Installed Building Products, Inc. (NYSE:IBP) Short Interest Up 5.6% in September

Installed Building Products, Inc. (NYSE:IBP) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,710,000 shares, a growth of 5.6% from the August 31st total of 1,620,000 shares. Currently, 7.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 313,500 shares, the short-interest ratio is presently 5.5 days.

Installed Building Products Stock Up 0.3 %

IBP traded up $0.68 on Tuesday, hitting $246.95. 136,322 shares of the company were exchanged, compared to its average volume of 293,492. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 27.39 and a beta of 1.93. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $227.37 and a two-hundred day moving average price of $227.34. Installed Building Products has a twelve month low of $106.01 and a twelve month high of $281.04.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The company had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. On average, equities analysts predict that Installed Building Products will post 11.06 earnings per share for the current year.

Installed Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Sunday, September 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, September 13th. Installed Building Products’s payout ratio is currently 15.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IBP shares. Jefferies Financial Group boosted their target price on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group upped their price objective on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Evercore ISI increased their price target on Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a research note on Monday, July 15th. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Finally, Truist Financial raised their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $255.20.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBP. Allspring Global Investments Holdings LLC purchased a new stake in Installed Building Products during the 1st quarter valued at approximately $29,000. Quarry LP increased its position in Installed Building Products by 37.5% during the 4th quarter. Quarry LP now owns 209 shares of the construction company’s stock worth $38,000 after purchasing an additional 57 shares during the period. C M Bidwell & Associates Ltd. increased its position in Installed Building Products by 1,393.8% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 239 shares of the construction company’s stock worth $44,000 after purchasing an additional 223 shares during the period. CWM LLC increased its position in Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its position in Installed Building Products by 50.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock worth $68,000 after purchasing an additional 88 shares during the period. 99.61% of the stock is owned by hedge funds and other institutional investors.

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.