Installed Building Products (NYSE:IBP) Shares Gap Up on Analyst Upgrade

Installed Building Products, Inc. (NYSE:IBP)’s stock price gapped up prior to trading on Friday after Deutsche Bank upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $223.76, but opened at $232.95. Deutsche Bank now has a $260.00 price target on the stock. Installed Building Products shares last traded at $228.17, with a volume of 29,216 shares changing hands.

IBP has been the subject of several other reports. Stifel Nicolaus lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and upped their price objective for the stock from $220.00 to $225.00 in a report on Monday. Evercore set a $222.00 target price on shares of Installed Building Products in a research note on Friday, September 25th. Truist Financial boosted their price target on shares of Installed Building Products from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Friday, November 6th. Melius Research assumed coverage on shares of Installed Building Products in a research note on Tuesday, October 6th. They issued a “hold” rating and a $217.00 price target for the company. Finally, Wells Fargo & Company lowered their price objective on shares of Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $235.21.

Insiders Place Their Bets

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the 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 completion of the transaction, the director owned 5,142 shares in the company, 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 can be accessed through this link. 13.80% of the stock is currently owned by insiders.

Recent Installed Building Products Headlines

Investors following IBP have been watching these headlines:

• Positive Sentiment: StoneX upgraded IBP from “Hold” to “Buy” and set a $275 price target, citing a more favorable view of the shares. Read More.
• Neutral Sentiment: Market reaction to the acquisition was mixed: one report noted a rally after the Old Dominion deal, while another described the stock as flat. Investors may be weighing the platform’s growth potential against the size and execution demands of the transaction. Read More.
• Negative Sentiment: Valuation and operating pressures remain concerns. A recent analysis highlighted margin pressure, and IBP’s latest reported quarter showed EPS of $2.76, below the $2.83 consensus, despite revenue exceeding estimates and rising year over year. Read More.

Hedge Funds Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Benjamin Edwards Inc. lifted its holdings in Installed Building Products by 2.5% in the third quarter. Benjamin Edwards Inc. now owns 4,000 shares of the construction company’s stock valued at $769,000 after acquiring an additional 98 shares during the period. Advisors Asset Management Inc. purchased a new position in Installed Building Products during the third quarter valued at approximately $1,197,000. GW&K Investment Management LLC purchased a new position in Installed Building Products during the third quarter valued at approximately $3,475,000. Boston Partners purchased a new position in Installed Building Products during the third quarter valued at approximately $25,610,000. Finally, Stephens Investment Management Group LLC boosted its position in shares of Installed Building Products by 1.6% in the third quarter. Stephens Investment Management Group LLC now owns 178,028 shares of the construction company’s stock worth $34,160,000 after purchasing an additional 2,757 shares during the period. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Trading Up 2.1%

The firm has a market capitalization of $6.07 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 10.41 and a beta of 1.65. The stock’s 50-day simple moving average is $202.81 and its two-hundred day simple moving average is $243.72. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.12 and a quick ratio of 2.54.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, November 5th. The construction company reported $2.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). The firm had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $787.70 million. Installed Building Products had a return on equity of 39.86% and a net margin of 7.87%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the company earned $3.18 earnings per share. Equities research analysts expect that Installed Building Products, Inc. will post 9.54 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.56 annualized dividend and a yield of 0.7%. Installed Building Products’s dividend payout ratio is currently 17.75%.

About Installed Building Products

Installed Building Products, Inc. is a U.S. building-products installation company headquartered in Columbus, Ohio. Founded in 1977, the company serves residential builders, commercial contractors, and homeowners through a network of local operating businesses across the United States. The company’s core business is installing insulation in new construction and existing buildings. Its offerings include fiberglass, cellulose, and spray-foam insulation, along with related weatherization services. Installed Building Products also installs complementary products such as garage doors, rain gutters, shower doors, and closet shelving.