Installed Building Products (NYSE:IBP) Shares Up 6.2% Following Analyst Upgrade

Installed Building Products, Inc. (NYSE:IBP)’s stock price traded up 6.2% on Thursday after StoneX upgraded the stock from a hold rating to a buy rating. StoneX now has a $275.00 price target on the stock. Installed Building Products traded as high as $223.28 and last traded at $222.5850. Approximately 269,611 shares changed hands during trading, a decline of 33% from the average session volume of 403,180 shares. The stock had previously closed at $209.54.

A number of other research firms have also recently issued reports on IBP. Wells Fargo & Company cut their price target on Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. Melius Research assumed coverage on shares of Installed Building Products in a report on Tuesday, October 6th. They set a “hold” rating and a $217.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on shares of Installed Building Products from $208.00 to $194.00 and set a “sector perform” rating for the company in a research report on Friday, November 6th. Evercore set a $222.00 target price on shares of Installed Building Products in a research note on Friday, September 25th. Finally, Zacks Research lowered shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and an average price target of $233.31.

Insider Activity at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the transaction, the director directly owned 5,142 shares in the company, valued at approximately $1,218,962.52. The trade was a 17.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its stake in shares of Installed Building Products by 1.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,192 shares of the construction company’s stock worth $613,000 after purchasing an additional 47 shares in the last quarter. Lazard Asset Management LLC lifted its position in Installed Building Products by 5.0% during the first quarter. Lazard Asset Management LLC now owns 1,070 shares of the construction company’s stock worth $284,000 after acquiring an additional 51 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Installed Building Products by 5.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,101 shares of the construction company’s stock valued at $211,000 after purchasing an additional 52 shares during the period. Covestor Ltd grew its stake in shares of Installed Building Products by 47.6% in the third quarter. Covestor Ltd now owns 186 shares of the construction company’s stock valued at $36,000 after acquiring an additional 60 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in shares of Installed Building Products by 2.6% during the first quarter. Glenmede Trust Co. NA now owns 2,537 shares of the construction company’s stock worth $673,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Performance

The stock has a market cap of $5.89 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 10.55 and a beta of 1.65. The stock has a 50 day simple moving average of $203.03 and a 200 day simple moving average of $244.07. The company has a current ratio of 3.12, a quick ratio of 2.54 and a debt-to-equity ratio of 1.47.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, November 5th. The construction company reported $2.76 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $787.70 million. During the same quarter in the previous year, the company earned $3.18 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts expect that Installed Building Products, Inc. will post 9.54 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. Stockholders of record on Tuesday, December 15th will be given a $0.39 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. Installed Building Products’s payout ratio is 17.75%.

About Installed Building Products

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.