Installed Building Products (NYSE:IBP) Stock Price Up 17.8% - Time to Buy?

Key Points

• Installed Building Products' stock price surged 17.8% to $249.43, although trading volume significantly declined to 151,792 shares, reflecting a 63% drop from the average.
• Analysts have lowered price targets for the company, with Loop Capital and Benchmark reducing their ratings to $200.00 and $185.00 respectively, while the stock retains an overall “Hold” rating.
• The company reported $2.08 EPS in their latest earnings, missing expectations by $0.15, with revenues of $684.80 million slightly above estimates but down from the prior year.

Installed Building Products, Inc. (NYSE:IBP - Get Free Report)'s stock price shot up 17.8% during trading on Thursday . The stock traded as high as $250.00 and last traded at $249.43. 151,792 shares were traded during mid-day trading, a decline of 63% from the average session volume of 415,553 shares. The stock had previously closed at $211.82.

Analysts Set New Price Targets

IBP has been the topic of a number of recent research reports. Loop Capital dropped their price objective on Installed Building Products from $210.00 to $200.00 and set a "buy" rating for the company in a report on Monday, May 12th. Benchmark lowered their target price on Installed Building Products from $210.00 to $185.00 and set a "buy" rating for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $209.70.

Installed Building Products Trading Up 19.8%

The business has a 50 day moving average of $185.70 and a two-hundred day moving average of $177.42. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.31 and a current ratio of 2.89. The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of 29.02 and a beta of 1.73.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.15). The business had revenue of $684.80 million for the quarter, compared to the consensus estimate of $681.34 million. Installed Building Products had a return on equity of 60.73% and a net margin of 8.39%. The business's revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 earnings per share. Equities analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Institutional Trading of Installed Building Products

Large investors have recently bought and sold shares of the company. McIlrath & Eck LLC grew its stake in shares of Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after acquiring an additional 61 shares during the last quarter. Xponance Inc. increased its position in shares of Installed Building Products by 3.9% during the first quarter. Xponance Inc. now owns 1,802 shares of the construction company's stock valued at $309,000 after acquiring an additional 67 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Installed Building Products by 1.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock valued at $716,000 after acquiring an additional 68 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Installed Building Products by 2.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,568 shares of the construction company's stock worth $643,000 after purchasing an additional 70 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Installed Building Products by 7.1% during the first quarter. TD Private Client Wealth LLC now owns 1,134 shares of the construction company's stock valued at $194,000 after purchasing an additional 75 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

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.

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