Installed Building Products (NYSE:IBP) Upgraded at StoneX

StoneX upgraded shares of Installed Building Products (NYSE:IBP – Free Report) from a hold rating to a buy rating in a report released on Thursday,FinViz reports. They currently have $275.00 price objective on the construction company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Evercore set a $222.00 price target on shares of Installed Building Products in a research note on Friday, September 25th. Zacks Research lowered shares of Installed Building Products from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 10th. The Goldman Sachs Group restated a “buy” rating and set a $261.00 price objective on shares of Installed Building Products in a research note on Friday, November 6th. Wells Fargo & Company decreased their target price on shares of 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. Finally, DA Davidson dropped their target price on shares of 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. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $235.21.

Get Our Latest Stock Analysis on IBP

Installed Building Products Stock Up 1.9%

Installed Building Products stock traded up $4.26 during mid-day trading on Thursday, hitting $228.02. The company had a trading volume of 934,026 shares, compared to its average volume of 431,205. The company has a current ratio of 3.12, a quick ratio of 2.54 and a debt-to-equity ratio of 1.47. The stock’s 50 day moving average price is $202.62 and its two-hundred day moving average price is $243.39. Installed Building Products has a 12 month low of $176.15 and a 12 month high of $349.00. The company 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.

Installed Building Products (NYSE:IBP – Get Free Report) last released its earnings results on Thursday, November 5th. The construction company reported $2.76 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 company had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $787.70 million. During the same period in the prior year, the company posted $3.18 earnings per share. The company’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Installed Building Products will post 9.54 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

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

Insider Activity

In related news, Director Janet Jackson sold 1,086 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director directly owned 5,142 shares of the company’s stock, valued at $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 13.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds have recently bought and sold shares of IBP. Marshall Wace LLP bought a new position in Installed Building Products during the 3rd quarter valued at about $19,500,000. Empowered Funds LLC grew its stake in shares of Installed Building Products by 36.3% in the third quarter. Empowered Funds LLC now owns 3,228 shares of the construction company’s stock worth $619,000 after acquiring an additional 859 shares during the period. Caxton Associates LLP bought a new stake in shares of Installed Building Products in the third quarter worth approximately $2,369,000. Benjamin Edwards Inc. grew its stake in shares of Installed Building Products by 2.5% in the third quarter. Benjamin Edwards Inc. now owns 4,000 shares of the construction company’s stock worth $769,000 after acquiring an additional 98 shares during the period. Finally, Advisors Asset Management Inc. purchased a new position in shares of Installed Building Products during the third quarter valued at approximately $1,197,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Top Installed Building Products Stories

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Installed Building Products Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Installed Building Products (NYSE:IBP)

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