Installed Building Products (NYSE:IBP) Price Target Raised to $270.00

Installed Building Products (NYSE:IBP) had its price target boosted by DA Davidson from $252.00 to $270.00 in a research note published on Wednesday,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

A number of other equities research analysts have also recently commented on IBP. Vertical Research upgraded Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 price target for the company in a research note on Friday, February 27th. Royal Bank Of Canada lifted their target price on shares of Installed Building Products from $203.00 to $255.00 and gave the stock an “underperform” rating in a research note on Friday, February 27th. Weiss Ratings raised shares of Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Wells Fargo & Company lowered their price objective on shares of Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Finally, Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $257.73.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $258.49 on Wednesday. The company has a current ratio of 3.03, a quick ratio of 2.44 and a debt-to-equity ratio of 1.20. The stock’s fifty day moving average price is $308.38 and its 200-day moving average price is $277.04. The firm has a market cap of $6.97 billion, a P/E ratio of 26.57, a P/E/G ratio of 3.83 and a beta of 1.90. Installed Building Products has a 12 month low of $150.83 and a 12 month high of $349.00.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.41. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The firm had revenue of $747.50 million during the quarter, compared to analysts’ expectations of $738.97 million. During the same quarter in the prior year, the company earned $2.88 EPS. The company’s revenue was down .4% compared to the same quarter last year. On average, equities research analysts expect that Installed Building Products will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a special dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a dividend yield of 63.0%. Installed Building Products’s payout ratio is presently 16.03%.

Insider Activity

In related news, CEO Jeffrey W. Edwards sold 400,000 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total value of $125,624,000.00. Following the completion of the sale, the chief executive officer owned 1,727,819 shares in the company, valued at $542,638,835.14. This trade represents a 18.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Janet E. Jackson sold 1,410 shares of Installed Building Products stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the sale, the director directly owned 5,373 shares in the company, valued at $1,575,954.63. This represents a 20.79% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Hedge funds have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new position in Installed Building Products during the third quarter valued at approximately $25,000. NewEdge Advisors LLC raised its stake in shares of Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock valued at $25,000 after acquiring an additional 100 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Installed Building Products in the 3rd quarter valued at $33,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Installed Building Products by 700.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after acquiring an additional 133 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Installed Building Products during the 4th quarter valued at $43,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

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.