Analysts Set Installed Building Products, Inc. (NYSE:IBP) PT at $255.20

Shares of Installed Building Products, Inc. (NYSE:IBP) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $255.20.

A number of analysts have recently weighed in on the stock. Truist Financial boosted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Evercore ISI upped their price objective on Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Royal Bank of Canada lifted their target price on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Jefferies Financial Group increased their price target on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, Stephens restated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th.

Installed Building Products Stock Performance

NYSE IBP opened at $239.19 on Monday. 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 has a 1-year low of $106.01 and a 1-year high of $281.04. The business has a 50 day simple moving average of $227.25 and a two-hundred day simple moving average of $227.15. The stock has a market capitalization of $6.80 billion, a PE ratio of 27.06 and a beta of 1.93.

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 analysts’ consensus estimates of $2.77 by $0.13. The firm had revenue of $737.60 million during the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. On average, research analysts predict that Installed Building Products will post 11.06 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Sunday, September 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s payout ratio is presently 15.84%.

Institutional Investors Weigh In On Installed Building Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swedbank AB purchased a new position in shares of Installed Building Products during the first quarter worth approximately $96,248,000. Norges Bank bought a new stake in Installed Building Products during the 4th quarter valued at $37,583,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Installed Building Products by 1,328.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after buying an additional 183,696 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in shares of Installed Building Products by 3,919.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock worth $26,093,000 after buying an additional 139,172 shares during the period. Finally, Millennium Management LLC grew its position in shares of Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after buying an additional 114,259 shares in the last quarter. Institutional investors 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.