Installed Building Products (NYSE:IBP) Upgraded at StockNews.com

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 morning.

IBP has been the subject of several other reports. Royal Bank of Canada raised their price target on 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 boosted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Evercore ISI raised their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stephens reaffirmed an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. Finally, The Goldman Sachs Group increased their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $254.40.

Installed Building Products Trading Up 1.5 %

Shares of IBP opened at $230.45 on Tuesday. Installed Building Products has a 12-month low of $106.01 and a 12-month high of $281.04. The firm has a market capitalization of $6.56 billion, a P/E ratio of 26.07 and a beta of 1.94. The firm has a 50-day moving average price of $230.52 and a 200 day moving average price of $226.37. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $743.86 million. Sell-side analysts forecast that Installed Building Products will post 11.06 EPS for the current year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Sunday, September 15th were given a dividend of $0.35 per share. The ex-dividend date was Friday, September 13th. This represents a $1.40 annualized dividend and a dividend yield of 0.61%. Installed Building Products’s dividend payout ratio is currently 15.84%.

Institutional Investors Weigh In On Installed Building Products

Institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in Installed Building Products during the first quarter worth approximately $29,000. V Square Quantitative Management LLC acquired a new stake in Installed Building Products during the 3rd quarter worth $29,000. GHP Investment Advisors Inc. lifted its position in Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after acquiring an additional 78 shares during the last quarter. CWM LLC boosted its stake in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Installed Building Products by 50.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock worth $68,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

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.