Installed Building Products (NYSE:IBP) Share Price Breaks Above Fifty Day Moving Average - What's Next?

Key Points

• Installed Building Products shares rose above their 50-day moving average, reaching $212.54 and last trading near $212.16, compared with a 50-day average of $207.51.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating from MarketBeat, with 11 Holds, two Buys and one Sell, while the consensus price target is $229.08.
• The company reported quarterly adjusted earnings of $2.91 per share and revenue of $777.8 million, beating analyst expectations, and recently paid a $0.39 quarterly dividend, equal to a 0.7% annual yield.

Installed Building Products, Inc. (NYSE:IBP - Get Free Report) passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $207.51 and traded as high as $212.54. Installed Building Products shares last traded at $212.1550, with a volume of 382,632 shares traded.

Wall Street Analysts Forecast Growth

IBP has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on Installed Building Products from $240.00 to $195.00 and set an "equal weight" rating for the company in a research note on Friday, October 16th. Royal Bank Of Canada decreased their target price on shares of Installed Building Products from $228.00 to $208.00 and set a "sector perform" rating on the stock in a research note on Wednesday, October 7th. Zacks Research downgraded shares of Installed Building Products from a "strong-buy" rating to a "hold" rating in a report on Monday, October 12th. DA Davidson upped their target price on shares of Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Finally, The Goldman Sachs Group cut their price objective on shares of Installed Building Products from $297.00 to $257.00 and set a "buy" rating for the company in a report on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Installed Building Products presently has an average rating of "Hold" and a consensus price target of $229.08.

Installed Building Products Price Performance

The firm has a market cap of $5.64 billion, a P/E ratio of 22.84, a PEG ratio of 7.94 and a beta of 1.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The stock's 50-day simple moving average is $207.51 and its two-hundred day simple moving average is $247.99.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.36. The firm had revenue of $777.80 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.95 EPS. Equities research analysts forecast that Installed Building Products, Inc. will post 9.75 earnings per share for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Installed Building Products's dividend payout ratio (DPR) is currently 16.79%.

Insider Activity

In other news, Director Janet Jackson sold 1,086 shares of the company's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director directly 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 SEC, which is accessible through the SEC website. Corporate insiders own 13.80% of the company's stock.

Institutional Investors Weigh In On Installed Building Products

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Installed Building Products in the 2nd quarter valued at about $1,055,034,000. Reinhart Partners LLC. acquired a new stake in shares of Installed Building Products in the third quarter worth $87,114,000. Bank of America Corp DE acquired a new stake in Installed Building Products during the 2nd quarter worth about $62,418,000. Bamco Inc. NY purchased a new position in Installed Building Products during the second quarter valued at approximately $45,580,000. Finally, Paralel Advisors LLC acquired a new position in Installed Building Products in the second quarter valued at approximately $37,924,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

Installed Building Products Company Profile

Installed Building Products, Inc NYSE: IBP is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.