Installed Building Products Inc (NYSE:IBP) shares shot up 6.2% on Wednesday . The company traded as high as $58.64 and last traded at $58.53, 151,300 shares changed hands during trading. A decline of 21% from the average session volume of 190,374 shares. The stock had previously closed at $55.10.
A number of equities research analysts have recently issued reports on IBP shares. Zacks Investment Research downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. SunTrust Banks upped their price objective on shares of Installed Building Products from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Nomura increased their price objective on shares of Installed Building Products from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $47.97.
The company has a 50 day moving average of $55.34 and a 200 day moving average of $52.56. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.85 and a current ratio of 2.16. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.16 and a beta of 1.14.
In other Installed Building Products news, Director Vikas Verma sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $57.50, for a total transaction of $2,300,000.00. Following the sale, the director now owns 191,935 shares of the company’s stock, valued at $11,036,262.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William Jeffrey Hire sold 2,000 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $59.08, for a total transaction of $118,160.00. Following the completion of the transaction, the insider now directly owns 34,516 shares in the company, valued at $2,039,205.28. The disclosure for this sale can be found here. Insiders sold a total of 82,457 shares of company stock worth $4,733,909 over the last 90 days. Company insiders own 25.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its holdings in shares of Installed Building Products by 527.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,588 shares of the construction company’s stock valued at $94,000 after purchasing an additional 1,335 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in Installed Building Products in the 1st quarter valued at $151,000. NumerixS Investment Technologies Inc raised its position in Installed Building Products by 50.0% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the construction company’s stock valued at $174,000 after purchasing an additional 1,200 shares during the last quarter. Bank of Montreal Can boosted its stake in Installed Building Products by 178.7% during the 2nd quarter. Bank of Montreal Can now owns 2,954 shares of the construction company’s stock worth $175,000 after purchasing an additional 1,894 shares during the period. Finally, LPL Financial LLC acquired a new stake in Installed Building Products during the 2nd quarter worth $209,000. 68.76% of the stock is owned by hedge funds and other institutional investors.
About Installed Building Products (NYSE:IBP)
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 continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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