Installed Building Products (NYSE:IBP) Reaches New 1-Year Low – Here’s Why

Shares of Installed Building Products, Inc. (NYSE:IBP) hit a new 52-week low during trading on Friday. The company traded as low as $192.65 and last traded at $194.2660, with a volume of 29048 shares trading hands. The stock had previously closed at $196.29.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Evercore set a $222.00 price objective on shares of Installed Building Products in a report on Friday. Wells Fargo & Company lowered their target price on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating on the stock in a report on Friday, September 11th. Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. DA Davidson raised their price target on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $245.36.

Installed Building Products Stock Performance

The stock has a market capitalization of $5.26 billion, a PE ratio of 21.31, a P/E/G ratio of 3.95 and a beta of 1.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The business’s fifty day moving average price is $228.79 and its 200-day moving average price is $239.42.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The company had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. Installed Building Products’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $2.95 earnings per share. As a group, equities research analysts expect that Installed Building Products, Inc. will post 9.89 EPS for the current year.

Installed Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.79%.

Insider Activity at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in IBP. Abel Hall LLC boosted its holdings in shares of Installed Building Products by 2.8% in the first quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock worth $342,000 after buying an additional 35 shares during the last quarter. Petros Family Wealth LLC increased its holdings in Installed Building Products by 4.6% during the first quarter. Petros Family Wealth LLC now owns 905 shares of the construction company’s stock valued at $240,000 after buying an additional 40 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Installed Building Products by 5.0% during the first quarter. Lazard Asset Management LLC now owns 1,070 shares of the construction company’s stock valued at $284,000 after buying an additional 51 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Installed Building Products by 29.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock worth $67,000 after acquiring an additional 59 shares during the period. Finally, Glenmede Trust Co. NA raised its position in Installed Building Products by 2.6% in the first quarter. Glenmede Trust Co. NA now owns 2,537 shares of the construction company’s stock worth $673,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.