Installed Building Products (NYSE:IBP) Shares Gap Down – Should You Sell?

Installed Building Products, Inc. (NYSE:IBP) shares gapped down prior to trading on Tuesday . The stock had previously closed at $302.97, but opened at $290.93. Installed Building Products shares last traded at $307.2750, with a volume of 53,644 shares.

Analyst Ratings Changes

A number of equities research analysts recently commented on IBP shares. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $245.00 price target on shares of Installed Building Products in a report on Tuesday. Wells Fargo & Company began coverage on Installed Building Products in a research report on Monday, November 17th. They set an “equal weight” rating for the company. Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Installed Building Products in a research report on Monday, December 29th. Finally, Royal Bank Of Canada boosted their target price on shares of Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $227.91.

Installed Building Products Stock Up 1.7%

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 company has a market capitalization of $8.36 billion, a P/E ratio of 33.17, a PEG ratio of 5.47 and a beta of 1.91. The company has a 50 day simple moving average of $264.59 and a two-hundred day simple moving average of $248.62.

Installed Building Products (NYSE:IBP) last issued its earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $751.98 million. During the same period in the previous year, the company posted $2.85 EPS. Installed Building Products’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The firm 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 was Monday, December 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.5%. Installed Building Products’s payout ratio is 15.93%.

Insider Activity

In other Installed Building Products news, Director Michael H. Thomas sold 2,001 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total transaction of $536,828.28. Following the transaction, the director owned 8,373 shares of the company’s stock, valued at approximately $2,246,308.44. The trade was a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the insider owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. This represents a 13.16% decrease in their ownership of the stock. 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 modified their holdings of IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Installed Building Products by 3.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after acquiring an additional 486 shares during the last quarter. United Services Automobile Association acquired a new stake in Installed Building Products during the first quarter valued at approximately $263,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Installed Building Products by 190.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,292 shares of the construction company’s stock valued at $51,831,000 after buying an additional 198,391 shares during the last quarter. Jane Street Group LLC lifted its stake in Installed Building Products by 270.0% in the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock valued at $2,948,000 after buying an additional 12,545 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Installed Building Products during the first quarter worth approximately $309,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Company Profile

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.