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

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

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Installed Building Products from $242.00 to $227.00 and set a neutral rating for the company in a report on Monday, May 13th. Royal Bank of Canada boosted 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 report on Friday, May 10th. Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $239.00 to $250.00 and gave the company a hold rating in a report on Wednesday, July 17th. Benchmark boosted 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 Tuesday, May 14th. Finally, Evercore ISI boosted their price objective on shares of Installed Building Products from $274.00 to $282.00 and gave the company an outperform rating in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $256.89.

Installed Building Products Stock Down 1.8 %

Shares of NYSE:IBP opened at $231.74 on Wednesday. Installed Building Products has a one year low of $106.01 and a one year high of $281.04. The company has a 50 day moving average of $220.70 and a 200-day moving average of $224.86. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.67. 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 issued its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.08 by $0.29. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The company had revenue of $692.90 million during the quarter, compared to analysts’ expectations of $676.60 million. On average, sell-side analysts forecast that Installed Building Products will post 11.2 earnings per share for the current year.

Installed Building Products Announces Dividend

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

Insider Transactions at Installed Building Products

In other news, Director Janet E. Jackson sold 2,122 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 7,046 shares in the company, valued at approximately $1,491,285.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Janet E. Jackson sold 2,122 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the transaction, the director now directly owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the transaction, the insider now directly owns 13,159 shares in the company, valued at $3,024,464.56. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Installed Building Products

Hedge funds have recently bought and sold shares of the company. Panagora Asset Management Inc. bought a new position in Installed Building Products in the 4th quarter valued at about $7,820,000. Channing Capital Management LLC bought a new stake in shares of Installed Building Products during the 4th quarter valued at approximately $58,696,000. Vanguard Group Inc. grew its holdings in shares of Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after purchasing an additional 18,890 shares during the last quarter. Duality Advisers LP grew its holdings in shares of Installed Building Products by 32.2% during the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock valued at $3,596,000 after purchasing an additional 3,389 shares during the last quarter. Finally, Goodnow Investment Group LLC grew its holdings in shares of Installed Building Products by 28.9% during the 4th quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after purchasing an additional 20,737 shares during the last quarter. 99.61% of the stock is owned by 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.