Installed Building Products (NYSE:IBP) Hits New 1-Year High Following Better-Than-Expected Earnings

Key Points

• Installed Building Products (IBP) reached a new 52-week high of $263.20 following a strong quarterly earnings report, which included $2.95 EPS, exceeding the consensus estimate by $0.50.
• The company's revenue for the quarter was $760.30 million, surpassing analyst expectations of $711.37 million, indicating a year-over-year growth of 3.1%.
• Analysts have mixed reviews on IBP, with a consensus rating of "Hold," and several firms adjusting their price targets, including Benchmark lowering its target from $210.00 to $185.00.

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $263.20 and last traded at $255.57, with a volume of 1764779 shares changing hands. The stock had previously closed at $211.82.

The construction company reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.50. The company had revenue of $760.30 million for the quarter, compared to analyst estimates of $711.37 million. Installed Building Products had a net margin of 8.39% and a return on equity of 60.73%. The firm's revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.84 EPS.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on IBP shares. Loop Capital reduced their price objective on shares of Installed Building Products from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Royal Bank Of Canada reiterated an "underperform" rating on shares of Installed Building Products in a research report on Thursday. Finally, Benchmark dropped their target price on shares of Installed Building Products from $210.00 to $185.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $209.70.

Institutional Trading of Installed Building Products

Institutional investors and hedge funds have recently made changes to their positions in the company. Curio Wealth LLC raised its holdings in shares of Installed Building Products by 16,800.0% in the second quarter. Curio Wealth LLC now owns 169 shares of the construction company's stock valued at $30,000 after purchasing an additional 168 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Installed Building Products by 142.1% in the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock valued at $32,000 after purchasing an additional 108 shares during the last quarter. SRH Advisors LLC grew its position in Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company's stock valued at $37,000 after buying an additional 85 shares during the period. Fifth Third Bancorp grew its position in Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after buying an additional 97 shares during the period. Finally, McIlrath & Eck LLC grew its position in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock valued at $44,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 99.61% of the company's stock.

Installed Building Products Stock Performance

The company has a market cap of $7.06 billion, a P/E ratio of 29.14 and a beta of 1.73. The company's 50-day moving average is $187.62 and its two-hundred day moving average is $177.83. The company has a quick ratio of 2.31, a current ratio of 2.89 and a debt-to-equity ratio of 1.28.

Installed Building Products Company Profile

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.

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