Brokerages Set Installed Building Products, Inc. (NYSE:IBP) Price Target at $229.30

Shares of Installed Building Products, Inc. (NYSE:IBPGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $229.30.

Several analysts recently issued reports on IBP shares. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Royal Bank of Canada raised their target price on Installed Building Products from $216.00 to $220.00 and gave the company a “sector perform” rating in a research note on Friday, May 10th. Loop Capital raised their target price on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Evercore ISI increased their price target on shares of Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a report on Monday, May 13th.

Get Our Latest Stock Analysis on IBP

Insider Activity at Installed Building Products

In related news, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the transaction, the insider now owns 13,159 shares in the company, valued at $3,024,464.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Installed Building Products news, insider Jason R. Niswonger sold 6,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $229.84, for a total value of $1,379,040.00. Following the transaction, the insider now owns 13,159 shares of the company’s stock, valued at $3,024,464.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Janet E. Jackson sold 2,122 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the completion of the transaction, the director now directly owns 7,046 shares in the company, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. Company insiders own 16.50% of the company’s stock.

Institutional Trading of Installed Building Products

Large investors have recently added to or reduced their stakes in the company. Panagora Asset Management Inc. acquired a new stake in Installed Building Products during the 4th quarter valued at $7,820,000. Channing Capital Management LLC purchased a new position in shares of Installed Building Products during the 4th quarter valued at $58,696,000. Ziegler Capital Management LLC purchased a new position in shares of Installed Building Products during the 4th quarter valued at $3,618,000. Van ECK Associates Corp grew its holdings in shares of Installed Building Products by 93.3% during the 4th quarter. Van ECK Associates Corp now owns 12,670 shares of the construction company’s stock valued at $2,316,000 after acquiring an additional 6,116 shares in the last quarter. Finally, Giverny Capital Inc. grew its holdings in shares of Installed Building Products by 1.1% during the 3rd quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company’s stock valued at $54,065,000 after acquiring an additional 4,542 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Stock Performance

IBP opened at $220.48 on Friday. Installed Building Products has a 1-year low of $106.01 and a 1-year high of $263.76. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.18 and a quick ratio of 2.67. The stock’s 50 day simple moving average is $227.41 and its 200 day simple moving average is $211.82. The stock has a market cap of $6.27 billion, a P/E ratio of 24.94 and a beta of 1.95.

Installed Building Products (NYSE:IBPGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.29. The company had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. As a group, equities analysts anticipate that Installed Building Products will post 11.2 EPS for the current fiscal year.

Installed Building Products Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 30th. Investors of record on Saturday, June 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.63%. Installed Building Products’s dividend payout ratio is presently 15.84%.

Installed Building Products Company Profile

(Get Free Report

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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Analyst Recommendations for Installed Building Products (NYSE:IBP)

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