Installed Building Products (NYSE:IBP) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a research report released on Friday morning.

A number of other research firms have also recently weighed in on IBP. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $184.00 price objective (up previously from $145.00) on shares of Installed Building Products in a report on Thursday, August 7th. Jefferies Financial Group increased their price objective on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a report on Tuesday, August 12th. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Thursday, August 14th. Zelman & Associates upgraded shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a research report on Friday, August 8th. Finally, DA Davidson lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and increased their target price for the company from $225.00 to $252.00 in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $217.36.

Installed Building Products Stock Up 0.3%

IBP stock opened at $249.36 on Friday. The company has a quick ratio of 2.31, a current ratio of 2.85 and a debt-to-equity ratio of 1.27. Installed Building Products has a fifty-two week low of $150.83 and a fifty-two week high of $280.00. The firm’s 50-day simple moving average is $248.71 and its 200 day simple moving average is $198.42. The stock has a market cap of $6.81 billion, a PE ratio of 27.74 and a beta of 1.76.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.50. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The business had revenue of $760.30 million for the quarter, compared to analysts’ expectations of $711.37 million. During the same quarter last year, the company earned $2.84 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, sell-side analysts predict that Installed Building Products will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, September 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is 16.46%.

Insider Buying and Selling at Installed Building Products

In other news, CAO Todd R. Fry sold 500 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the transaction, the chief accounting officer owned 6,822 shares in the company, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider William Jeffrey Hire sold 6,500 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the transaction, the insider owned 37,999 shares of the company’s stock, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,655 shares of company stock worth $3,123,578. Company insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Several large investors have recently made changes to their positions in IBP. Tidal Investments LLC boosted its position in shares of Installed Building Products by 8.7% during the 4th quarter. Tidal Investments LLC now owns 2,541 shares of the construction company’s stock valued at $445,000 after purchasing an additional 204 shares in the last quarter. Squarepoint Ops LLC bought a new position in Installed Building Products during the fourth quarter valued at approximately $641,000. Jefferies Financial Group Inc. bought a new position in Installed Building Products during the fourth quarter valued at approximately $823,000. Wellington Management Group LLP raised its position in Installed Building Products by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 143,579 shares of the construction company’s stock valued at $25,162,000 after acquiring an additional 2,939 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Installed Building Products by 35,416.8% during the first quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company’s stock valued at $289,870,000 after acquiring an additional 168,584 shares in the last quarter. Institutional investors 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.