Installed Building Products (NYSE:IBP) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a research report sent to investors on Tuesday.

A number of other brokerages have also recently issued reports on IBP. Royal Bank of Canada lifted their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Truist Financial lifted 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. Stephens reiterated an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. Jefferies Financial Group boosted their price target on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, Evercore ISI increased their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $254.40.

Installed Building Products Stock Performance

IBP opened at $234.56 on Tuesday. Installed Building Products has a 1-year low of $106.01 and a 1-year high of $281.04. The stock has a market cap of $6.67 billion, a P/E ratio of 26.53 and a beta of 1.94. The stock’s 50 day simple moving average is $229.77 and its 200 day simple moving average is $226.34. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

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 return on equity of 44.93% and a net margin of 8.89%. The company had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. As a group, equities analysts anticipate that Installed Building Products will post 11.06 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Sunday, September 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.60%. The ex-dividend date was Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.84%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares during the last quarter. Duality Advisers LP increased its holdings in shares of Installed Building Products by 32.2% during the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock worth $3,596,000 after buying an additional 3,389 shares during the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Installed Building Products in the 1st quarter worth $564,000. Swedbank AB boosted its holdings in Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock valued at $85,357,000 after acquiring an additional 43,000 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Installed Building Products by 456.2% during the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock valued at $784,000 after acquiring an additional 3,125 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

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.