Installed Building Products, Inc. (NYSE:IBP) Given Average Recommendation of “Reduce” by Brokerages

Installed Building Products, Inc. (NYSE:IBP) has been given an average rating of “Reduce” by the fifteen research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $247.6667.

IBP has been the topic of several research analyst reports. Zacks Research downgraded Installed Building Products from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Wells Fargo & Company dropped their target price on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a research report on Friday, May 8th. Royal Bank Of Canada set a $242.00 price objective on shares of Installed Building Products in a research note on Monday, May 11th. Benchmark cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 13th.

Insider Buying and Selling

In related news, CFO Michael Thomas Miller acquired 2,400 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $207.82 per share, for a total transaction of $498,768.00. Following the completion of the purchase, the chief financial officer owned 33,219 shares in the company, valued at approximately $6,903,572.58. The trade was a 7.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brad A. Wheeler bought 716 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $209.13 per share, with a total value of $149,737.08. Following the completion of the acquisition, the chief operating officer owned 14,988 shares of the company’s stock, valued at $3,134,440.44. This trade represents a 5.02% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 4,046 shares of company stock valued at $844,194 in the last three months. 13.80% of the stock is currently owned by insiders.

Institutional Trading of Installed Building Products

Several hedge funds have recently added to or reduced their stakes in the company. MGO One Seven LLC grew its holdings in Installed Building Products by 3.1% during the 4th quarter. MGO One Seven LLC now owns 1,133 shares of the construction company’s stock worth $294,000 after acquiring an additional 34 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Installed Building Products by 2.6% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 1,396 shares of the construction company’s stock worth $362,000 after purchasing an additional 35 shares during the last quarter. Abel Hall LLC lifted its position in shares of Installed Building Products by 2.8% during the 1st quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock worth $342,000 after purchasing an additional 35 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Installed Building Products by 2.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company’s stock worth $472,000 after purchasing an additional 35 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its holdings in Installed Building Products by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company’s stock valued at $860,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Performance

NYSE:IBP opened at $206.11 on Wednesday. Installed Building Products has a fifty-two week low of $162.56 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. The company has a 50 day moving average price of $249.36 and a 200 day moving average price of $275.52. The stock has a market capitalization of $5.55 billion, a P/E ratio of 21.97, a PEG ratio of 4.94 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The firm had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $668.92 million. During the same period in the previous year, the firm earned $2.08 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities research analysts forecast that Installed Building Products will post 9.62 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.8%. Installed Building Products’s dividend payout ratio is currently 16.63%.

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.