Installed Building Products (NYSE:IBP) Price Target Raised to $203.00 at Royal Bank of Canada

Installed Building Products (NYSE:IBP) had its price target hoisted by Royal Bank of Canada from $201.00 to $203.00 in a research report report published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the construction company’s stock.

A number of other brokerages have also recently commented on IBP. Truist Financial raised their price target on Installed Building Products from $235.00 to $240.00 and gave the stock a hold rating in a research report on Friday. StockNews.com lowered shares of Installed Building Products from a buy rating to a hold rating in a report on Wednesday. The Goldman Sachs Group upped their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a buy rating in a report on Friday. Loop Capital boosted their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the company a buy rating in a research report on Friday, May 10th. Finally, Jefferies Financial Group upped their price objective on Installed Building Products from $239.00 to $250.00 and gave the stock a hold rating in a research report on Wednesday, July 17th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $248.00.

Installed Building Products Price Performance

NYSE:IBP opened at $231.70 on Friday. Installed Building Products has a 52 week low of $106.01 and a 52 week high of $281.04. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.67 and a current ratio of 3.08. The firm’s 50-day simple moving average is $220.70 and its 200 day simple moving average is $224.59. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 26.21 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.29. The firm had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, sell-side analysts predict that Installed Building Products will post 11.2 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be issued a $0.35 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.60%. Installed Building Products’s payout ratio is 15.84%.

Insiders Place Their Bets

In related news, Director Janet E. Jackson sold 2,122 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $211.65, for a total value of $449,121.30. Following the sale, the director now directly owns 7,046 shares in the company, valued at $1,491,285.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jason R. Niswonger sold 6,000 shares of Installed Building Products stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the transaction, the insider now directly owns 13,159 shares of the company’s stock, valued at approximately $3,024,464.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Janet E. Jackson sold 2,122 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $211.65, for a total value of $449,121.30. Following the sale, the director now owns 7,046 shares in the company, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. Company insiders own 16.50% of the company’s stock.

Institutional Trading of Installed Building Products

Large investors have recently modified their holdings of the stock. Raymond James & Associates raised its position in shares of Installed Building Products by 6.9% during the fourth quarter. Raymond James & Associates now owns 29,827 shares of the construction company’s stock worth $5,453,000 after purchasing an additional 1,928 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Installed Building Products by 2.5% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,329 shares of the construction company’s stock worth $1,523,000 after acquiring an additional 204 shares in the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Installed Building Products in the 4th quarter worth about $121,000. International Assets Investment Management LLC bought a new position in Installed Building Products in the 4th quarter valued at about $838,000. Finally, Arkadios Wealth Advisors boosted its stake in Installed Building Products by 5.9% during the 4th quarter. Arkadios Wealth Advisors now owns 2,494 shares of the construction company’s stock valued at $456,000 after purchasing an additional 140 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.