Installed Building Products (NYSE:IBP) Reaches New 52-Week Low Following Analyst Downgrade

Installed Building Products, Inc. (NYSE:IBP)’s stock price reached a new 52-week low during trading on Wednesday after Royal Bank Of Canada lowered their price target on the stock from $228.00 to $208.00. Royal Bank Of Canada currently has a sector perform rating on the stock. Installed Building Products traded as low as $184.50 and last traded at $184.32, with a volume of 15613 shares trading hands. The stock had previously closed at $192.85.

Other analysts have also recently issued reports about the company. Stifel Nicolaus began coverage on Installed Building Products in a research report on Monday, September 14th. They issued a “buy” rating and a $240.00 price objective for the company. Zacks Research raised shares of Installed Building Products from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. Melius Research began coverage on shares of Installed Building Products in a report on Tuesday. They set a “hold” rating and a $217.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Finally, Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, September 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and a consensus target price of $240.17.

Insider Activity at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the sale, the director owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IBP. Vaughan Nelson Investment Management L.P. boosted its holdings in Installed Building Products by 3.9% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 133,953 shares of the construction company’s stock valued at $35,518,000 after purchasing an additional 5,042 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Installed Building Products during the 2nd quarter valued at approximately $12,305,000. Hsbc Holdings PLC purchased a new stake in shares of Installed Building Products during the 2nd quarter valued at approximately $20,435,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Installed Building Products in the second quarter valued at approximately $1,528,000. Finally, Bank of America Corp DE raised its position in Installed Building Products by 51.8% in the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock valued at $79,208,000 after purchasing an additional 101,967 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Performance

The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $4.86 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 3.56 and a beta of 1.71. The firm’s fifty day moving average is $223.47 and its 200-day moving average is $234.30.

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

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.39 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.9%. Installed Building Products’s dividend payout ratio is 16.79%.

Installed Building Products Company Profile

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.