Installed Building Products (NYSE:IBP) Hits New 12-Month Low at $75.60

Installed Building Products, Inc. (NYSE:IBPGet Rating) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $75.60 and last traded at $75.66, with a volume of 5995 shares. The stock had previously closed at $84.70.

Several research analysts have recently commented on IBP shares. BTIG Research decreased their target price on Installed Building Products from $124.00 to $108.00 in a research report on Friday, May 6th. Credit Suisse Group began coverage on Installed Building Products in a research report on Tuesday, April 5th. They set a “neutral” rating and a $95.00 price objective for the company. The Goldman Sachs Group reduced their price objective on Installed Building Products from $114.00 to $95.00 and set a “neutral” rating for the company in a research report on Tuesday, April 12th. JPMorgan Chase & Co. reduced their price objective on Installed Building Products from $101.00 to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, April 20th. Finally, StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Friday, May 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $113.33.

The company has a debt-to-equity ratio of 2.13, a quick ratio of 2.08 and a current ratio of 2.57. The stock has a 50 day moving average price of $86.96 and a 200 day moving average price of $103.51. The company has a market cap of $2.32 billion, a P/E ratio of 17.30 and a beta of 1.76.

Installed Building Products (NYSE:IBPGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The construction company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.46. Installed Building Products had a return on equity of 45.84% and a net margin of 6.38%. The business had revenue of $587.50 million for the quarter, compared to the consensus estimate of $541.59 million. During the same quarter in the previous year, the company posted $0.90 earnings per share. Installed Building Products’s revenue for the quarter was up 34.4% compared to the same quarter last year. As a group, equities research analysts predict that Installed Building Products, Inc. will post 7.16 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be given a $0.315 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 1.59%. Installed Building Products’s dividend payout ratio is currently 27.57%.

Several hedge funds and other institutional investors have recently bought and sold shares of IBP. First Trust Advisors LP lifted its position in shares of Installed Building Products by 273.2% during the 1st quarter. First Trust Advisors LP now owns 57,557 shares of the construction company’s stock worth $2,792,000 after purchasing an additional 42,136 shares during the last quarter. Morgan Stanley raised its holdings in Installed Building Products by 14.7% in the 2nd quarter. Morgan Stanley now owns 174,419 shares of the construction company’s stock valued at $21,342,000 after acquiring an additional 22,400 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Installed Building Products in the 3rd quarter valued at approximately $208,000. Voya Investment Management LLC raised its holdings in Installed Building Products by 1.0% in the 3rd quarter. Voya Investment Management LLC now owns 16,497 shares of the construction company’s stock valued at $1,768,000 after acquiring an additional 164 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Installed Building Products by 10.1% in the 3rd quarter. Royal Bank of Canada now owns 244,046 shares of the construction company’s stock valued at $26,150,000 after acquiring an additional 22,374 shares in the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile (NYSE:IBP)

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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