Brokerages Set Installed Building Products, Inc. (NYSE:IBP) Target Price at $247.67

Installed Building Products, Inc. (NYSE:IBP) has been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $247.6667.

IBP has been the subject of a number of recent research reports. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Evercore set a $226.00 price target on Installed Building Products in a research note on Friday, May 8th. Truist Financial cut their price target on Installed Building Products from $250.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Royal Bank Of Canada set a $242.00 price objective on Installed Building Products in a report on Monday, May 11th. Finally, DA Davidson restated a “neutral” rating and issued a $242.00 price objective on shares of Installed Building Products in a research note on Monday, June 1st.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, COO Brad A. Wheeler bought 716 shares of the stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $209.13 per share, with a total value of $149,737.08. Following the acquisition, the chief operating officer directly owned 14,988 shares of the company’s stock, valued at $3,134,440.44. The trade was a 5.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence A. Hilsheimer bought 475 shares of the company’s stock in a transaction on Monday, May 11th. The shares were bought at an average price of $206.22 per share, for a total transaction of $97,954.50. Following the transaction, the director owned 28,468 shares of the company’s stock, valued at approximately $5,870,670.96. This represents a 1.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 5,036 shares of company stock valued at $1,042,807. 13.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds have recently made changes to their positions in IBP. Bessemer Group Inc. boosted its stake in Installed Building Products by 21.4% in the 4th quarter. Bessemer Group Inc. now owns 123,264 shares of the construction company’s stock worth $31,973,000 after purchasing an additional 21,705 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in Installed Building Products by 7.6% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 128,911 shares of the construction company’s stock valued at $33,438,000 after buying an additional 9,080 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Installed Building Products by 107.3% during the fourth quarter. SG Americas Securities LLC now owns 9,227 shares of the construction company’s stock valued at $2,393,000 after buying an additional 4,777 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Installed Building Products by 36,067.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 54,974 shares of the construction company’s stock valued at $14,260,000 after buying an additional 54,822 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Installed Building Products by 92.8% in the third quarter. JPMorgan Chase & Co. now owns 60,361 shares of the construction company’s stock worth $14,889,000 after buying an additional 29,056 shares in the last quarter. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 2.1%

Shares of IBP stock opened at $227.55 on Thursday. The company has a 50 day moving average of $216.83 and a 200-day moving average of $265.00. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. Installed Building Products has a 12-month low of $193.11 and a 12-month high of $349.00. The firm has a market cap of $6.13 billion, a P/E ratio of 24.26, a PEG ratio of 5.45 and a beta of 1.69.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The company had revenue of $660.50 million during the quarter, compared to the consensus estimate of $668.92 million. During the same period last year, the firm posted $2.08 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. Sell-side analysts anticipate that Installed Building Products will post 9.57 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.39 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.63%.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.