Installed Building Products (NYSE:IBP) Hits New 52-Week High – Here’s What Happened

Shares of Installed Building Products, Inc. (NYSE:IBP) hit a new 52-week high during trading on Thursday . The company traded as high as $313.60 and last traded at $305.7580, with a volume of 491648 shares traded. The stock had previously closed at $311.69.

Analyst Ratings Changes

A number of research analysts recently weighed in on IBP shares. Weiss Ratings raised shares of Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Evercore ISI set a $265.00 price objective on Installed Building Products in a report on Thursday, November 6th. Wells Fargo & Company upped their target price on Installed Building Products from $275.00 to $310.00 and gave the stock an “equal weight” rating in a report on Wednesday. Wall Street Zen raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Finally, Royal Bank Of Canada boosted their price target on Installed Building Products from $184.00 to $203.00 and gave the stock an “underperform” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $235.36.

Installed Building Products Price Performance

The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 1.25. The business has a fifty day moving average of $267.20 and a 200 day moving average of $249.95. The firm has a market cap of $8.29 billion, a P/E ratio of 32.91, a PEG ratio of 5.76 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last posted its earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a return on equity of 62.74% and a net margin of 8.60%.The business had revenue of $778.20 million for the quarter, compared to analyst estimates of $751.98 million. During the same period in the previous year, the firm earned $2.85 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Installed Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $0.37 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.5%. Installed Building Products’s dividend payout ratio is presently 15.93%.

Insider Transactions at Installed Building Products

In related news, insider William Jeffrey Hire sold 5,000 shares of Installed Building Products stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the completion of the sale, the insider owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. The trade was a 13.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael H. Thomas sold 2,001 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total transaction of $536,828.28. Following the completion of the transaction, the director owned 8,373 shares in the company, valued at approximately $2,246,308.44. This trade represents a 19.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently made changes to their positions in IBP. Timucuan Asset Management Inc. FL lifted its holdings in Installed Building Products by 73.2% during the 2nd quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock worth $156,261,000 after purchasing an additional 366,250 shares during the last quarter. Eminence Capital LP increased its position in Installed Building Products by 48.5% during the 2nd quarter. Eminence Capital LP now owns 945,101 shares of the construction company’s stock worth $170,421,000 after buying an additional 308,717 shares during the period. TD Asset Management Inc lifted its holdings in shares of Installed Building Products by 2,169.2% during the third quarter. TD Asset Management Inc now owns 271,938 shares of the construction company’s stock worth $67,076,000 after buying an additional 259,954 shares in the last quarter. Orion Porfolio Solutions LLC boosted its position in shares of Installed Building Products by 4,659.1% in the second quarter. Orion Porfolio Solutions LLC now owns 171,897 shares of the construction company’s stock valued at $30,996,000 after acquiring an additional 168,285 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Installed Building Products by 84.1% in the second quarter. Ameriprise Financial Inc. now owns 276,690 shares of the construction company’s stock valued at $49,893,000 after acquiring an additional 126,435 shares during the period. Institutional investors own 99.61% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.