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Installed Building Products Sees Unusually High Options Volume (NYSE:IBP)

Wednesday, September 16, 2020 | MarketBeat

Installed Building Products Inc (NYSE:IBP) was the target of some unusual options trading on Tuesday. Stock traders acquired 513 put options on the company. This represents an increase of approximately 926% compared to the average daily volume of 50 put options.

Shares of IBP stock traded up $3.49 on Wednesday, reaching $99.17. 784 shares of the stock were exchanged, compared to its average volume of 270,434. The company has a current ratio of 2.90, a quick ratio of 2.57 and a debt-to-equity ratio of 2.01. The business's 50 day moving average price is $87.41 and its 200 day moving average price is $64.80. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 34.92 and a beta of 1.86. Installed Building Products has a twelve month low of $29.02 and a twelve month high of $98.10.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 6th. The construction company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.35. The firm had revenue of $393.94 million during the quarter, compared to the consensus estimate of $372.61 million. Installed Building Products had a net margin of 5.14% and a return on equity of 45.67%. The company's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Equities research analysts forecast that Installed Building Products will post 4.01 earnings per share for the current year.

Several analysts have recently commented on the stock. TheStreet raised shares of Installed Building Products from a "c" rating to a "b-" rating in a research report on Wednesday, May 27th. BTIG Research boosted their target price on Installed Building Products from $87.00 to $105.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Zacks Investment Research raised Installed Building Products from a "hold" rating to a "strong-buy" rating and set a $99.00 target price on the stock in a research report on Thursday, August 13th. Credit Suisse Group initiated coverage on Installed Building Products in a research report on Wednesday, May 27th. They issued an "outperform" rating and a $79.00 target price on the stock. Finally, Zelman & Associates raised Installed Building Products from a "hold" rating to a "buy" rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. The stock has an average rating of "Buy" and an average price target of $76.62.

In related news, CEO Jeffrey W. Edwards sold 300,000 shares of Installed Building Products stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $84.00, for a total value of $25,200,000.00. Following the sale, the chief executive officer now directly owns 105,141 shares in the company, valued at approximately $8,831,844. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jason R. Niswonger sold 1,250 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $88.20, for a total value of $110,250.00. Following the transaction, the senior vice president now owns 19,988 shares in the company, valued at $1,762,941.60. The disclosure for this sale can be found here. Insiders have sold a total of 630,644 shares of company stock valued at $55,331,580 in the last quarter. Company insiders own 24.00% of the company's stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Installed Building Products by 31.5% in the second quarter. FMR LLC now owns 522 shares of the construction company's stock valued at $36,000 after acquiring an additional 125 shares in the last quarter. Arizona State Retirement System boosted its stake in Installed Building Products by 2.6% in the second quarter. Arizona State Retirement System now owns 5,420 shares of the construction company's stock valued at $373,000 after acquiring an additional 135 shares in the last quarter. US Bancorp DE boosted its stake in Installed Building Products by 34.1% in the second quarter. US Bancorp DE now owns 609 shares of the construction company's stock valued at $42,000 after acquiring an additional 155 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Installed Building Products by 3.9% in the first quarter. BNP Paribas Arbitrage SA now owns 7,059 shares of the construction company's stock valued at $281,000 after acquiring an additional 266 shares in the last quarter. Finally, Alps Advisors Inc. boosted its stake in Installed Building Products by 4.8% in the first quarter. Alps Advisors Inc. now owns 6,142 shares of the construction company's stock valued at $245,000 after acquiring an additional 279 shares in the last quarter. Institutional investors own 67.83% 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 continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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