Installed Building Products (NYSE:IBP) Rating Lowered to Hold at StockNews.com

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

A number of other equities analysts have also recently weighed in on IBP. Royal Bank of Canada upped their price objective on shares of Installed Building Products from $216.00 to $220.00 and gave the company a sector perform rating in a research report on Friday, May 10th. Loop Capital upped their target price on shares of Installed Building Products from $250.00 to $270.00 and gave the company a buy rating in a research note on Friday, May 10th. Benchmark increased their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the stock a buy rating in a research note on Tuesday, May 14th. Evercore ISI increased their price objective on shares of Installed Building Products from $274.00 to $282.00 and gave the stock an outperform rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group increased their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a hold rating in a research note on Wednesday, July 17th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Installed Building Products currently has an average rating of Moderate Buy and an average target price of $256.89.

Installed Building Products Stock Down 1.8 %

Shares of Installed Building Products stock opened at $231.74 on Wednesday. The company has a fifty day moving average price of $220.70 and a 200 day moving average price of $224.86. The company has a current ratio of 3.08, a quick ratio of 2.67 and a debt-to-equity ratio of 1.24. Installed Building Products has a twelve month low of $106.01 and a twelve month high of $281.04. The stock 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 quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.29. The firm had revenue of $692.90 million during the quarter, compared to analysts’ expectations of $676.60 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. Equities research analysts forecast that Installed Building Products will post 11.2 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Sunday, September 15th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.60%. The ex-dividend date is Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is 15.84%.

Insiders Place Their Bets

In other news, insider Jason R. Niswonger sold 6,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were 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 in the company, valued at $3,024,464.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jason R. Niswonger sold 6,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were 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 in the company, valued at $3,024,464.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janet E. Jackson sold 2,122 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the completion of the transaction, the director now owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The disclosure for this sale can be found here. 16.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc boosted its holdings in Installed Building Products by 2.0% during the second quarter. TD Asset Management Inc now owns 21,414 shares of the construction company’s stock worth $4,404,000 after buying an additional 414 shares in the last quarter. Rhumbline Advisers boosted its holdings in Installed Building Products by 0.7% during the second quarter. Rhumbline Advisers now owns 67,084 shares of the construction company’s stock worth $13,798,000 after buying an additional 485 shares in the last quarter. Convergence Investment Partners LLC boosted its holdings in Installed Building Products by 103.9% during the second quarter. Convergence Investment Partners LLC now owns 2,074 shares of the construction company’s stock worth $427,000 after buying an additional 1,057 shares in the last quarter. nVerses Capital LLC boosted its holdings in Installed Building Products by 1,200.0% during the second quarter. nVerses Capital LLC now owns 1,300 shares of the construction company’s stock worth $267,000 after buying an additional 1,200 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Installed Building Products by 13,416.7% during the second quarter. Farther Finance Advisors LLC now owns 1,622 shares of the construction company’s stock worth $326,000 after buying an additional 1,610 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

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.