Brokerages Set Installed Building Products, Inc. (NYSE:IBP) PT at $255.40

Shares of Installed Building Products, Inc. (NYSE:IBP) have received a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $254.40.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their price target on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Jefferies Financial Group boosted their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, Stephens reiterated an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th.

Installed Building Products Stock Down 0.1 %

Shares of IBP stock opened at $254.14 on Friday. Installed Building Products has a one year low of $106.01 and a one year high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The stock has a fifty day moving average price of $227.86 and a 200 day moving average price of $226.99. The stock has a market cap of $7.23 billion, a P/E ratio of 28.75 and a beta of 1.94.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. Analysts predict that Installed Building Products will post 11.06 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Sunday, September 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Friday, September 13th. Installed Building Products’s payout ratio is presently 15.84%.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently modified their holdings of the stock. Swedbank AB bought a new position in Installed Building Products in the 1st quarter worth approximately $96,248,000. Price T Rowe Associates Inc. MD raised its position in shares of Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after acquiring an additional 183,696 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Installed Building Products by 395.3% during the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after acquiring an additional 114,259 shares during the period. Renaissance Technologies LLC boosted its holdings in Installed Building Products by 2,912.0% in the second quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock valued at $15,488,000 after acquiring an additional 72,800 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Installed Building Products in the first quarter worth about $17,806,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.