Installed Building Products (NYSE:IBP) Share Price Breaks Above Fifty Day Moving Average – What’s Next?

Installed Building Products, Inc. (NYSE:IBP) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $207.51 and traded as high as $212.54. Installed Building Products shares last traded at $212.1550, with a volume of 382,632 shares traded.

Wall Street Analysts Forecast Growth

IBP has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, October 16th. Royal Bank Of Canada decreased their target price on shares of Installed Building Products from $228.00 to $208.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 7th. Zacks Research downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. DA Davidson upped their target price on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, The Goldman Sachs Group cut their price objective on shares of Installed Building Products from $297.00 to $257.00 and set a “buy” rating for the company in a report on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $229.08.

Installed Building Products Price Performance

The firm has a market cap of $5.64 billion, a P/E ratio of 22.84, a PEG ratio of 7.94 and a beta of 1.71. 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’s 50-day simple moving average is $207.51 and its two-hundred day simple moving average is $247.99.

Installed Building Products (NYSE:IBP) last released 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 during the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.95 EPS. Equities research analysts forecast that Installed Building Products, Inc. will post 9.75 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.79%.

Insider Activity

In other news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director directly owned 5,142 shares in the company, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Installed Building Products in the 2nd quarter valued at about $1,055,034,000. Reinhart Partners LLC. acquired a new stake in shares of Installed Building Products in the third quarter worth $87,114,000. Bank of America Corp DE acquired a new stake in Installed Building Products during the 2nd quarter worth about $62,418,000. Bamco Inc. NY purchased a new position in Installed Building Products during the second quarter valued at approximately $45,580,000. Finally, Paralel Advisors LLC acquired a new position in Installed Building Products in the second quarter valued at approximately $37,924,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.