Shares of Installed Building Products, Inc. (NYSE:IBP – Get Free Report) reached a new 52-week low 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.
A number of other equities analysts also recently issued reports on IBP. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Wall Street Zen lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, September 27th. Wells Fargo & Company dropped their price objective on Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Friday, September 11th. Evercore set a $222.00 price objective on shares of Installed Building Products in a research note on Friday, September 25th. Finally, Stifel Nicolaus initiated coverage on shares of Installed Building Products in a research note on Monday, September 14th. They issued a “buy” rating and a $240.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $240.17.
Read Our Latest Analysis on Installed Building Products
Insider Transactions at Installed Building Products
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Installed Building Products in the 2nd quarter worth approximately $1,055,034,000. Giverny Capital Inc. boosted its holdings in shares of Installed Building Products by 0.9% in the 4th quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock valued at $134,685,000 after acquiring an additional 4,500 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Installed Building Products by 52.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock worth $92,138,000 after acquiring an additional 122,561 shares during the period. Bank of America Corp DE raised its holdings in shares of Installed Building Products by 51.8% during the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock worth $79,208,000 after purchasing an additional 101,967 shares during the last quarter. Finally, Bamco Inc. NY purchased a new position in shares of Installed Building Products during the second quarter worth $45,580,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.
Installed Building Products Stock Down 5.1%
The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 3.56 and a beta of 1.71. The business’s 50-day moving average is $223.47 and its 200-day moving average is $234.30.
Installed Building Products (NYSE:IBP – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The business had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $2.95 EPS. As a group, equities analysts predict that Installed Building Products, Inc. will post 9.89 earnings per share for the current year.
Installed Building Products Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend 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.
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