Installed Building Products (NYSE:IBP) Hits New 52-Week Low – Time to Sell?

Installed Building Products, Inc. (NYSE:IBP) hit a new 52-week low during trading on Thursday. The company traded as low as $191.19 and last traded at $192.1030, with a volume of 303969 shares trading hands. The stock had previously closed at $193.94.

Wall Street Analyst Weigh In

IBP has been the topic of a number of research reports. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, September 27th. Evercore set a $222.00 target price on shares of Installed Building Products in a research note on Friday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Stifel Nicolaus started coverage on shares of Installed Building Products in a research note on Monday, September 14th. They set a “buy” rating and a $240.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, September 11th. Two equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $245.36.

Installed Building Products Trading Up 0.1%

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 stock has a market cap of $5.13 billion, a P/E ratio of 20.77, a PEG ratio of 3.59 and a beta of 1.71. The firm’s fifty day moving average price is $225.14 and its two-hundred day moving average price is $235.93.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. The firm had revenue of $777.80 million for 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%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.95 EPS. As a group, equities research analysts forecast that Installed Building Products, Inc. will post 9.89 EPS for the current year.

Installed Building Products Dividend Announcement

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

Insider Buying and Selling at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of Installed Building Products 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 sale, the director owned 5,142 shares in the company, valued at $1,218,962.52. The trade was a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 13.80% 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 the company. Meeder Asset Management Inc. purchased a new stake in shares of Installed Building Products in the 1st quarter worth $30,000. Keating Financial Advisory Services Inc. purchased a new position in Installed Building Products during the second quarter valued at $31,000. Parallel Advisors LLC grew its holdings in Installed Building Products by 446.7% during the first quarter. Parallel Advisors LLC now owns 164 shares of the construction company’s stock valued at $44,000 after purchasing an additional 134 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Installed Building Products during the second quarter valued at about $52,000. Finally, Rockefeller Capital Management L.P. increased 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 buying an additional 59 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.