Installed Building Products, Inc. (NYSE:IBP - Get Free Report)'s stock price dropped 6.5% during trading on Tuesday . The company traded as low as $218.41 and last traded at $221.80. Approximately 160,418 shares were traded during trading, a decline of 37% from the average daily volume of 253,579 shares. The stock had previously closed at $237.25.
Wall Street Analysts Forecast Growth
IBP has been the subject of a number of recent analyst reports. Truist Financial upped their price target on shares of Installed Building Products from $200.00 to $235.00 and gave the company a "hold" rating in a report on Friday, February 23rd. StockNews.com upgraded shares of Installed Building Products from a "hold" rating to a "buy" rating in a report on Friday, February 16th. The Goldman Sachs Group reiterated a "buy" rating on shares of Installed Building Products in a report on Thursday, February 1st. JPMorgan Chase & Co. downgraded shares of Installed Building Products from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $199.00 to $242.00 in a research report on Wednesday, February 28th. Finally, Evercore ISI boosted 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. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of "Moderate Buy" and a consensus price target of $208.40.
Read Our Latest Research Report on IBP
Installed Building Products Stock Down 4.7 %
The stock's 50-day moving average price is $235.72 and its two-hundred day moving average price is $182.78. The stock has a market capitalization of $6.43 billion, a PE ratio of 26.28 and a beta of 1.89. The company has a debt-to-equity ratio of 1.26, a quick ratio of 2.62 and a current ratio of 3.09.
Installed Building Products (NYSE:IBP - Get Free Report) last released its earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share for the quarter, topping analysts' consensus estimates of $2.42 by $0.03. The firm had revenue of $720.70 million for the quarter, compared to the consensus estimate of $688.59 million. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The company's revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.34 EPS. As a group, analysts expect that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.
Installed Building Products Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, March 31st. Stockholders of record on Friday, March 15th were given a $1.60 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Installed Building Products's previous quarterly dividend of $0.33. This represents a $6.40 dividend on an annualized basis and a dividend yield of 2.83%. Installed Building Products's dividend payout ratio is currently 16.26%.
Insider Transactions at Installed Building Products
In other news, CAO Todd R. Fry sold 500 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total value of $116,750.00. Following the sale, the chief accounting officer now directly owns 7,176 shares of the company's stock, valued at approximately $1,675,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Todd R. Fry sold 500 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $233.50, for a total transaction of $116,750.00. Following the sale, the chief accounting officer now directly owns 7,176 shares of the company's stock, valued at approximately $1,675,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Thomas Miller sold 5,000 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $243.34, for a total transaction of $1,216,700.00. Following the sale, the chief financial officer now directly owns 38,320 shares in the company, valued at $9,324,788.80. 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 three months. 17.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Installed Building Products
Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Installed Building Products by 16.9% during the 1st quarter. JPMorgan Chase & Co. now owns 20,337 shares of the construction company's stock worth $1,718,000 after acquiring an additional 2,940 shares during the period. Bank of Montreal Can grew its holdings in Installed Building Products by 2.6% during the 1st quarter. Bank of Montreal Can now owns 8,295 shares of the construction company's stock valued at $730,000 after buying an additional 209 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Installed Building Products by 51.7% during the 1st quarter. MetLife Investment Management LLC now owns 12,596 shares of the construction company's stock valued at $1,064,000 after buying an additional 4,291 shares in the last quarter. Rhumbline Advisers grew its holdings in Installed Building Products by 8.9% during the 1st quarter. Rhumbline Advisers now owns 58,380 shares of the construction company's stock valued at $4,933,000 after buying an additional 4,791 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Installed Building Products by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,232 shares of the construction company's stock valued at $1,709,000 after buying an additional 2,494 shares in the last quarter. Institutional investors own 99.61% of the company's stock.
About Installed Building Products
(
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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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