Installed Building Products (NYSE:IBP) Downgraded by Danske to "Hold"

Key Points

• Installed Building Products has been downgraded by Danske from a "buy" rating to a "hold" rating, with a price objective of $252.00, indicating a potential downside of 0.28% from its current stock price.
• Multiple analysts have reassessed their ratings, with Loop Capital also downgrading to "hold" and setting a target of $255.00, while Royal Bank of Canada maintained an "underperform" rating with a target price increase to $184.00.
• The company reported strong quarterly earnings, with an EPS of $2.95, surpassing estimates, and revenue of $760.30 million, a 3.1% increase year-over-year.

Danske downgraded shares of Installed Building Products (NYSE:IBP - Free Report) from a buy rating to a hold rating in a report issued on Tuesday morning, MarketBeat reports. Danske currently has $252.00 target price on the construction company's stock.

Several other equities research analysts have also recently issued reports on the company. Benchmark decreased their price objective on Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Royal Bank Of Canada reissued an "underperform" rating and issued a $184.00 price objective (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Finally, Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target for the company. in a report on Friday, August 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $217.36.

Installed Building Products Stock Performance

NYSE:IBP traded up $1.16 during mid-day trading on Tuesday, reaching $267.93. The company's stock had a trading volume of 489,715 shares, compared to its average volume of 669,603. Installed Building Products has a 12-month low of $150.83 and a 12-month high of $275.76. The stock has a market cap of $7.32 billion, a P/E ratio of 29.80 and a beta of 1.73. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. The firm's fifty day moving average price is $199.54 and its two-hundred day moving average price is $180.31.

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

Installed Building Products Announces Dividend

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

Insider Activity at Installed Building Products

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

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its stake in shares of Installed Building Products by 14.0% during the second quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company's stock worth $78,000 after purchasing an additional 54 shares during the period. McIlrath & Eck LLC increased its holdings in shares of Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after purchasing an additional 61 shares during the period. Inspire Advisors LLC grew its position 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 worth $874,000 after acquiring an additional 61 shares in the last quarter. Xponance Inc. raised its stake in Installed Building Products by 3.9% in the first quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock worth $309,000 after buying an additional 67 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in shares of Installed Building Products by 1.7% during the first quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock valued at $716,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors 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.