Installed Building Products (NYSE:IBP) Hits New 12-Month Low - What's Next?

Key Points

• Installed Building Products shares fell to a new 52-week low of $192.65, below both the 50-day ($228.79) and 200-day ($239.42) moving averages. Analysts maintain a consensus “Hold” rating with an average price target of $245.36.
• The company’s latest quarterly results exceeded expectations, with EPS of $2.91 versus the $2.55 consensus and revenue of $777.8 million versus $743.3 million. Revenue increased 2.3% year over year.
• Installed Building Products declared a quarterly dividend of $0.39, equivalent to $1.56 annually and a 0.8% yield. Institutional investors own 99.61% of the shares, while an insider recently sold 1,086 shares.

Installed Building Products, Inc. (NYSE:IBP - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $192.65 and last traded at $194.2660, with a volume of 29048 shares traded. The stock had previously closed at $196.29.

Wall Street Analyst Weigh In

A number of research firms have issued reports on IBP. Wall Street Zen raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a report on Saturday, September 19th. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Evercore set a $222.00 price objective on shares of Installed Building Products in a research report on Friday. Weiss Ratings reissued a "hold (c)" rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Finally, DA Davidson boosted their target price on Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a research note on Monday, August 10th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has a consensus rating of "Hold" and an average price target of $245.36.

Installed Building Products Stock Up 0.9%

The company has a market capitalization of $5.26 billion, a PE ratio of 21.31, a P/E/G ratio of 3.95 and a beta of 1.71. The stock's fifty day moving average is $228.79 and its two-hundred day moving average is $239.42. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.36. The business had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.95 earnings per share. As a group, analysts predict that Installed Building Products, Inc. will post 9.89 EPS for the current year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Installed Building Products's payout ratio is 16.79%.

Insider Buying and Selling

In related news, Director Janet Jackson sold 1,086 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director owned 5,142 shares in the company, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 13.80% of the company's stock.

Institutional Trading of Installed Building Products

Several hedge funds have recently made changes to their positions in IBP. Anchor Investment Management LLC grew its stake in shares of Installed Building Products by 11.7% during the 2nd quarter. Anchor Investment Management LLC now owns 1,340 shares of the construction company's stock worth $308,000 after acquiring an additional 140 shares during the period. WINTON GROUP Ltd bought a new stake in Installed Building Products in the 2nd quarter valued at about $1,180,000. Engineers Gate Manager LP purchased a new stake in Installed Building Products during the second quarter valued at about $695,000. Summit Financial Strategies Inc. lifted its holdings in Installed Building Products by 79.2% during the second quarter. Summit Financial Strategies Inc. now owns 5,189 shares of the construction company's stock valued at $1,193,000 after purchasing an additional 2,293 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its position in Installed Building Products by 27.0% during the second quarter. Beacon Investment Advisory Services Inc. now owns 15,203 shares of the construction company's stock worth $3,494,000 after purchasing an additional 3,229 shares during the period. 99.61% of the stock is currently owned by institutional investors.

About Installed Building Products

Installed Building Products, Inc NYSE: IBP is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.

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