Installed Building Products (NYSE:IBP) Trading Up 5.7% – Time to Buy?

Installed Building Products, Inc. (NYSE:IBP)’s stock price was up 5.7% on Friday . The company traded as high as $259.94 and last traded at $257.3260. Approximately 80,779 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 422,513 shares. The stock had previously closed at $243.51.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IBP shares. Vertical Research assumed coverage on shares of Installed Building Products in a research report on Monday, October 20th. They set a “sell” rating for the company. Danske lowered Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price objective for the company. in a research note on Tuesday, August 12th. Wells Fargo & Company assumed coverage on Installed Building Products in a report on Monday. They issued an “equal weight” rating for the company. DA Davidson lowered Installed Building Products from a “buy” rating to a “hold” rating and raised their target price for the stock from $225.00 to $252.00 in a report on Tuesday, August 12th. Finally, Royal Bank Of Canada boosted their price target on Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Installed Building Products presently has an average rating of “Reduce” and an average price target of $224.45.

Installed Building Products Stock Performance

The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The firm has a market capitalization of $7.05 billion, a PE ratio of 29.00 and a beta of 1.81. The firm’s 50 day moving average price is $253.30 and its 200-day moving average price is $220.80.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company had revenue of $778.20 million during the quarter, compared to analysts’ expectations of $751.98 million. During the same quarter in the prior year, the firm posted $2.85 EPS. Installed Building Products’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, research analysts expect that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is currently 15.93%.

Insiders Place Their Bets

In related news, insider William Jeffrey Hire sold 5,000 shares of the company’s 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 completion of the transaction, the insider owned 32,999 shares in the company, valued at $8,303,538.37. This represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brad A. Wheeler sold 3,186 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the completion of the transaction, the chief operating officer directly owned 8,736 shares in the company, valued at $2,404,933.44. This represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in IBP. Danske Bank A S purchased a new stake in shares of Installed Building Products during the third quarter worth approximately $25,000. NewEdge Advisors LLC boosted its stake in Installed Building Products by 5,000.0% during the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after purchasing an additional 100 shares during the last quarter. Curio Wealth LLC grew its holdings in shares of Installed Building Products by 16,800.0% during the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after buying an additional 168 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Installed Building Products in the third quarter valued at about $33,000. Finally, SRH Advisors LLC lifted its stake in shares of Installed Building Products by 70.8% in the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.