued at $1,867,000 after acquiring an additional 1,080 shares during the last quarter. Revolve Wealth Partners LLC acquired a new stake in Installed Building Products in the 2nd quarter valued at about $246,000. Finally, Beacon Investment Advisory Services Inc. lifted its holdings in Installed Building Products by 27.0% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 15,203 shares of the construction company’s stock valued at $3,494,000 after acquiring an additional 3,229 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.