Installed Building Products, Inc. (NYSE:IBP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Installed Building Products, Inc. (NYSE:IBP) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and six have 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 $208.40.

A number of brokerages have issued reports on IBP. Evercore ISI lifted their target price on shares of Installed Building Products from $226.00 to $272.00 and gave the company an “outperform” rating in a research note on Tuesday, April 2nd. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group reiterated a “buy” rating on shares of Installed Building Products in a report on Thursday, February 1st. DA Davidson began coverage on Installed Building Products in a report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut shares of Installed Building Products from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $199.00 to $242.00 in a research note on Wednesday, February 28th.

Installed Building Products Trading Up 0.1 %

Shares of NYSE IBP opened at $224.51 on Friday. 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 one year low of $103.50 and a one year high of $263.76. The business has a 50-day moving average price of $236.81 and a two-hundred day moving average price of $183.78. The firm has a market capitalization of $6.39 billion, a PE ratio of 26.08 and a beta of 1.89.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business had revenue of $720.70 million during the quarter, compared to analyst estimates of $688.59 million. During the same period in the prior year, the firm earned $2.34 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. As a group, analysts predict that Installed Building Products will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were given a $1.60 dividend. This is an increase from Installed Building Products’s previous quarterly dividend of $0.33. This represents a $6.40 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Thursday, March 14th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.26%.

Insider Buying and Selling

In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the sale, the chief operating officer now owns 6,679 shares of the company’s stock, valued at approximately $1,631,145.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the transaction, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brad A. Wheeler sold 1,119 shares of the stock in a transaction dated Friday, March 8th. The shares were 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. In the last 90 days, insiders sold 6,619 shares of company stock valued at $1,606,732. Insiders own 17.30% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Installed Building Products by 10.0% in the first quarter. BlackRock Inc. now owns 4,454,884 shares of the construction company’s stock valued at $507,990,000 after purchasing an additional 405,604 shares in the last quarter. Vanguard Group Inc. increased its holdings in Installed Building Products by 13.2% in the 1st 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 acquired a new position in shares of Installed Building Products in the 4th quarter valued at $58,696,000. Stephens Investment Management Group LLC bought a new position in shares of Installed Building Products during the 2nd quarter worth about $29,964,000. Finally, Norges Bank acquired a new stake in shares of Installed Building Products during the 4th quarter valued at about $37,583,000. 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.