Installed Building Products, Inc. (NYSE:IBP) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Wall Street sentiment is cautious: Installed Building Products has a consensus rating of “Hold” from 15 analysts, with 13 holds, one sell, and one buy. The average 12-month price target is about $247.67.
• Recent analyst price targets were cut: Stephens, JPMorgan, Wells Fargo, and Truist all lowered their targets in May, with JPMorgan dropping its target the most, from $284 to $195.
• Latest results missed expectations: The company reported Q1 earnings of $1.79 per share versus the $1.96 estimate, and revenue of $660.5 million also came in slightly below forecasts. Revenue fell 3.5% from the same quarter a year ago.

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) has been given a consensus rating of "Hold" by the fifteen analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $247.6667.

Several equities research analysts recently weighed in on IBP shares. Stephens dropped their price target on Installed Building Products from $300.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price target on Installed Building Products from $284.00 to $195.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 13th. Wells Fargo & Company decreased their price objective on Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating for the company in a report on Friday, May 8th. Wall Street Zen lowered Installed Building Products from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Finally, Truist Financial dropped their target price on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating on the stock in a report on Friday, May 8th.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler bought 716 shares of the firm's stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $209.13 per share, with a total value of $149,737.08. Following the completion of the purchase, the chief operating officer owned 14,988 shares of the company's stock, valued at approximately $3,134,440.44. This trade represents a 5.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Thomas Miller bought 990 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $200.62 per share, with a total value of $198,613.80. Following the purchase, the chief financial officer directly owned 34,209 shares of the company's stock, valued at approximately $6,863,009.58. This represents a 2.98% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 5,036 shares of company stock worth $1,042,807. Insiders own 13.80% of the company's stock.

Institutional Trading of Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MGO One Seven LLC grew its holdings in shares of Installed Building Products by 3.1% during the fourth quarter. MGO One Seven LLC now owns 1,133 shares of the construction company's stock valued at $294,000 after buying an additional 34 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Installed Building Products by 2.6% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 1,396 shares of the construction company's stock valued at $362,000 after acquiring an additional 35 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Installed Building Products by 2.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 1,819 shares of the construction company's stock worth $472,000 after acquiring an additional 35 shares during the last quarter. Maryland State Retirement & Pension System raised its holdings in Installed Building Products by 1.1% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,315 shares of the construction company's stock worth $860,000 after acquiring an additional 35 shares during the last quarter. Finally, Abel Hall LLC lifted its position in Installed Building Products by 2.8% in the 1st quarter. Abel Hall LLC now owns 1,289 shares of the construction company's stock valued at $342,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Installed Building Products Price Performance

IBP stock opened at $224.91 on Thursday. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.35 and a quick ratio of 2.76. Installed Building Products has a 1 year low of $193.11 and a 1 year high of $349.00. The firm has a 50-day moving average of $216.32 and a 200 day moving average of $265.58. The company has a market cap of $6.06 billion, a P/E ratio of 23.98, a PEG ratio of 5.32 and a beta of 1.69.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The firm had revenue of $660.50 million for the quarter, compared to the consensus estimate of $668.92 million. During the same period in the previous year, the firm posted $2.08 earnings per share. The business's revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that Installed Building Products will post 9.57 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Installed Building Products's dividend payout ratio (DPR) is 16.63%.

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.

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