Installed Building Products (NYSE:IBP) Stock Gets Price Target Reduction from The Goldman Sachs Group

Installed Building Products (NYSE:IBP) had its price objective reduced by The Goldman Sachs Group from $297.00 to $257.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada lowered their price target on Installed Building Products from $228.00 to $208.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Melius Research started coverage on shares of Installed Building Products in a research note on Tuesday, October 6th. They issued a “hold” rating and a $217.00 target price for the company. Zacks Research upgraded shares of Installed Building Products from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Finally, Evercore set a $222.00 target price on shares of Installed Building Products in a report on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $234.50.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $179.69 on Monday. The company has a market cap of $4.78 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 8.41 and a beta of 1.71. Installed Building Products has a 52 week low of $176.15 and a 52 week high of $349.00. The business has a 50 day moving average price of $217.97 and a 200-day moving average price of $230.84. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The company had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company earned $2.95 earnings per share. Equities analysts anticipate that Installed Building Products will post 9.86 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.9%. Installed Building Products’s dividend payout ratio (DPR) is currently 16.79%.

Insider Activity at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director directly owned 5,142 shares in the company, valued at $1,218,962.52. The trade was a 17.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Installed Building Products

Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in shares of Installed Building Products in the second quarter valued at approximately $12,305,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Installed Building Products by 3.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 133,953 shares of the construction company’s stock valued at $35,518,000 after buying an additional 5,042 shares in the last quarter. Hsbc Holdings PLC bought a new position in Installed Building Products in the 2nd quarter worth approximately $20,435,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Installed Building Products in the 2nd quarter worth approximately $1,528,000. Finally, WINTON GROUP Ltd bought a new position in Installed Building Products in the 2nd quarter worth approximately $1,180,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

About Installed Building Products

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.