Installed Building Products (NYSE:IBP) Shares Gap Up to $210.46

Installed Building Products, Inc. (NYSE:IBP) shares gapped up prior to trading on Friday . The stock had previously closed at $210.46, but opened at $220.10. Installed Building Products shares last traded at $216.34, with a volume of 16,100 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on IBP shares. Truist Financial increased their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada boosted their price target on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Stephens reaffirmed an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Evercore ISI lifted their price target on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, The Goldman Sachs Group raised their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and an average target price of $255.20.

Installed Building Products Trading Up 6.1 %

The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 25.26 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08. The business has a fifty day moving average price of $225.10 and a 200 day moving average price of $227.24.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The business had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. As a group, equities analysts forecast that Installed Building Products, Inc. will post 11.06 earnings per share for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.84%.

Institutional Trading of Installed Building Products

Several large investors have recently modified their holdings of IBP. NBC Securities Inc. acquired a new position in Installed Building Products in the fourth quarter worth about $25,000. Russell Investments Group Ltd. boosted its holdings in shares of Installed Building Products by 280.6% in the 4th quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after buying an additional 101 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Installed Building Products during the 1st quarter valued at about $29,000. Quarry LP lifted its holdings in Installed Building Products by 37.5% in the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock worth $38,000 after acquiring an additional 57 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. grew its holdings in shares of Installed Building Products by 1,393.8% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock valued at $44,000 after purchasing an additional 223 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

About Installed Building Products

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.