Installed Building Products (NYSE:IBP - Free Report) had its price objective increased by Evercore ISI from $226.00 to $272.00 in a report released on Tuesday morning, Benzinga reports. They currently have an outperform rating on the construction company's stock.
Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered shares of Installed Building Products from an overweight rating to a neutral rating and lifted their price target for the company from $199.00 to $242.00 in a report on Wednesday, February 28th. The Goldman Sachs Group reaffirmed a buy rating on shares of Installed Building Products in a report on Thursday, February 1st. StockNews.com upgraded shares of Installed Building Products from a hold rating to a buy rating in a research report on Friday, February 16th. Loop Capital upgraded shares of Installed Building Products from a hold rating to a buy rating in a research report on Monday, January 8th. Finally, Royal Bank of Canada lifted their target price on shares of Installed Building Products from $188.00 to $216.00 and gave the stock a sector perform rating in a research report on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $208.40.
Get Our Latest Stock Report on IBP
Installed Building Products Price Performance
IBP stock traded down $4.16 during mid-day trading on Tuesday, hitting $253.10. The stock had a trading volume of 298,366 shares, compared to its average volume of 252,860. The company has a current ratio of 3.09, a quick ratio of 2.62 and a debt-to-equity ratio of 1.26. Installed Building Products has a 52 week low of $103.50 and a 52 week high of $263.76. The firm has a market capitalization of $7.18 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.59 and a beta of 1.89. The firm has a fifty day simple moving average of $224.53 and a 200 day simple moving average of $174.02.
Installed Building Products (NYSE:IBP - Get Free Report) last released its earnings results on Thursday, February 22nd. The construction company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.42 by $0.03. The firm had revenue of $720.70 million for the quarter, compared to analyst estimates of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $2.34 EPS. As a group, research analysts forecast that Installed Building Products will post 11.25 EPS for the current year.
Installed Building Products Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date was Thursday, March 14th. This is an increase from Installed Building Products's previous quarterly dividend of $0.33. Installed Building Products's payout ratio is presently 16.26%.
Insider Activity at Installed Building Products
In related news, COO Brad A. Wheeler sold 1,119 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $244.22, for a total transaction of $273,282.18. Following the transaction, the chief operating officer now owns 6,679 shares in the company, valued at approximately $1,631,145.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Todd R. Fry sold 500 shares of the company's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the completion of the sale, the chief accounting officer now owns 7,176 shares in the company, valued at approximately $1,675,596. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Brad A. Wheeler sold 1,119 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $244.22, for a total transaction of $273,282.18. Following the completion of the sale, the chief operating officer now owns 6,679 shares of the company's stock, valued at approximately $1,631,145.38. The disclosure for this sale can be found here. Insiders have sold 6,619 shares of company stock worth $1,606,732 in the last quarter. Company insiders own 17.90% of the company's stock.
Institutional Trading of Installed Building Products
Several institutional investors have recently made changes to their positions in IBP. BlackRock Inc. grew its stake in shares of Installed Building Products by 10.0% in the 1st quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company's stock worth $507,990,000 after acquiring an additional 405,604 shares in the last quarter. Vanguard Group Inc. grew its position in Installed Building Products by 13.2% during the first quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company's stock valued at $239,629,000 after buying an additional 329,661 shares during the period. Channing Capital Management LLC bought a new position in Installed Building Products during the fourth quarter valued at about $58,696,000. Stephens Investment Management Group LLC bought a new position in Installed Building Products during the second quarter valued at about $29,964,000. Finally, Norges Bank bought a new position in Installed Building Products during the fourth quarter valued at about $37,583,000. Institutional investors own 99.61% of the company's stock.
About Installed Building Products
(
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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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