StockNews.com Upgrades Installed Building Products (NYSE:IBP) to “Buy”

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a research note released on Thursday morning.

Several other research firms have also commented on IBP. Benchmark raised their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a buy rating in a research report on Tuesday, May 14th. Royal Bank of Canada lifted their target price on Installed Building Products from $201.00 to $203.00 and gave the company a sector perform rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of Installed Building Products from $242.00 to $227.00 and set a neutral rating on the stock in a research report on Monday, May 13th. Loop Capital lifted their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the company a buy rating in a report on Friday, May 10th. Finally, Truist Financial increased 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. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $255.20.

Installed Building Products Stock Up 1.0 %

Shares of IBP opened at $222.31 on Thursday. The company’s 50-day moving average price is $223.06 and its 200 day moving average price is $227.88. Installed Building Products has a 12-month low of $106.01 and a 12-month high of $281.04. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. The firm has a market cap of $6.28 billion, a P/E ratio of 25.15 and a beta of 1.93.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $743.86 million. On average, sell-side analysts forecast that Installed Building Products will post 11.14 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently announced 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. This represents a $1.40 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

Institutional Trading of Installed Building Products

A number of institutional investors have recently bought and sold shares of IBP. Swedbank AB acquired a new stake in shares of Installed Building Products during the 1st quarter worth about $96,248,000. Channing Capital Management LLC purchased a new stake in shares of Installed Building Products during the 4th quarter worth approximately $58,696,000. Norges Bank acquired a new position in shares of Installed Building Products in the 4th quarter valued at $37,583,000. Price T Rowe Associates Inc. MD boosted 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 valued at $51,107,000 after buying an additional 183,696 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position 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 valued at $26,093,000 after buying an additional 139,172 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

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.