Installed Building Products, Inc. (NYSE:IBP - Free Report) - Stock analysts at DA Davidson dropped their FY2024 EPS estimates for Installed Building Products in a research report issued on Friday, November 8th. DA Davidson analyst K. Yinger now forecasts that the construction company will post earnings per share of $10.81 for the year, down from their previous estimate of $10.95. DA Davidson currently has a "Buy" rating and a $260.00 price target on the stock. The consensus estimate for Installed Building Products' current full-year earnings is $10.97 per share. DA Davidson also issued estimates for Installed Building Products' Q4 2024 earnings at $2.81 EPS and FY2025 earnings at $11.72 EPS.
Several other brokerages also recently issued reports on IBP. Evercore ISI raised their price target on Installed Building Products from $271.00 to $272.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Truist Financial lifted their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a report on Friday, August 2nd. The Goldman Sachs Group lifted their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. StockNews.com downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Stephens reissued an "equal weight" rating and set a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Installed Building Products currently has a consensus rating of "Hold" and a consensus price target of $252.30.
Read Our Latest Analysis on Installed Building Products
Installed Building Products Stock Performance
Installed Building Products stock traded up $0.48 during mid-day trading on Monday, hitting $210.74. 336,134 shares of the company's stock traded hands, compared to its average volume of 294,001. The firm has a 50 day simple moving average of $231.09 and a two-hundred day simple moving average of $225.16. Installed Building Products has a fifty-two week low of $124.01 and a fifty-two week high of $281.04. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 23.42 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.59.
Institutional Investors Weigh In On Installed Building Products
Hedge funds have recently made changes to their positions in the stock. Swedbank AB bought a new stake in Installed Building Products during the 1st quarter worth $96,248,000. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $51,107,000 after purchasing an additional 183,696 shares in the last quarter. Millennium Management LLC grew its holdings 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 worth $29,446,000 after purchasing an additional 114,259 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Installed Building Products by 379.5% in the third quarter. Thrivent Financial for Lutherans now owns 93,439 shares of the construction company's stock valued at $23,012,000 after buying an additional 73,952 shares during the period. Finally, Leeward Investments LLC MA acquired a new stake in Installed Building Products during the 3rd quarter worth approximately $17,972,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.
Installed Building Products Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Friday, December 13th. Installed Building Products's payout ratio is 15.56%.
Installed Building Products Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Installed Building Products, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Installed Building Products wasn't on the list.
While Installed Building Products currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
