Truist Financial Issues Positive Forecast for Installed Building Products (NYSE:IBP) Stock Price

Installed Building Products (NYSE:IBP) had its target price lifted by Truist Financial from $160.00 to $180.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a hold rating on the construction company’s stock.

Several other equities analysts have also commented on IBP. Evercore set a $222.00 target price on shares of Installed Building Products in a report on Friday, September 25th. Melius Research began coverage on shares of Installed Building Products in a research note on Tuesday, October 6th. They issued a “hold” rating and a $217.00 price target for the company. The Goldman Sachs Group restated a “buy” rating and set a $261.00 price target on shares of Installed Building Products in a research report on Friday. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, September 27th. Finally, Stifel Nicolaus reduced their price objective on Installed Building Products from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $229.92.

Installed Building Products Price Performance

NYSE:IBP traded down $3.05 during mid-day trading on Friday, reaching $220.03. The stock had a trading volume of 346,440 shares, compared to its average volume of 394,223. The stock has a market capitalization of $5.85 billion, a P/E ratio of 25.03, a P/E/G ratio of 8.76 and a beta of 1.65. The firm has a 50 day moving average price of $204.57 and a two-hundred day moving average price of $245.38. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. Installed Building Products has a one year low of $176.15 and a one year high of $349.00.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, November 5th. The construction company reported $2.76 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). The business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $787.70 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.18 earnings per share. As a group, analysts expect that Installed Building Products will post 9.75 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, December 15th. Installed Building Products’s dividend payout ratio is currently 16.79%.

Insider Activity

In related news, Director Janet Jackson sold 1,086 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the transaction, the director owned 5,142 shares in the company, valued at $1,218,962.52. The trade was a 17.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Installed Building Products

Institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. lifted its stake in Installed Building Products by 82.6% in the third quarter. Russell Investments Group Ltd. now owns 42,222 shares of the construction company’s stock worth $8,102,000 after acquiring an additional 19,104 shares during the period. Fifth Third Bancorp increased its position in Installed Building Products by 5.3% during the 3rd quarter. Fifth Third Bancorp now owns 10,679 shares of the construction company’s stock valued at $2,049,000 after purchasing an additional 540 shares during the period. Maryland State Retirement & Pension System raised its holdings in Installed Building Products by 54.7% in the 3rd quarter. Maryland State Retirement & Pension System now owns 5,081 shares of the construction company’s stock worth $975,000 after purchasing an additional 1,797 shares in the last quarter. Jacobi Capital Management LLC bought a new position in Installed Building Products in the 3rd quarter worth $75,000. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Installed Building Products by 10.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 30,405 shares of the construction company’s stock worth $5,834,000 after purchasing an additional 2,774 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products News Roundup

Here are the key news stories impacting Installed Building Products this week:

• Positive Sentiment: Third-quarter revenue rose 3.9% year over year to a record $808.4 million, topping expectations of $787.7 million. IBP also declared a quarterly dividend of $0.39 per share. Company results and dividend announcement
• Neutral Sentiment: Truist raised its price target from $160 to $180 but maintained a Hold rating. The higher target is still below the stock’s cited $220.03 price, making the revision a mixed signal. Truist analyst recommendations
• Negative Sentiment: Adjusted EPS of $2.76 missed analyst expectations of about $2.83 and declined from $3.18 a year earlier. The earnings shortfall may weigh on sentiment despite the revenue beat. Quarterly results coverage
• Negative Sentiment: Royal Bank of Canada cut its price target from $208 to $194 and retained a Sector Perform rating, implying downside from the cited current price. Royal Bank of Canada analyst recommendations

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.