Installed Building Products (IBP) Hits New 1-Year Low at $32.20

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Installed Building Products Inc (NYSE:IBP) hit a new 52-week low on Thursday . The company traded as low as $32.20 and last traded at $32.05, with a volume of 8808 shares changing hands. The stock had previously closed at $33.33.

A number of brokerages have weighed in on IBP. Evercore ISI began coverage on Installed Building Products in a report on Thursday, June 28th. They issued an “in-line” rating and a $65.00 target price on the stock. Royal Bank of Canada raised their target price on Installed Building Products to $71.00 and gave the company an “outperform” rating in a report on Wednesday, June 27th. They noted that the move was a valuation call. Zacks Investment Research downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. ValuEngine raised Installed Building Products from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, Stephens reaffirmed a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Installed Building Products presently has an average rating of “Hold” and a consensus price target of $61.30.

The company has a debt-to-equity ratio of 2.04, a current ratio of 2.80 and a quick ratio of 2.50. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 0.48 and a beta of 0.78.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.03). Installed Building Products had a net margin of 3.70% and a return on equity of 24.57%. The firm had revenue of $332.60 million for the quarter, compared to analyst estimates of $334.24 million. During the same period last year, the business earned $0.59 EPS. The company’s revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts anticipate that Installed Building Products Inc will post 2.65 earnings per share for the current year.

In related news, CEO Jeffrey W. Edwards sold 107,039 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $52.30, for a total transaction of $5,598,139.70. Following the sale, the chief executive officer now owns 351,071 shares of the company’s stock, valued at approximately $18,361,013.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeffrey W. Edwards sold 92,649 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $48.46, for a total value of $4,489,770.54. Following the sale, the chief executive officer now directly owns 300,159 shares in the company, valued at approximately $14,545,705.14. The disclosure for this sale can be found here. Company insiders own 31.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. Northern Trust Corp boosted its holdings in shares of Installed Building Products by 0.7% during the 1st quarter. Northern Trust Corp now owns 273,868 shares of the construction company’s stock valued at $16,445,000 after acquiring an additional 1,888 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Installed Building Products by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 883,243 shares of the construction company’s stock valued at $53,039,000 after acquiring an additional 18,353 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Installed Building Products by 12.9% during the 1st quarter. OppenheimerFunds Inc. now owns 11,494 shares of the construction company’s stock valued at $690,000 after acquiring an additional 1,317 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Installed Building Products during the 1st quarter valued at $221,000. Finally, A.R.T. Advisors LLC bought a new position in Installed Building Products during the 1st quarter worth $1,398,000. 70.01% of the stock is currently owned by institutional investors.

About Installed Building Products (NYSE:IBP)

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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