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

Key Points

• Analysts maintain a “Hold” consensus on Installed Building Products, with 10 hold, one sell and one buy rating among 12 analysts. The average 12-month price target is $249.30.
• The company exceeded quarterly expectations, reporting $2.91 in EPS versus a $2.55 consensus estimate and revenue of $777.8 million, up 2.3% year over year.
• CFO Michael Thomas Miller purchased 990 shares, while institutional investors own 99.61% of the stock. Installed Building Products also declared a quarterly dividend of $0.39 per share, representing a 0.6% yield.

Shares of Installed Building Products, Inc. (NYSE:IBP - Get Free Report) have been given a consensus rating of "Hold" by the twelve analysts that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $249.30.

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating for the company in a research report on Friday, May 8th. DA Davidson raised their target price on Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Weiss Ratings downgraded Installed Building Products from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Evercore set a $246.00 price target on Installed Building Products in a report on Friday, August 7th. Finally, The Goldman Sachs Group decreased their price objective on Installed Building Products from $331.00 to $285.00 and set a "buy" rating on the stock in a research note on Friday, May 8th.

Insider Buying and Selling

In other news, CFO Michael Thomas Miller bought 990 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $200.62 per share, for a total transaction of $198,613.80. Following the purchase, the chief financial officer owned 34,209 shares in the company, valued at approximately $6,863,009.58. The trade was a 2.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.80% of the company's stock.

Hedge Funds Weigh In On Installed Building Products

Hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Installed Building Products in the second quarter worth about $1,055,034,000. Price T Rowe Associates Inc. MD raised its stake in Installed Building Products by 26.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company's stock valued at $402,356,000 after purchasing an additional 328,725 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in Installed Building Products by 4,659.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company's stock worth $30,996,000 after purchasing an additional 168,285 shares in the last quarter. Paralel Advisors LLC purchased a new position in Installed Building Products in the 2nd quarter worth approximately $37,924,000. Finally, Bank of New York Mellon Corp bought a new position in Installed Building Products in the 2nd quarter worth approximately $37,771,000. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Stock Performance

Shares of NYSE IBP opened at $240.18 on Monday. The firm has a 50 day moving average of $225.16 and a 200 day moving average of $258.55. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 4.53 and a beta of 1.70. Installed Building Products has a 12-month low of $193.11 and a 12-month high of $349.00.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business had revenue of $777.80 million during the quarter, compared to analysts' expectations of $743.33 million. During the same period in the prior year, the company earned $2.95 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. On average, research analysts anticipate that Installed Building Products will post 9.78 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products's dividend payout ratio is currently 16.79%.

About Installed Building Products

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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