Installed Building Products (NYSE:IBP) Sets New 1-Year High - Still a Buy?

Key Points

• Installed Building Products (NYSE:IBP) reached a new 52-week high of $275.76, closing at $273.40 with a total volume of 635,381 shares.
• The company reported earnings per share of $2.95 for the last quarter, exceeding analyst expectations and showing a 3.1% revenue increase year-over-year.
• A quarterly dividend of $0.37 will be paid to investors of record on September 15th, representing an annualized yield of 0.5%.

Installed Building Products, Inc. (NYSE:IBP - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $275.76 and last traded at $273.40, with a volume of 635381 shares trading hands. The stock had previously closed at $263.18.

Analysts Set New Price Targets

Several research firms have recently commented on IBP. Benchmark decreased their target price on 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. DA Davidson downgraded Installed Building Products from a "strong-buy" rating to a "hold" rating and upped their target price for the company from $225.00 to $252.00 in a research report on Tuesday. Danske downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price on the stock. in a research report on Tuesday. Zelman & Associates raised Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Finally, Loop Capital downgraded Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price on the stock. in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $217.36.

Installed Building Products Stock Up 0.4%

The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 29.80 and a beta of 1.73. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. The stock has a 50-day moving average of $199.54 and a 200-day moving average of $180.31.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.45 by $0.50. The business had revenue of $760.30 million for the quarter, compared to the consensus estimate of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.84 earnings per share. Sell-side analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, September 15th. Installed Building Products's dividend payout ratio (DPR) is currently 16.46%.

Insiders Place Their Bets

In other Installed Building Products news, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the sale, the insider owned 37,999 shares of the company's stock, valued at approximately $10,096,714.29. This trade represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $257.27, for a total value of $128,635.00. Following the completion of the sale, the chief accounting officer directly owned 6,822 shares in the company, valued at approximately $1,755,095.94. This represents a 6.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.20% of the company's stock.

Institutional Investors Weigh In On Installed Building Products

A number of large investors have recently modified their holdings of IBP. Bank of Montreal Can boosted its holdings in shares of Installed Building Products by 12.7% during the 4th quarter. Bank of Montreal Can now owns 4,398 shares of the construction company's stock valued at $771,000 after acquiring an additional 496 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Installed Building Products by 365.3% during the 4th quarter. Renaissance Technologies LLC now owns 22,800 shares of the construction company's stock valued at $3,996,000 after acquiring an additional 17,900 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Installed Building Products during the 4th quarter valued at $23,776,000. Townsquare Capital LLC boosted its holdings in shares of Installed Building Products by 40.5% during the 4th quarter. Townsquare Capital LLC now owns 1,406 shares of the construction company's stock valued at $246,000 after acquiring an additional 405 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Installed Building Products by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,507 shares of the construction company's stock valued at $439,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds 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.