Installed Building Products, Inc. (NYSE:IBP) Stock Has Average Target Price of $229.08

Shares of Installed Building Products, Inc. (NYSE:IBP) have been given an average rating of “Hold” by the fourteen analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $229.92.

A number of research analysts have recently commented on the company. Truist Financial upped their price target on Installed Building Products from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Friday. Wall Street Zen cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, September 27th. Melius Research initiated coverage on shares of Installed Building Products in a research report on Tuesday, October 6th. They set a “hold” rating and a $217.00 price target for the company. DA Davidson increased their price objective on shares of Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th.

Insiders Place Their Bets

In other news, Director Janet Jackson sold 1,086 shares of the stock in a transaction that occurred 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 transaction, the director owned 5,142 shares in the company, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

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

Installed Building Products News Summary

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

Installed Building Products Trading Down 1.4%

NYSE IBP opened at $220.03 on Friday. The stock has a market cap of $5.85 billion, a P/E ratio of 20.95, a P/E/G ratio of 8.76 and a beta of 1.65. Installed Building Products has a 12-month low of $176.15 and a 12-month high of $349.00. The company has a fifty day simple moving average of $204.57 and a two-hundred day simple moving average of $245.38. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62.

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

Installed Building Products Dividend Announcement

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

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.