Installed Building Products (IBP) News Today

Installed Building Products, Inc. (NYSE: IBP) shares have climbed after the company reported record second-quarter results, beat earnings estimates, declared a dividend and hit a new one-year high. Offsetting this momentum, analysts at Loop Capital downgraded the stock and brokerages collectively maintain a “Hold” rating.

• Positive Sentiment: Record Q2 results with net revenue up 3.1% to $760.3 million and EPS of $2.95, topping estimates. Business Wire
• Positive Sentiment: Reached a new one-year high following the better-than-expected earnings report. MarketBeat
• Positive Sentiment: Declared a quarterly dividend of $0.37 per share, representing a 0.6% yield.
• Positive Sentiment: Shares trading up 17.8%, fueling “time to buy” speculation. MarketBeat
• Neutral Sentiment: Consensus recommendation of “Hold” from eleven brokerages covering the stock. MarketBeat
• Negative Sentiment: Loop Capital downgraded the stock from “Buy” to “Hold” with a $255 price target, implying a 0.7% downside. The Fly