Several other equity research analysts have also weighed in on the company recently. Goldman Sachs Group reduced its target price on installed building products from $105.00 to $90.00 and set a neutral rating for the company in a Thursday, June 23 research note. BTIG Research downgraded Installed Building Products from a Buy rating to a Neutral rating in a Friday, August 5 research rating. Zelman & Associates upgraded installed building products from a buy rating to a hold rating in a Friday, Aug. 5 research note. Stephens raised its price target on installed building products from $100.00 to $110.00 and gave the stock an equal weight rating in a research report on Monday. Finally, Truist Financial reduced its price target on installed building products from $135.00 to $100.00 in a Friday, May 6 research report. One research analyst rated the stock with a sell rating, eight gave the company a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $106.40.
Performance of installed construction product inventories
Shares of IBP opened at $100.32 on Monday. The stock has a 50-day simple moving average of $90.77 and a 200-day simple moving average of $92.71. The company has a debt ratio of 2.08, a quick ratio of 1.72 and a current ratio of 2.25. The stock has a market capitalization of $2.88 billion, a PE ratio of 18.65 and a beta of 1.79. Installed Building Products has a 1-year low of $69.44 and a 1-year high of $141.43.
Building products installed (New York Stock Exchange: IBP – Get an assessment) last reported quarterly earnings data on Thursday, August 4. The construction company reported earnings per share (EPS) of $2.48 for the quarter, beating the consensus estimate of $1.94 by $0.54. The company posted revenue of $676.70 million in the quarter, compared to $611.12 million expected by analysts. Installed Building Products had a return on equity of 50.89% and a net margin of 6.85%. The company’s quarterly revenue increased by 38.6% compared to the same quarter last year. In the same quarter last year, the company posted EPS of $1.59. On average, analysts expect Installed Building Products to post earnings per share of 7.16 for the current fiscal year.
Installed Building Products Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Thursday, September 15 will receive a dividend of $0.315. This represents a dividend of $1.26 on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, September 14. Installed Building Products’ payout ratio is currently 23.42%.
Separately, director Michael H. Thomas sold 2,491 shares of the company in a transaction that took place on Monday, August 8. The stock was sold at an average price of $101.05, for a total value of $251,715.55. Following the transaction, the director now owns 8,669 shares of the company, valued at $876,002.45. The transaction was disclosed in an SEC filing, available at the SEC website. Company insiders hold 17.90% of the company’s stock.
Institutional entries and exits
Institutional investors and hedge funds have recently bought and sold shares of the company. Covestor Ltd acquired a new position in Installed Building Products during the fourth quarter worth $38,000. Lazard Asset Management LLC acquired a new position in Installed Building Products during the second quarter worth $72,000. KBC Group NV increased its stake in Installed Building Products by 87.7% in the first quarter. KBC Group NV now owns 884 shares in the construction company worth $75,000 after acquiring an additional 413 shares during the period. Alphasimplex Group LLC acquired a new position in Installed Building Products during the fourth quarter worth $208,000. Finally, Pictet Asset Management SA acquired a new position in Installed Building Products during the fourth quarter with a value of $230,000. Institutional investors and hedge funds own 98.94% of the company’s shares.
Installed Building Products Company Profile
Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, firestopping, fireproofing, garage doors, gutters, blinds, shower, closet shelves and mirrors, and other products in the continental United States. States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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