Installed Building Products (NYSE:IBP) Shares Break Above Fifty Day Moving Average – Here’s Why

Installed Building Products, Inc. (NYSE:IBP) passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $207.51 and traded as high as $212.54. Installed Building Products shares last traded at $212.1550, with a volume of 382,632 shares.

Wall Street Analysts Forecast Growth

IBP has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price target on Installed Building Products from $297.00 to $257.00 and set a “buy” rating for the company in a research note on Monday, October 12th. Wells Fargo & Company dropped their price objective on Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Zacks Research lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Finally, Evercore set a $222.00 price objective on Installed Building Products in a report on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $229.08.

Installed Building Products Trading Up 0.5%

The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The stock has a 50-day moving average price of $206.89 and a two-hundred day moving average price of $247.54. The stock has a market cap of $5.67 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 8.43 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The firm had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. During the same quarter in the previous year, the business earned $2.95 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Installed Building Products, Inc. will post 9.75 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 15th. Installed Building Products’s payout ratio is presently 16.79%.

Insider Activity

In related news, Director Janet Jackson sold 1,086 shares of the firm’s stock in a transaction dated 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 sale, the director directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Installed Building Products

Several large investors have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in Installed Building Products during the 1st quarter valued at about $30,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Installed Building Products during the second quarter valued at approximately $31,000. Parallel Advisors LLC boosted its position in shares of Installed Building Products by 446.7% during the first quarter. Parallel Advisors LLC now owns 164 shares of the construction company’s stock worth $44,000 after buying an additional 134 shares during the period. Covestor Ltd boosted its position in shares of Installed Building Products by 47.6% during the third quarter. Covestor Ltd now owns 186 shares of the construction company’s stock worth $36,000 after buying an additional 60 shares during the period. Finally, USA Financial Formulas bought a new position in Installed Building Products in the 3rd quarter worth approximately $37,000. 99.61% of the stock is owned by institutional investors and hedge funds.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-services company that provides installation services for insulation and other construction products. The company serves homebuilders, contractors, remodelers and other customers through a network of specialized installation businesses.

Its primary offerings include fiberglass, spray foam and blown-in insulation, as well as the installation of garage doors, gutters, fireplaces, shower enclosures, closet systems and other complementary building products.