Installed Building Products (NYSE:IBP) Upgraded to Buy 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 research note published on Saturday morning.

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Installed Building Products in a research note on Monday, December 29th. Evercore ISI set a $265.00 target price on shares of Installed Building Products in a research report on Thursday, November 6th. Wells Fargo & Company began coverage on shares of Installed Building Products in a report on Monday, November 17th. They issued an “equal weight” rating for the company. Jefferies Financial Group boosted their price objective on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a research note on Monday, December 15th. Finally, Zacks Research raised Installed Building Products from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $226.20.

Installed Building Products Price Performance

NYSE:IBP opened at $295.88 on Friday. The business’s 50-day moving average is $263.32 and its 200 day moving average is $247.23. Installed Building Products has a 12 month low of $150.83 and a 12 month high of $296.71. The company has a market capitalization of $8.03 billion, a P/E ratio of 31.85, a P/E/G ratio of 5.47 and a beta of 1.91. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 1.25.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. The business had revenue of $778.20 million for the quarter, compared to the consensus estimate of $751.98 million. Installed Building Products had a return on equity of 62.74% and a net margin of 8.60%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.85 EPS. On average, equities research analysts forecast that Installed Building Products will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.48 annualized dividend and a yield of 0.5%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.93%.

Insider Buying and Selling

In other news, insider William Jeffrey Hire sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the transaction, the insider owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael H. Thomas sold 2,001 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total value of $536,828.28. Following the completion of the sale, the director owned 8,373 shares in the company, valued at approximately $2,246,308.44. The trade was a 19.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its stake in Installed Building Products by 36.7% in the 1st quarter. Advisors Asset Management Inc. now owns 555 shares of the construction company’s stock worth $95,000 after acquiring an additional 149 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Installed Building Products by 3.6% during the 1st 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 in the last quarter. United Services Automobile Association purchased a new position in shares of Installed Building Products during the first quarter valued at $263,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Installed Building Products by 190.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,292 shares of the construction company’s stock valued at $51,831,000 after acquiring an additional 198,391 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Installed Building Products by 270.0% in the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock valued at $2,948,000 after acquiring an additional 12,545 shares in the last quarter. Institutional investors 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.