Installed Building Products (NYSE:IBP) Shares Gap Down to $270.35

Installed Building Products, Inc. (NYSE:IBP)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $270.35, but opened at $252.99. Installed Building Products shares last traded at $261.55, with a volume of 52,099 shares.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. The Goldman Sachs Group raised their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark upped their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Jefferies Financial Group lifted their target price on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, July 17th. Evercore ISI lifted their price objective on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. 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 research note on Friday. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $248.00.

Installed Building Products Trading Down 1.8 %

The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 26.21 and a beta of 1.93. The firm’s 50-day moving average is $220.70 and its 200-day moving average is $224.59. The company has a current ratio of 3.08, a quick ratio of 2.67 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, May 9th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.29. The business had revenue of $692.90 million for the quarter, compared to analysts’ expectations of $676.60 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. As a group, sell-side analysts anticipate that Installed Building Products, Inc. will post 11.2 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Sunday, September 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Friday, September 13th. Installed Building Products’s payout ratio is currently 15.84%.

Insider Transactions at Installed Building Products

In related news, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $211.65, for a total transaction of $449,121.30. Following the transaction, the director now directly owns 7,046 shares in the company, valued at $1,491,285.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Installed Building Products news, Director Janet E. Jackson sold 2,122 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $211.65, for a total value of $449,121.30. Following the transaction, the director now owns 7,046 shares of the company’s stock, valued at $1,491,285.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jason R. Niswonger sold 6,000 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $229.84, for a total value of $1,379,040.00. Following the sale, the insider now directly owns 13,159 shares of the company’s stock, valued at $3,024,464.56. The disclosure for this sale can be found here. Company insiders own 16.50% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after acquiring an additional 18,890 shares during the period. Dimensional Fund Advisors LP grew its stake in Installed Building Products by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 771,089 shares of the construction company’s stock valued at $140,974,000 after buying an additional 5,359 shares in the last quarter. Giverny Capital Inc. raised its holdings in Installed Building Products by 5.2% during the 4th quarter. Giverny Capital Inc. now owns 455,426 shares of the construction company’s stock valued at $83,261,000 after acquiring an additional 22,528 shares during the period. Swedbank AB boosted its holdings in shares of Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after acquiring an additional 43,000 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of Installed Building Products by 4.2% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 377,741 shares of the construction company’s stock valued at $69,058,000 after purchasing an additional 15,220 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

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.