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. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials. It is also involved in the installation of insulation and sealant materials in various areas of a structure, which includes basement and crawl space, building envelope, attic, and acoustical applications. In addition, the company installs a range of caulk and sealant products that control air infiltration in residential and commercial buildings; and waterproofing options, including sheet and hot applied waterproofing membranes, as well as deck coating, bentonite, and air and vapor systems. It serves homebuilders, multi-family and commercial construction firms, individual homeowners, and repair and remodeling contractors through a network of approximately 210 branch locations. The company was formerly known as CCIB Holdco, Inc. Installed Building Products, Inc. was founded in 1977 and is based in Columbus, Ohio.
Analysts Set New Price Targets
A number of research firms have issued reports on IBP. JPMorgan Chase & Co. decreased their price objective on Installed Building Products from $101.00 to $88.00 and set a "neutral" rating for the company in a report on Wednesday, April 20th. BTIG Research downgraded Installed Building Products from a "buy" rating to a "neutral" rating in a report on Friday, August 5th. StockNews.com upgraded Installed Building Products from a "hold" rating to a "buy" rating in a report on Monday. Royal Bank of Canada downgraded Installed Building Products from a "sector perform" rating to an "underperform" rating and decreased their price objective for the stock from $91.00 to $71.00 in a report on Wednesday, June 22nd. Finally, The Goldman Sachs Group decreased their price objective on Installed Building Products from $105.00 to $90.00 and set a "neutral" rating for the company in a report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $106.40.
Installed Building Products Stock Up 4.0 %
Shares of NYSE:IBP traded up $3.98 during trading on Thursday, reaching $104.30. The company had a trading volume of 1,120 shares, compared to its average volume of 161,041. Installed Building Products has a 12-month low of $69.44 and a 12-month high of $141.43. The stock has a market cap of $3.00 billion, a PE ratio of 19.39 and a beta of 1.79. The business's 50-day moving average is $90.77 and its 200 day moving average is $92.71. The company has a quick ratio of 1.72, a current ratio of 2.25 and a debt-to-equity ratio of 2.08.
Installed Building Products (NYSE:IBP - Get Rating) last released its earnings results on Thursday, August 4th. The construction company reported $2.48 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.54. Installed Building Products had a return on equity of 50.89% and a net margin of 6.85%. The firm had revenue of $676.70 million for the quarter, compared to analysts' expectations of $611.12 million. During the same period in the prior year, the firm posted $1.59 earnings per share. The company's quarterly revenue was up 38.6% on a year-over-year basis. As a group, equities analysts forecast that Installed Building Products will post 7.38 earnings per share for the current fiscal year.
Installed Building Products Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.26 annualized dividend and a dividend yield of 1.21%. Installed Building Products's dividend payout ratio (DPR) is presently 23.42%.
Insider Activity at Installed Building Products
In related news, Director Michael H. Thomas sold 2,491 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $101.05, for a total transaction of $251,715.55. Following the sale, the director now directly owns 8,669 shares of the company's stock, valued at $876,002.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 17.90% of the stock is currently owned by insiders.