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.
Installed Building Products Trading Up 2.3 %
IBP Stock opened at $102.60 on Friday. Installed Building Products has a 52-week low of $69.44 and a 52-week high of $141.43. The company has a quick ratio of 1.72, a current ratio of 2.25 and a debt-to-equity ratio of 2.08. The firm has a market cap of $2.95 billion, a P/E ratio of 19.07 and a beta of 1.79. The company's 50-day simple moving average is $90.88 and its 200-day simple moving average is $92.64.
Installed Building Products (NYSE:IBP - Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The construction company reported $2.48 EPS for the quarter, beating 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 business had revenue of $676.70 million during the quarter, compared to analysts' expectations of $611.12 million. During the same period in the previous year, the business earned $1.59 earnings per share. The business's revenue was up 38.6% compared to the same quarter last year. As a group, equities analysts forecast that Installed Building Products will post 7.92 EPS for the current fiscal year.
Installed Building Products Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Wednesday, September 14th. Installed Building Products's dividend payout ratio is presently 23.42%.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on IBP. Truist Financial cut their price objective on shares of Installed Building Products from $135.00 to $100.00 in a report on Friday, May 6th. Stephens boosted their price objective on shares of Installed Building Products from $100.00 to $110.00 and gave the company an "equal weight" rating in a report on Monday. StockNews.com raised Installed Building Products from a "hold" rating to a "buy" rating in a research report on Monday. JPMorgan Chase & Co. cut their price objective on Installed Building Products from $101.00 to $88.00 and set a "neutral" rating on the stock in a report on Wednesday, April 20th. Finally, The Goldman Sachs Group decreased their target price 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 equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $106.40.
Insider Buying and Selling
In other Installed Building Products news, Director Michael H. Thomas sold 2,491 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 8,669 shares of the company's stock, valued at $876,002.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.90% of the stock is currently owned by insiders.