Analysts Set Installed Building Products, Inc. (NYSE:IBP) Price Target at $245.70

Installed Building Products, Inc. (NYSE:IBP) has earned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $256.89.

A number of research firms have weighed in on IBP. Jefferies Financial Group lifted their price target on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada lifted their price target on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Friday. Evercore ISI lifted their price target on shares of Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Benchmark lifted their price objective on Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Truist Financial lifted their price objective on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday.

Insider Transactions at Installed Building Products

In other news, insider Jason R. Niswonger sold 6,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the completion of the transaction, the insider now directly owns 13,159 shares in the company, valued at approximately $3,024,464.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason R. Niswonger sold 6,000 shares of the business’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 value of $1,379,040.00. Following the completion of the transaction, the insider now owns 13,159 shares of the company’s stock, valued at $3,024,464.56. The disclosure for this sale can be found here. Corporate insiders own 16.50% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Institutional investors and hedge funds have recently modified their holdings of the business. NBC Securities Inc. acquired a new position in shares of Installed Building Products in the 4th quarter valued at approximately $25,000. Russell Investments Group Ltd. grew its position in shares of Installed Building Products by 280.6% in the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after purchasing an additional 101 shares during the period. Hexagon Capital Partners LLC lifted its stake in Installed Building Products by 253.7% in the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock valued at $27,000 after acquiring an additional 104 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Installed Building Products during the 1st quarter worth approximately $29,000. Finally, Annapolis Financial Services LLC boosted its position in Installed Building Products by 45.7% during the 4th quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company’s stock worth $31,000 after acquiring an additional 53 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Price Performance

Shares of IBP opened at $231.74 on Friday. The firm has a market cap of $6.59 billion, a PE ratio of 26.21 and a beta of 1.93. The firm’s 50 day moving average price is $220.70 and its 200 day moving average price is $224.86. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.67 and a current ratio of 3.08. Installed Building Products has a twelve month low of $106.01 and a twelve month high of $281.04.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.08 by $0.29. The company had revenue of $692.90 million for the quarter, compared to the consensus estimate of $676.60 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. As a group, research analysts expect that Installed Building Products will post 11.2 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be given a $0.35 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.60%. Installed Building Products’s payout ratio is 15.84%.

Installed Building Products Company Profile

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.