Installed Building Products (NYSE:IBP) Releases Quarterly Earnings Results, Beats Expectations By $0.49 EPS

Installed Building Products (NYSE:IBP) released its quarterly earnings results on Wednesday. The construction company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49, Briefing.com reports. The business had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.85 EPS.

Installed Building Products Trading Up 2.1%

IBP stock traded up $5.40 on Friday, hitting $257.32. 340,666 shares of the company were exchanged, compared to its average volume of 431,738. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 28.62 and a beta of 1.81. Installed Building Products has a twelve month low of $150.83 and a twelve month high of $280.00. The business’s fifty day moving average is $256.12 and its two-hundred day moving average is $215.48.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, December 15th. Installed Building Products’s payout ratio is presently 16.46%.

Insider Transactions at Installed Building Products

In related news, COO Brad A. Wheeler sold 3,186 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the transaction, the chief operating officer directly owned 8,736 shares of the company’s stock, valued at approximately $2,404,933.44. This trade represents a 26.72% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the sale, the chief accounting officer owned 6,822 shares of the company’s stock, valued at $1,755,095.94. This represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,655 shares of company stock valued at $3,123,578. Corporate insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Installed Building Products by 3.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock worth $2,423,000 after acquiring an additional 486 shares in the last quarter. United Services Automobile Association acquired a new position in shares of Installed Building Products in the 1st quarter valued at approximately $263,000. Jane Street Group LLC raised its position in shares of Installed Building Products by 270.0% in the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock valued at $2,948,000 after purchasing an additional 12,545 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of Installed Building Products by 5.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock valued at $296,000 after buying an additional 92 shares during the last quarter. Finally, Jump Financial LLC grew its position in shares of Installed Building Products by 959.6% during the second quarter. Jump Financial LLC now owns 18,109 shares of the construction company’s stock worth $3,265,000 after buying an additional 16,400 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on IBP shares. Wall Street Zen lowered Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, November 2nd. Evercore ISI set a $265.00 target price on shares of Installed Building Products in a report on Thursday. Danske downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price target on the stock. in a report on Tuesday, August 12th. Jefferies Financial Group lifted their price objective on Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Finally, Vertical Research began coverage on Installed Building Products in a research report on Monday, October 20th. They set a “sell” rating for the company. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $224.45.

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.