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.
Analyst Ratings Changes
A number of brokerages have issued reports on IBP. The Goldman Sachs Group reduced their price objective on shares of Installed Building Products from $105.00 to $90.00 and set a "neutral" rating on the stock in a research report on Thursday, June 23rd. Royal Bank of Canada lowered shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and lowered their price objective for the stock from $91.00 to $71.00 in a report on Wednesday, June 22nd. Zelman & Associates downgraded Installed Building Products from a "buy" rating to a "hold" rating in a report on Friday, August 5th. Stephens raised their target price on Installed Building Products from $100.00 to $110.00 and gave the company an "equal weight" rating in a research note on Monday, August 8th. Finally, JPMorgan Chase & Co. dropped their price target on Installed Building Products from $101.00 to $88.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $106.40.
Installed Building Products Price Performance
IBP opened at $104.80 on Friday. The firm has a market cap of $3.01 billion, a PE ratio of 19.48 and a beta of 1.79. The stock has a 50-day moving average price of $91.05 and a 200-day moving average price of $92.54. Installed Building Products has a 1 year low of $69.44 and a 1 year high of $141.43. The company has a debt-to-equity ratio of 2.08, a current ratio of 2.25 and a quick ratio of 1.72.
Installed Building Products (NYSE:IBP - Get Rating) last released its quarterly earnings data on Thursday, August 4th. The construction company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.54. Installed Building Products had a net margin of 6.85% and a return on equity of 50.89%. The business had revenue of $676.70 million during the quarter, compared to analyst estimates of $611.12 million. During the same period last year, the business earned $1.59 EPS. Installed Building Products's revenue was up 38.6% compared to the same quarter last year. Sell-side analysts predict that Installed Building Products will post 7.92 earnings per share for the current fiscal year.
Installed Building Products Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.315 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.26 annualized dividend and a yield of 1.20%. Installed Building Products's dividend payout ratio is 23.42%.
Insiders Place Their Bets
In other news, Director Michael H. Thomas sold 2,491 shares of the business's stock in a transaction on Monday, August 8th. The stock was sold at an average price of $101.05, for a total value of $251,715.55. Following the completion of the transaction, the director now owns 8,669 shares in the company, valued at $876,002.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 17.90% of the company's stock.