Installed Building Products, Inc. (NYSE:IBP) Receives Consensus Rating of “Reduce” from Brokerages

Installed Building Products, Inc. (NYSE:IBP) has been given an average recommendation of “Reduce” by the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $247.6667.

Several analysts have recently weighed in on IBP shares. Stephens lowered their price objective on shares of Installed Building Products from $300.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. Truist Financial lowered their price objective on shares of Installed Building Products from $250.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Wall Street Zen cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, March 29th. Evercore set a $226.00 price objective on shares of Installed Building Products in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 13th.

Installed Building Products Stock Performance

NYSE IBP opened at $232.59 on Friday. The company’s 50 day simple moving average is $233.58 and its two-hundred day simple moving average is $270.87. The company has a debt-to-equity ratio of 1.56, a current ratio of 3.35 and a quick ratio of 2.76. The stock has a market capitalization of $6.27 billion, a PE ratio of 24.80, a P/E/G ratio of 5.76 and a beta of 1.71. Installed Building Products has a 1 year low of $176.93 and a 1 year high of $349.00.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.17). The company had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $668.92 million. Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 EPS. Analysts predict that Installed Building Products will post 9.57 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.39 per share. The ex-dividend date is Monday, June 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. Installed Building Products’s dividend payout ratio (DPR) is 16.63%.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, insider Jason R. Niswonger bought 455 shares of Installed Building Products stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $214.80 per share, with a total value of $97,734.00. Following the acquisition, the insider owned 17,122 shares in the company, valued at approximately $3,677,805.60. This trade represents a 2.73% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brad A. Wheeler bought 716 shares of Installed Building Products stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $209.13 per share, for a total transaction of $149,737.08. Following the acquisition, the chief operating officer owned 14,988 shares in the company, valued at $3,134,440.44. The trade was a 5.02% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 5,036 shares of company stock worth $1,042,807 in the last quarter. 13.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Installed Building Products by 3.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after purchasing an additional 486 shares during the last quarter. United Services Automobile Association bought a new position in shares of Installed Building Products during the 1st quarter valued at $263,000. Jane Street Group LLC grew its holdings in shares of Installed Building Products by 270.0% during the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock valued at $2,948,000 after purchasing an additional 12,545 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Installed Building Products by 5.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock valued at $296,000 after purchasing an additional 92 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in Installed Building Products by 959.6% in the 2nd quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock worth $3,265,000 after acquiring an additional 16,400 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.