Installed Building Products (NYSE:IBP) Shares Gap Down to $254.36

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $254.36, but opened at $240.81. Installed Building Products shares last traded at $243.01, with a volume of 356,659 shares trading hands.

Wall Street Analysts Forecast Growth

IBP has been the subject of several research reports. The Goldman Sachs Group restated a "buy" rating on shares of Installed Building Products in a research report on Thursday, February 1st. Loop Capital upgraded shares of Installed Building Products from a "hold" rating to a "buy" rating in a research report on Monday, January 8th. Royal Bank of Canada raised their price objective on shares of Installed Building Products from $188.00 to $216.00 and gave the company a "sector perform" rating in a research report on Friday, February 23rd. Evercore ISI raised their price objective on shares of Installed Building Products from $226.00 to $272.00 and gave the company an "outperform" rating in a research report on Tuesday, April 2nd. Finally, JPMorgan Chase & Co. lowered shares of Installed Building Products from an "overweight" rating to a "neutral" rating and raised their target price for the company from $199.00 to $242.00 in a research note on Wednesday, February 28th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Installed Building Products currently has an average rating of "Moderate Buy" and an average price target of $208.40.

Installed Building Products Stock Down 5.5 %

The firm's 50 day moving average is $233.24 and its two-hundred day moving average is $179.90. The firm has a market cap of $6.82 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 1.57 and a beta of 1.89. The company has a current ratio of 3.09, a quick ratio of 2.62 and a debt-to-equity ratio of 1.26.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business had revenue of $720.70 million for the quarter, compared to analyst estimates of $688.59 million. During the same quarter last year, the firm earned $2.34 EPS. Installed Building Products's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts anticipate that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Friday, March 15th were paid a dividend of $1.60 per share. This is a positive change from Installed Building Products's previous quarterly dividend of $0.33. The ex-dividend date was Thursday, March 14th. This represents a $6.40 annualized dividend and a yield of 2.66%. Installed Building Products's dividend payout ratio (DPR) is presently 16.26%.

Insider Buying and Selling

In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of Installed Building Products stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $244.22, for a total value of $273,282.18. Following the transaction, the chief operating officer now owns 6,679 shares of the company's stock, valued at $1,631,145.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Installed Building Products news, COO Brad A. Wheeler sold 1,119 shares of Installed Building Products stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $244.22, for a total value of $273,282.18. Following the transaction, the chief operating officer now owns 6,679 shares of the company's stock, valued at $1,631,145.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,176 shares in the company, valued at approximately $1,675,596. The disclosure for this sale can be found here. Insiders have sold 6,619 shares of company stock valued at $1,606,732 in the last 90 days. 17.90% of the stock is owned by insiders.

Institutional Trading of Installed Building Products

A number of hedge funds and other institutional investors have recently made changes to their positions in IBP. Russell Investments Group Ltd. increased its holdings in Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company's stock worth $25,000 after buying an additional 101 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Installed Building Products in the fourth quarter valued at about $25,000. Hexagon Capital Partners LLC boosted its position in shares of Installed Building Products by 253.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company's stock valued at $27,000 after acquiring an additional 104 shares during the period. Annapolis Financial Services LLC boosted its position in shares of Installed Building Products by 45.7% in the fourth quarter. Annapolis Financial Services LLC now owns 169 shares of the construction company's stock valued at $31,000 after acquiring an additional 53 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Installed Building Products in the fourth quarter valued at about $32,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.