Brokerages Set Installed Building Products, Inc. (NYSE:IBP) Price Target at $249.30

Installed Building Products, Inc. (NYSE:IBP) has been assigned a consensus rating of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $248.30.

Several research analysts have weighed in on IBP shares. DA Davidson upped their target price on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Wells Fargo & Company reduced their price target on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a research report on Friday. Evercore set a $246.00 price target on Installed Building Products in a research note on Friday, August 7th. Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th.

Insiders Place Their Bets

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the sale, the director owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Institutional investors and hedge funds have recently made changes to their positions in the business. Danske Bank A S purchased a new position in Installed Building Products during the 3rd quarter valued at about $25,000. NewEdge Advisors LLC grew its position in shares of Installed Building Products by 5,000.0% in the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Installed Building Products in the first quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Installed Building Products during the 2nd quarter worth approximately $31,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Installed Building Products by 700.0% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company’s stock worth $37,000 after purchasing an additional 133 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $204.89 on Friday. The firm has a market capitalization of $5.45 billion, a P/E ratio of 22.06, a PEG ratio of 3.83 and a beta of 1.71. Installed Building Products has a one year low of $193.11 and a one year high of $349.00. The company’s fifty day moving average is $232.95 and its two-hundred day moving average is $246.88. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business had revenue of $777.80 million for the quarter, compared to analysts’ expectations of $743.33 million. During the same period in the prior year, the company posted $2.95 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Analysts forecast that Installed Building Products will post 9.82 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, September 15th. Installed Building Products’s payout ratio is presently 16.79%.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.