In yesterday’s Wall Street session, Installed Building Products Inc. (NYSE:IBP) shares traded at $104.58, up 1.50% from the previous session.
11 analysts cover Installed Building Products Inc. (NYSE:IBP), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $124.00 and a low of $79.00, we find $96.50. Given the previous closing price of $103.03, this indicates a potential downside of -6.34 percent. IBP stock price is now 18.37% away from the 50-day moving average and 18.59% away from the 200-day moving average. The market capitalization of the company currently stands at $2.87B.
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The stock has received a hold rating from 8 analysts and a buy rating from 2. Brokers who have rated the stock have averaged $99.60 as their price target over the next twelve months.
With the price target enhanced from $90 to $124, Deutsche Bank Upgraded its rating from Hold to Buy for Installed Building Products Inc. (NYSE: IBP). On August 19, 2022, Loop Capital recently initiated its ‘Hold’ rating on the stock quoting a target price of $110, while ‘Deutsche Bank’ rates the stock as ‘Hold’.
In other news, THOMAS MICHAEL H, Director sold 2,491 shares of the company’s stock on Aug 08. The stock was sold for $251,716 at an average price of $101.05. Upon completion of the transaction, the Director now directly owns 8,669 shares in the company, valued at $0.91 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 28, Director Hilsheimer Lawrence A. bought 513 shares of the business’s stock. A total of $49,915 was incurred on buying the stock at an average price of $97.30. This leaves the insider owning 24,549 shares of the company worth $2.57 million. Insiders disposed of 10,475 shares of company stock worth roughly $1.1 million over the past 1 year. A total of 18.97% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IBP stock. A new stake in Installed Building Products Inc. shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $2,751,000. RAYMOND JAMES & ASSOCIATES invested $2,547,000 in shares of IBP during the first quarter. In the first quarter, PDT PARTNERS, LLC acquired a new stake in Installed Building Products Inc. valued at approximately $1,993,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in IBP for approximately $1,211,000. ALGERT GLOBAL LLC purchased a new stake in IBP valued at around $1,135,000 in the second quarter. In total, there are 307 active investors with 83.20% ownership of the company’s stock.
On Tuesday morning Installed Building Products Inc. (NYSE: IBP) stock kicked off with the opening price of $102.96. During the past 12 months, Installed Building Products Inc. has had a low of $69.44 and a high of $112.37. As of last week, the company has a debt-to-equity ratio of 1.89, a current ratio of 2.50, and a quick ratio of 2.00. The fifty day moving average price for IBP is $88.35 and a two-hundred day moving average price translates $88.19 for the stock.
The latest earnings results from Installed Building Products Inc. (NYSE: IBP) was released for Jun, 2022. According to the Building Products & Equipment Company, earnings per share came in at $2.48, beating analysts’ expectations of $1.94 by 0.54. This compares to $1.18 EPS in the same period last year. The net profit margin was 7.30% and return on equity was 44.20% for IBP. The company reported revenue of $719.11 million for the quarter, compared to $509.76 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 41.07 percent. For the current quarter, analysts expect IBP to generate $671.15M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/31/2022. Investors who held shares on 12/15/2022 were paid a $0.315 dividend. On an annualized basis, this represents a $1.26 dividend and a 1.20% percent yield. There was an ex-dividend date of 12/14/2022 for this dividend. In terms of dividend payout ratio, IBP is presently at 19.50%.
Installed Building Products Inc.(IBP) 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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials. It is also involved in the installation of insulation and sealant materials in various areas of a structure, which includes basement and crawl space, building envelope, attic, and acoustical applications. In addition, the company installs a range of caulk and sealant products that control air infiltration in residential and commercial buildings; and waterproofing options, including sheet and hot applied waterproofing membranes, as well as deck coating, bentonite, and air and vapor systems. It serves homebuilders, multi-family and commercial construction firms, individual homeowners, and repair and remodeling contractors through a network of approximately 210 branch locations. The company was formerly known as CCIB Holdco, Inc. Installed Building Products, Inc. was founded in 1977 and is based in Columbus, Ohio.
