Installed Building Products (NYSE:IBP) Research Coverage Started at Melius Research

Melius Research started coverage on shares of Installed Building Products (NYSE:IBP) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $217.00 price objective on the construction company’s stock.

A number of other research firms have also weighed in on IBP. Stifel Nicolaus began coverage on Installed Building Products in a report on Monday, September 14th. They set a “buy” rating and a $240.00 target price for the company. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, September 27th. Wells Fargo & Company cut their price objective 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, September 11th. Evercore set a $222.00 price objective on shares of Installed Building Products in a research report on Friday, September 25th. Finally, Zacks Research raised shares of Installed Building Products from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $236.83.

Installed Building Products Price Performance

Installed Building Products stock opened at $187.41 on Tuesday. Installed Building Products has a one year low of $178.54 and a one year high of $349.00. The business has a fifty day moving average price of $221.81 and a 200-day moving average price of $233.18. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The firm has a market capitalization of $4.98 billion, a P/E ratio of 20.17, a PEG ratio of 3.43 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.36. The company had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 earnings per share. As a group, equities research analysts forecast that Installed Building Products will post 9.89 EPS for the current year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.8%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.79%.

Insider Activity

In other news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the completion of the sale, the director owned 5,142 shares in the company, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Abel Hall LLC grew its stake in shares of Installed Building Products by 2.8% in the first quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock worth $342,000 after purchasing an additional 35 shares during the last quarter. Petros Family Wealth LLC raised its position in Installed Building Products by 4.6% during the 1st quarter. Petros Family Wealth LLC now owns 905 shares of the construction company’s stock valued at $240,000 after purchasing an additional 40 shares during the last quarter. Lazard Asset Management LLC raised its position in Installed Building Products by 5.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,070 shares of the construction company’s stock valued at $284,000 after purchasing an additional 51 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Installed Building Products by 29.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock worth $67,000 after buying an additional 59 shares during the period. Finally, Glenmede Trust Co. NA grew its position in shares of Installed Building Products by 2.6% in the 1st quarter. Glenmede Trust Co. NA now owns 2,537 shares of the construction company’s stock worth $673,000 after buying an additional 64 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.