Installed Building Products (NYSE:IBP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a report released on Monday.

Other research analysts also recently issued reports about the company. Jefferies Financial Group raised their price target on Installed Building Products from $175.00 to $225.00 and gave the company a “hold” rating in a research note on Tuesday, August 12th. Zelman & Associates raised Installed Building Products from an “underperform” rating to a “neutral” rating in a report on Friday, August 8th. Loop Capital downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 target price on the stock. in a report on Friday, August 8th. Danske cut shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price target for the company. in a research note on Tuesday, August 12th. Finally, Vertical Research initiated coverage on shares of Installed Building Products in a research report on Monday, October 20th. They issued a “sell” rating for the company. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $224.45.

Installed Building Products Stock Up 2.2%

Shares of IBP stock opened at $265.36 on Monday. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. Installed Building Products has a 1 year low of $150.83 and a 1 year high of $280.00. The firm’s fifty day moving average price is $256.06 and its two-hundred day moving average price is $217.80. The firm has a market capitalization of $7.20 billion, a P/E ratio of 29.52 and a beta of 1.81.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. The company had revenue of $778.20 million during the quarter, compared to the consensus estimate of $751.98 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.85 EPS. On average, equities analysts predict that Installed Building Products will post 10.66 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, December 15th. Installed Building Products’s dividend payout ratio (DPR) is currently 15.93%.

Insider Buying and Selling

In other Installed Building Products news, Director Janet E. Jackson sold 1,469 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $266.00, for a total transaction of $390,754.00. Following the completion of the sale, the director directly owned 6,873 shares in the company, valued at $1,828,218. This trade represents a 17.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Brad A. Wheeler sold 3,186 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the sale, the chief operating officer owned 8,736 shares of the company’s stock, valued at approximately $2,404,933.44. This represents a 26.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 9,655 shares of company stock valued at $2,525,978. Company insiders own 16.20% of the company’s stock.

Institutional Trading of Installed Building Products

Several hedge funds have recently added to or reduced their stakes in IBP. Segall Bryant & Hamill LLC boosted its stake in Installed Building Products by 2.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 68,202 shares of the construction company’s stock valued at $16,823,000 after purchasing an additional 1,664 shares during the period. Bahl & Gaynor Inc. lifted its holdings in shares of Installed Building Products by 32.7% during the third quarter. Bahl & Gaynor Inc. now owns 10,892 shares of the construction company’s stock worth $2,687,000 after buying an additional 2,681 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Installed Building Products in the third quarter valued at about $779,000. American Century Companies Inc. boosted its position in shares of Installed Building Products by 94.4% in the third quarter. American Century Companies Inc. now owns 73,542 shares of the construction company’s stock valued at $18,140,000 after acquiring an additional 35,703 shares during the period. Finally, Rafferty Asset Management LLC grew its stake in shares of Installed Building Products by 86.2% in the third quarter. Rafferty Asset Management LLC now owns 34,437 shares of the construction company’s stock valued at $8,494,000 after acquiring an additional 15,946 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.