Installed Building Products, Inc. (NYSE:IBP) Receives $249.30 Consensus Price Target from Analysts

Shares of Installed Building Products, Inc. (NYSE:IBP) have received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $249.30.

IBP has been the subject of several analyst reports. DA Davidson boosted their target price on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Royal Bank Of Canada set a $242.00 price target on Installed Building Products in a research report on Monday, May 11th. Truist Financial cut their price objective on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. decreased their target price on Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 13th.

Installed Building Products Stock Up 0.9%

Shares of IBP stock opened at $246.88 on Monday. Installed Building Products has a one year low of $193.11 and a one year high of $349.00. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The stock has a fifty day moving average price of $229.30 and a 200 day moving average price of $257.12. The stock has a market cap of $6.56 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 4.59 and a beta of 1.70.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. During the same quarter in the prior year, the business posted $2.95 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts predict that Installed Building Products will post 9.82 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.39 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is currently 16.79%.

Insider Buying and Selling at Installed Building Products

In other news, CFO Michael Thomas Miller bought 990 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $200.62 per share, for a total transaction of $198,613.80. Following the completion of the transaction, the chief financial officer owned 34,209 shares of the company’s stock, valued at $6,863,009.58. This trade represents a 2.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Installed Building Products by 3.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock worth $2,423,000 after buying an additional 486 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Installed Building Products during the 1st quarter valued at $263,000. Jane Street Group LLC grew its stake in shares of Installed Building Products by 270.0% during the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after acquiring an additional 12,545 shares during the period. Hsbc Holdings PLC grew its stake in shares of Installed Building Products by 5.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after acquiring an additional 92 shares during the period. Finally, Jump Financial LLC boosted its holdings in Installed Building Products by 959.6% in the 2nd quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock worth $3,265,000 after buying an additional 16,400 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.