Installed Building Products (NYSE:IBP) Stock Moved Up to “Strong-Buy” by Stonex Financial

Stonex Financial upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a strong-buy rating in a research report sent to investors on Thursday,Zacks reports.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $261.00 price target on shares of Installed Building Products in a report on Friday, November 6th. Stifel Nicolaus lowered Installed Building Products from a “buy” rating to a “hold” rating and increased their price target for the company from $220.00 to $225.00 in a research report on Monday, November 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. DA Davidson dropped their price target on Installed Building Products from $250.00 to $244.00 and set a “neutral” rating on the stock in a research note on Monday, November 9th. Finally, Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, September 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $235.21.

Installed Building Products Stock Performance

Shares of IBP traded up $4.26 during midday trading on Thursday, hitting $228.02. 934,026 shares of the stock traded hands, compared to its average volume of 431,205. Installed Building Products has a 1-year low of $176.15 and a 1-year high of $349.00. The firm has a market capitalization of $6.06 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 11.11 and a beta of 1.65. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.54 and a current ratio of 3.12. The business’s 50 day moving average price is $202.62 and its two-hundred day moving average price is $243.39.

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 analysts’ consensus estimates of $2.83 by ($0.07). Installed Building Products had a return on equity of 39.86% and a net margin of 7.87%. The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $787.70 million. During the same period last year, the company earned $3.18 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts predict that Installed Building Products will post 9.54 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. Installed Building Products’s dividend payout ratio (DPR) is presently 17.75%.

Insider Buying and Selling

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director directly owned 5,142 shares of the company’s stock, valued at $1,218,962.52. This represents a 17.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Installed Building Products

Institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd acquired a new stake in Installed Building Products in the 2nd quarter valued at approximately $1,180,000. Legal & General Group Plc acquired a new position in shares of Installed Building Products during the second quarter worth approximately $12,305,000. Hsbc Holdings PLC bought a new position in Installed Building Products during the second quarter worth $20,435,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Installed Building Products during the second quarter worth $1,528,000. Finally, Bank of America Corp DE raised its stake in Installed Building Products by 51.8% during the 1st quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock valued at $79,208,000 after purchasing an additional 101,967 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products News Roundup

Here’s some of the latest news about IBP:

• Positive Sentiment: The Old Dominion acquisition broadens IBP’s commercial and industrial presence, adding a potential growth avenue beyond its existing business. Article: Installed Building Products acquisition expands commercial installation platform
• Positive Sentiment: StoneX raised its rating on IBP from Hold to Buy and set a $275 price target, providing a bullish analyst signal. Article: Installed Building Products rating raised to Buy at StoneX
• Negative Sentiment: Zacks Research downgraded IBP from Hold to Strong Sell, underscoring that analyst opinion is divided and adding a bearish counterpoint to the deal-driven optimism. Article: Zacks Research rating change

Installed Building Products Company Profile

Installed Building Products, Inc. is a U.S. building-products installation company headquartered in Columbus, Ohio. Founded in 1977, the company serves residential builders, commercial contractors, and homeowners through a network of local operating businesses across the United States. The company’s core business is installing insulation in new construction and existing buildings. Its offerings include fiberglass, cellulose, and spray-foam insulation, along with related weatherization services. Installed Building Products also installs complementary products such as garage doors, rain gutters, shower doors, and closet shelving.