Installed Building Products (NYSE:IBP) Sees Strong Trading Volume

Shares of Installed Building Products, Inc. (NYSE:IBPGet Rating) saw strong trading volume on Wednesday . 5,570 shares were traded during trading, a decline of 95% from the previous session’s volume of 116,309 shares.The stock last traded at $87.89 and had previously closed at $89.42.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Installed Building Products in a research report on Wednesday, August 17th. They set a “hold” rating and a $108.00 price target on the stock. The Goldman Sachs Group dropped their price target on shares of Installed Building Products from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Thursday, June 23rd. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Loop Capital started coverage on shares of Installed Building Products in a research report on Thursday, August 18th. They issued a “hold” rating and a $110.00 price objective on the stock. Finally, Stephens lifted their price objective on shares of Installed Building Products from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $106.83.

Installed Building Products Price Performance

The stock has a market cap of $2.62 billion, a PE ratio of 16.96 and a beta of 1.80. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.25 and a quick ratio of 1.72. The firm’s 50 day moving average price is $95.13 and its two-hundred day moving average price is $91.10.

Installed Building Products (NYSE:IBPGet Rating) last posted its earnings results on Thursday, August 4th. The construction company reported $2.48 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.52. The firm had revenue of $676.70 million during the quarter, compared to the consensus estimate of $611.12 million. Installed Building Products had a net margin of 6.85% and a return on equity of 50.89%. The company’s revenue was up 38.6% on a year-over-year basis. During the same quarter last year, the company earned $1.59 earnings per share. On average, research analysts expect that Installed Building Products, Inc. will post 8.05 earnings per share for the current year.

Installed Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.26 annualized dividend and a yield of 1.38%. Installed Building Products’s dividend payout ratio is currently 23.42%.

Insider Activity at Installed Building Products

In related news, Director Michael H. Thomas sold 2,491 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $101.05, for a total transaction of $251,715.55. Following the completion of the transaction, the director now owns 8,669 shares of the company’s stock, valued at $876,002.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 17.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds have recently bought and sold shares of the company. Findlay Park Partners LLP grew its stake in Installed Building Products by 54.4% in the 4th quarter. Findlay Park Partners LLP now owns 1,861,126 shares of the construction company’s stock worth $260,037,000 after buying an additional 655,406 shares in the last quarter. Vanguard Group Inc. grew its stake in Installed Building Products by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 2,836,175 shares of the construction company’s stock worth $239,629,000 after buying an additional 329,661 shares in the last quarter. Giverny Capital Inc. grew its stake in Installed Building Products by 152.0% in the 1st quarter. Giverny Capital Inc. now owns 397,624 shares of the construction company’s stock worth $33,595,000 after buying an additional 239,866 shares in the last quarter. Van Berkom & Associates Inc. grew its stake in Installed Building Products by 26.3% in the 2nd quarter. Van Berkom & Associates Inc. now owns 681,497 shares of the construction company’s stock worth $56,673,000 after buying an additional 142,090 shares in the last quarter. Finally, Royal London Asset Management Ltd. purchased a new position in Installed Building Products in the 2nd quarter worth approximately $11,274,000. Hedge funds and other institutional investors own 78.79% of the company’s stock.

Installed Building Products Company Profile

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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.

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