Installed Building Products (NYSE:IBP) Stock Price Down 6%

Installed Building Products, Inc. (NYSE:IBP) traded down 6% during mid-day trading on Thursday . The company traded as low as $197.93 and last traded at $198.16. 136,888 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 278,484 shares. The stock had previously closed at $210.83.

Wall Street Analysts Forecast Growth

IBP has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price objective on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Evercore ISI upped their price objective on Installed Building Products from $226.00 to $272.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 2nd. Benchmark upped their price objective on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, May 14th. DA Davidson initiated coverage on Installed Building Products in a research report on Tuesday, March 5th. They set a “buy” rating and a $275.00 price objective on the stock. Finally, Truist Financial upped their price objective on Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $229.30.

Installed Building Products Stock Down 0.6 %

The stock has a market cap of $5.63 billion, a PE ratio of 22.37 and a beta of 1.95. The firm has a fifty day moving average of $221.92 and a 200 day moving average of $214.28. The company has a quick ratio of 2.67, a current ratio of 3.18 and a debt-to-equity ratio of 1.25.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, May 9th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.08 by $0.29. Installed Building Products had a return on equity of 45.41% and a net margin of 8.90%. The firm had revenue of $692.90 million for the quarter, compared to analyst estimates of $676.60 million. On average, equities research analysts anticipate that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 30th. Shareholders of record on Saturday, June 15th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.40 annualized dividend and a yield of 0.71%. Installed Building Products’s dividend payout ratio is presently 15.84%.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, insider Jason R. Niswonger sold 6,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the completion of the transaction, the insider now owns 13,159 shares in the company, valued at $3,024,464.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jason R. Niswonger sold 6,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $229.84, for a total transaction of $1,379,040.00. Following the completion of the sale, the insider now owns 13,159 shares in the company, valued at $3,024,464.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Janet E. Jackson sold 2,122 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $211.65, for a total transaction of $449,121.30. Following the sale, the director now owns 7,046 shares of the company’s stock, valued at approximately $1,491,285.90. The disclosure for this sale can be found here. 16.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds have recently made changes to their positions in IBP. Swedbank AB acquired a new stake in shares of Installed Building Products during the first quarter worth about $96,248,000. Channing Capital Management LLC acquired a new stake in shares of Installed Building Products during the fourth quarter worth about $58,696,000. Norges Bank acquired a new stake in shares of Installed Building Products during the fourth quarter worth about $37,583,000. Price T Rowe Associates Inc. MD lifted its position in Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after purchasing an additional 183,696 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its position in Installed Building Products by 3,919.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock valued at $26,093,000 after purchasing an additional 139,172 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Company Profile

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.