Installed Building Products (NYSE:IBP) Sets New 12-Month Low – Should You Sell?

Installed Building Products, Inc. (NYSE:IBP)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $178.02 and last traded at $177.7330, with a volume of 103,037 shares changing hands. The stock had previously closed at $188.26.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Evercore set a $222.00 target price on shares of Installed Building Products in a research report on Friday, September 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. DA Davidson increased their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Wall Street Zen cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, September 27th. Finally, Royal Bank Of Canada reduced their price objective on shares of Installed Building Products from $228.00 to $208.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 7th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $234.50.

Installed Building Products Stock Up 4.2%

The firm’s 50-day moving average price is $216.89 and its 200 day moving average price is $230.32. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 8.06 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.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. During the same period last year, the company posted $2.95 EPS. The company’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts expect that Installed Building Products, Inc. will post 9.86 EPS for the current year.

Installed Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, September 15th. Installed Building Products’s dividend payout ratio is 16.79%.

Insiders Place Their Bets

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the completion of the transaction, the director owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 13.80% of the company’s stock.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Installed Building Products during the 2nd quarter worth about $1,055,034,000. Reinhart Partners LLC. acquired a new position in Installed Building Products in the 3rd quarter valued at about $87,114,000. Bank of America Corp DE lifted its holdings in Installed Building Products by 51.8% in the 1st quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock valued at $79,208,000 after purchasing an additional 101,967 shares in the last quarter. Bamco Inc. NY purchased a new position in Installed Building Products in the 2nd quarter valued at about $45,580,000. Finally, Paralel Advisors LLC purchased a new position in Installed Building Products in the 2nd quarter valued at about $37,924,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.