Installed Building Products, Inc. (NYSE:IBP) Receives Consensus Rating of "Reduce" from Analysts

Key Points

• Installed Building Products, Inc. has received a consensus rating of “Reduce” from analysts, with three ratings as sell, eleven as hold, and two as buy.
• The company's latest earnings report exceeded expectations, with $2.95 earnings per share against an estimate of $2.45, along with a revenue increase of 3.1% year-over-year.
• Installed Building Products recently declared a quarterly dividend of $0.37 per share, resulting in an annual yield of 0.6% and a payout ratio of 16.46%.

Shares of Installed Building Products, Inc. (NYSE:IBP - Get Free Report) have been given an average recommendation of "Reduce" by the sixteen brokerages that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $220.4545.

IBP has been the subject of several research reports. Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a report on Friday, August 8th. Wall Street Zen downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Saturday, October 4th. Royal Bank Of Canada reissued an "underperform" rating and issued a $184.00 target price (up from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Vertical Research initiated coverage on Installed Building Products in a report on Monday. They issued a "sell" rating for the company. Finally, DA Davidson downgraded Installed Building Products from a "buy" rating to a "hold" rating and boosted their target price for the company from $225.00 to $252.00 in a report on Tuesday, August 12th.

Installed Building Products Trading Up 1.3%

NYSE:IBP opened at $260.35 on Tuesday. The stock has a 50-day simple moving average of $259.04 and a 200-day simple moving average of $206.65. The stock has a market cap of $7.11 billion, a P/E ratio of 28.96 and a beta of 1.83. Installed Building Products has a 1 year low of $150.83 and a 1 year high of $280.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.45 by $0.50. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The business had revenue of $760.30 million during the quarter, compared to the consensus estimate of $711.37 million. During the same period in the previous year, the business earned $2.84 EPS. The business's quarterly revenue was up 3.1% on a year-over-year basis. As a group, analysts anticipate that Installed Building Products will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.48 annualized dividend and a yield of 0.6%. Installed Building Products's dividend payout ratio is currently 16.46%.

Insider Buying and Selling

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the completion of the sale, the insider directly owned 37,999 shares of the company's stock, valued at $10,096,714.29. This represents a 14.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd R. Fry sold 500 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $257.27, for a total value of $128,635.00. Following the sale, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,655 shares of company stock valued at $3,123,578 in the last quarter. 16.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBP. State of Wyoming increased its position in shares of Installed Building Products by 5.1% during the second quarter. State of Wyoming now owns 1,101 shares of the construction company's stock worth $199,000 after acquiring an additional 53 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Installed Building Products by 14.0% in the second quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company's stock valued at $78,000 after buying an additional 54 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Installed Building Products by 31.8% in the third quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company's stock valued at $55,000 after buying an additional 54 shares during the last quarter. Osaic Holdings Inc. increased its holdings in Installed Building Products by 0.8% in the second quarter. Osaic Holdings Inc. now owns 7,524 shares of the construction company's stock valued at $1,357,000 after buying an additional 57 shares during the last quarter. Finally, Inspire Advisors LLC increased its holdings in Installed Building Products by 1.3% in the second quarter. Inspire Advisors LLC now owns 4,844 shares of the construction company's stock valued at $874,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company's stock.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.

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