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 published on Saturday,Wall Street Zen reports.

A number of other research analysts have also commented on the company. DA Davidson upped their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Wells Fargo & Company decreased their price objective on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, September 11th. Evercore set a $246.00 target price on shares of Installed Building Products in a research report on Friday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Finally, Zacks Research upgraded shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Installed Building Products currently has an average rating of “Hold” and a consensus target price of $247.55.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $203.05 on Friday. The company’s fifty day simple moving average is $230.35 and its two-hundred day simple moving average is $241.79. Installed Building Products has a 12-month low of $193.11 and a 12-month high of $349.00. The firm has a market cap of $5.40 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 3.68 and a beta of 1.71. 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 issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.55 by $0.36. The firm had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 earnings per share. As a group, equities analysts expect that Installed Building Products will post 9.89 EPS for the current year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is presently 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 shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director owned 5,142 shares of the company’s stock, valued at $1,218,962.52. The trade was a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Installed Building Products

Several large investors have recently made changes to their positions in IBP. Anchor Investment Management LLC boosted its position in shares of Installed Building Products by 11.7% in the 2nd quarter. Anchor Investment Management LLC now owns 1,340 shares of the construction company’s stock worth $308,000 after purchasing an additional 140 shares in the last quarter. WINTON GROUP Ltd bought a new position in Installed Building Products during the 2nd quarter valued at approximately $1,180,000. Engineers Gate Manager LP bought a new position in Installed Building Products during the 2nd quarter valued at approximately $695,000. Summit Financial Strategies Inc. raised its stake in Installed Building Products by 79.2% during the second quarter. Summit Financial Strategies Inc. now owns 5,189 shares of the construction company’s stock valued at $1,193,000 after buying an additional 2,293 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its stake in Installed Building Products by 27.0% during the second quarter. Beacon Investment Advisory Services Inc. now owns 15,203 shares of the construction company’s stock valued at $3,494,000 after buying an additional 3,229 shares during the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.