Installed Building Products, Inc. (NYSE:IBP) Receives $247.67 Average PT from Analysts

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

A number of brokerages have recently issued reports on IBP. Evercore set a $226.00 target price on Installed Building Products in a research note on Friday, May 8th. Weiss Ratings downgraded Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. DA Davidson reaffirmed a “neutral” rating and set a $242.00 price objective on shares of Installed Building Products in a report on Monday, June 1st. JPMorgan Chase & Co. reduced their target price on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a report on Wednesday, May 13th. Finally, Stephens decreased their target price on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th.

Insider Activity at Installed Building Products

In related news, COO Brad A. Wheeler purchased 716 shares of Installed Building Products stock in a transaction dated Monday, May 11th. The stock was bought at an average cost of $209.13 per share, for a total transaction of $149,737.08. Following the transaction, the chief operating officer owned 14,988 shares in the company, valued at approximately $3,134,440.44. The trade was a 5.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jason R. Niswonger purchased 455 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $214.80 per share, for a total transaction of $97,734.00. Following the purchase, the insider directly owned 17,122 shares in the company, valued at approximately $3,677,805.60. This represents a 2.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have purchased 4,046 shares of company stock valued at $844,194. 13.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently bought and sold shares of the company. Danske Bank A S acquired a new stake in Installed Building Products in the third quarter valued at $25,000. NewEdge Advisors LLC raised its stake in shares of Installed Building Products by 5,000.0% during the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Installed Building Products during the 1st quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Installed Building Products in the 3rd quarter worth about $33,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock valued at $37,000 after acquiring an additional 133 shares during the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Down 0.2%

Shares of NYSE:IBP opened at $197.17 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 quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. The firm’s 50-day simple moving average is $251.76 and its 200-day simple moving average is $276.12. The company has a market cap of $5.31 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 4.88 and a beta of 1.71.

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

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued 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 yield of 0.8%. Installed Building Products’s payout ratio is currently 16.63%.

About Installed Building Products

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.