Installed Building Products, Inc. (NYSE:IBP) Stock Has Consensus Price Target of $245.36

Shares of Installed Building Products, Inc. (NYSE:IBP) have been assigned an average rating of “Hold” from the fourteen ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $236.83.

IBP has been the topic of several research analyst reports. DA Davidson boosted their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Zacks Research raised Installed Building Products from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. Stifel Nicolaus initiated coverage on Installed Building Products in a report on Monday, September 14th. They set a “buy” rating and a $240.00 target price for the company. Evercore set a $222.00 price target on shares of Installed Building Products in a report on Friday, September 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th.

Installed Building Products Trading Up 1.6%

NYSE:IBP opened at $187.41 on Tuesday. The company has a market capitalization of $4.98 billion, a P/E ratio of 20.17, a PEG ratio of 3.43 and a beta of 1.71. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. Installed Building Products has a 12 month low of $178.54 and a 12 month high of $349.00. The firm has a fifty day simple moving average of $221.81 and a 200-day simple moving average of $233.18.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The firm had revenue of $777.80 million for the quarter, compared to the consensus estimate of $743.33 million. During the same period in the prior year, the firm earned $2.95 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. On average, equities research analysts anticipate that Installed Building Products will post 9.89 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Installed Building Products’s dividend payout ratio is 16.79%.

Insider Buying and Selling at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the sale, the director owned 5,142 shares in the company, valued at $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBP. BlackRock Inc. purchased a new stake in shares of Installed Building Products in the second quarter worth about $1,055,034,000. Giverny Capital Inc. raised its position in Installed Building Products by 0.9% during the fourth quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock valued at $134,685,000 after acquiring an additional 4,500 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Installed Building Products by 52.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock valued at $92,138,000 after acquiring an additional 122,561 shares in the last quarter. Bank of America Corp DE lifted its holdings in Installed Building Products by 51.8% in the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock valued at $79,208,000 after acquiring an additional 101,967 shares during the period. Finally, Bamco Inc. NY purchased a new stake in Installed Building Products in the 2nd quarter worth approximately $45,580,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.