Installed Building Products (NYSE:IBP) Posts Quarterly Earnings Results, Beats Estimates By $0.49 EPS

Installed Building Products (NYSE:IBP) released its earnings results on Wednesday. The construction company reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.49, Briefing.com reports. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The company had revenue of $778.20 million during the quarter, compared to analyst estimates of $751.98 million. During the same quarter in the previous year, the company posted $2.85 EPS. Installed Building Products’s revenue for the quarter was up 2.3% on a year-over-year basis.

Installed Building Products Price Performance

Shares of NYSE IBP traded up $5.40 during mid-day trading on Friday, reaching $257.32. The company’s stock had a trading volume of 340,666 shares, compared to its average volume of 431,738. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. Installed Building Products has a 52 week low of $150.83 and a 52 week high of $280.00. The stock has a fifty day moving average of $256.12 and a two-hundred day moving average of $215.48. The firm has a market capitalization of $7.03 billion, a PE ratio of 28.62 and a beta of 1.81.

Installed Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, December 15th. Installed Building Products’s payout ratio is presently 16.46%.

Insiders Place Their Bets

In other Installed Building Products news, Director Janet E. Jackson sold 1,469 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total value of $390,754.00. Following the completion of the transaction, the director directly owned 6,873 shares in the company, valued at $1,828,218. This represents a 17.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Brad A. Wheeler sold 3,186 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the sale, the chief operating officer directly owned 8,736 shares of the company’s stock, valued at approximately $2,404,933.44. This trade represents a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 11,655 shares of company stock valued at $3,123,578 in the last 90 days. 16.20% of the stock is currently owned by company insiders.

Institutional Trading of Installed Building Products

Several hedge funds have recently bought and sold shares of the stock. State of Wyoming grew its holdings in Installed Building Products by 5.1% during the 2nd quarter. State of Wyoming now owns 1,101 shares of the construction company’s stock valued at $199,000 after purchasing an additional 53 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Installed Building Products by 14.0% during the second quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock valued at $78,000 after buying an additional 54 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Installed Building Products by 5.9% in the second quarter. Hsbc Holdings PLC now owns 1,643 shares of the construction company’s stock worth $296,000 after buying an additional 92 shares during the period. Vident Advisory LLC lifted its stake in shares of Installed Building Products by 7.8% during the 2nd quarter. Vident Advisory LLC now owns 1,329 shares of the construction company’s stock worth $240,000 after acquiring an additional 96 shares during the last quarter. Finally, Cerity Partners LLC boosted its holdings in Installed Building Products by 5.3% during the 2nd quarter. Cerity Partners LLC now owns 5,380 shares of the construction company’s stock valued at $970,000 after acquiring an additional 269 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on IBP shares. Royal Bank Of Canada increased their price target on shares of Installed Building Products from $184.00 to $203.00 and gave the stock an “underperform” rating in a research note on Thursday. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, November 2nd. Jefferies Financial Group boosted their target price on Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Installed Building Products in a report on Wednesday, October 8th. Finally, Vertical Research assumed coverage on shares of Installed Building Products in a research note on Monday, October 20th. They set a “sell” rating on the stock. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $224.45.

About Installed Building Products

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.