DA Davidson Has Bearish Estimate for IBP FY2024 Earnings

Installed Building Products, Inc. (NYSE:IBP) – Stock analysts at DA Davidson dropped their FY2024 EPS estimates for shares of Installed Building Products in a note issued to investors on Friday, November 8th. DA Davidson analyst K. Yinger now expects that the construction company will post earnings of $10.81 per share for the year, down from their previous estimate of $10.95. DA Davidson currently has a “Buy” rating and a $260.00 price target on the stock. The consensus estimate for Installed Building Products’ current full-year earnings is $10.97 per share. DA Davidson also issued estimates for Installed Building Products’ Q4 2024 earnings at $2.81 EPS and FY2025 earnings at $11.72 EPS.

Several other equities analysts have also recently commented on IBP. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the company from $203.00 to $197.00 in a research note on Friday. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI increased their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Stephens restated an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Finally, StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $252.30.

Installed Building Products Stock Performance

Installed Building Products stock opened at $210.74 on Monday. Installed Building Products has a 12-month low of $124.01 and a 12-month high of $281.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.59. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 23.42 and a beta of 1.95. The firm’s fifty day moving average price is $231.09 and its 200 day moving average price is $225.16.

Institutional Investors Weigh In On Installed Building Products

Several large investors have recently made changes to their positions in IBP. Allspring Global Investments Holdings LLC acquired a new position in shares of Installed Building Products during the first quarter valued at $29,000. Concurrent Investment Advisors LLC bought a new stake in shares of Installed Building Products during the 1st quarter worth about $564,000. Headlands Technologies LLC acquired a new stake in shares of Installed Building Products in the 1st quarter worth approximately $68,000. Russell Investments Group Ltd. boosted its holdings in shares of Installed Building Products by 13,898.5% in the first quarter. Russell Investments Group Ltd. now owns 19,178 shares of the construction company’s stock valued at $4,962,000 after acquiring an additional 19,041 shares in the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Installed Building Products by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,775 shares of the construction company’s stock valued at $1,235,000 after acquiring an additional 327 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.56%.

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.