Truist Financial Boosts Installed Building Products (NYSE:IBP) Price Target to $240.00

Installed Building Products (NYSE:IBP) had its price objective increased by Truist Financial from $235.00 to $240.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a hold rating on the construction company’s stock.

Other analysts have also issued research reports about the stock. Evercore ISI raised their price objective on shares of Installed Building Products from $274.00 to $282.00 and gave the stock an outperform rating in a report on Monday, July 15th. Loop Capital boosted their price objective on Installed Building Products from $250.00 to $270.00 and gave the stock a buy rating in a research note on Friday, May 10th. The Goldman Sachs Group lowered their target price on Installed Building Products from $300.00 to $260.00 and set a buy rating for the company in a research note on Wednesday, July 10th. Benchmark upped their price target on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a buy rating in a research report on Tuesday, May 14th. Finally, StockNews.com cut shares of Installed Building Products from a buy rating to a hold rating in a research report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $255.20.

Installed Building Products Price Performance

Shares of NYSE:IBP traded up $3.57 during midday trading on Friday, reaching $226.58. 228,061 shares of the company’s stock were exchanged, compared to its average volume of 301,937. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.67 and a current ratio of 3.08. The company’s 50 day simple moving average is $220.70 and its two-hundred day simple moving average is $225.16. Installed Building Products has a 12 month low of $106.01 and a 12 month high of $281.04. The firm has a market capitalization of $6.45 billion, a PE ratio of 25.23 and a beta of 1.93.

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, topping analysts’ consensus estimates of $2.08 by $0.29. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The firm had revenue of $692.90 million during the quarter, compared to analysts’ expectations of $676.60 million. Equities research analysts expect that Installed Building Products will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.40 annualized dividend and a yield of 0.62%. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Insider Activity

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

Institutional Trading of Installed Building Products

Several hedge funds and other institutional investors have recently bought and sold shares of IBP. Allspring Global Investments Holdings LLC acquired a new stake in shares of Installed Building Products during the 1st quarter worth $29,000. Russell Investments Group Ltd. increased its holdings in 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 buying an additional 101 shares during the period. NBC Securities Inc. acquired a new position in shares of Installed Building Products in the 4th quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its holdings in shares of Installed Building Products by 253.7% during the 4th quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock worth $27,000 after acquiring an additional 104 shares during the period. Finally, Annapolis Financial Services LLC boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.