Installed Building Products (NYSE:IBP) Share Price Breaks Above Fifty Day Moving Average – What’s Next?

Installed Building Products, Inc. (NYSE:IBP) shares passed above its fifty day moving average during trading on Thursday. The stock has a fifty 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 trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Installed Building Products from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Melius Research started coverage on shares of Installed Building Products in a research report on Tuesday, October 6th. They set a “hold” rating and a $217.00 price objective for the company. Evercore set a $222.00 target price on shares of Installed Building Products in a research note on Friday, September 25th. Finally, The Goldman Sachs Group decreased their target price on shares of Installed Building Products from $297.00 to $257.00 and set a “buy” rating on the stock in a report on Monday, October 12th. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $229.08.

Installed Building Products Stock Up 6.1%

The business’s 50 day moving average price is $207.51 and its 200-day moving average price is $247.99. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The firm has a market capitalization of $5.64 billion, a PE ratio of 22.84, a P/E/G ratio of 7.94 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last posted 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. The firm had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.95 EPS. As a group, equities research analysts forecast that Installed Building Products, Inc. will post 9.75 earnings per share for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is currently 16.79%.

Insider Buying and Selling at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value 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. The trade was a 17.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.80% of the company’s stock.

Institutional Trading of Installed Building Products

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Park Avenue Securities LLC grew its holdings in shares of Installed Building Products by 3.6% in the third quarter. Park Avenue Securities LLC now owns 3,283 shares of the construction company’s stock valued at $630,000 after purchasing an additional 113 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in Installed Building Products by 5.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,101 shares of the construction company’s stock worth $211,000 after buying an additional 52 shares in the last quarter. Leeward Investments LLC MA boosted its position in Installed Building Products by 1.9% in the 3rd quarter. Leeward Investments LLC MA now owns 83,162 shares of the construction company’s stock valued at $15,957,000 after buying an additional 1,578 shares during the period. Evergreen Capital Management LLC boosted its position in Installed Building Products by 90.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 1,992 shares of the construction company’s stock valued at $382,000 after buying an additional 945 shares during the period. Finally, Fifth Third Wealth Advisors LLC grew its stake in shares of Installed Building Products by 10.1% in the third quarter. Fifth Third Wealth Advisors LLC now owns 1,580 shares of the construction company’s stock worth $303,000 after acquiring an additional 145 shares in the last quarter. 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-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.