Installed Building Products (NYSE:IBP) Issues Earnings Results

Installed Building Products (NYSE:IBP – Get Rating) posted its quarterly earnings data on Thursday. The construction company reported $2.48 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.54, Briefing.com reports. Installed Building Products had a net margin of 6.85% and a return on equity of 50.89%. The company had revenue of $676.70 million during the quarter, compared to the consensus estimate of $611.12 million. During the same quarter in the prior year, the company posted $1.59 EPS. The company’s quarterly revenue was up 38.6% compared to the same quarter last year.

Installed Building Products Stock Down 5.3 %

NYSE IBP traded down $5.58 during trading hours on Friday, reaching $98.94. 150,131 shares of the company traded hands, compared to its average volume of 159,480. The stock has a market capitalization of $2.90 billion, a PE ratio of 18.39 and a beta of 1.79. Installed Building Products has a 12 month low of $69.44 and a 12 month high of $141.43. The company has a 50 day moving average of $90.49 and a two-hundred day moving average of $92.93. The company has a current ratio of 2.25, a quick ratio of 2.08 and a debt-to-equity ratio of 2.08.

Installed Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Wednesday, September 14th. Installed Building Products’s dividend payout ratio (DPR) is 23.42%.

Wall Street Analyst Weigh In

Several brokerages recently commented on IBP. Truist Financial dropped their price target on shares of Installed Building Products from $135.00 to $100.00 in a research report on Friday, May 6th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. JPMorgan Chase & Co. lowered their price target on Installed Building Products from $101.00 to $88.00 and set a “neutral” rating for the company in a research report on Wednesday, April 20th. Zelman & Associates lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday. Finally, The Goldman Sachs Group dropped their target price on shares of Installed Building Products from $105.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and an average price target of $106.00.

Institutional Trading of Installed Building Products

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Installed Building Products by 16.9% during the 1st quarter. JPMorgan Chase & Co. now owns 20,337 shares of the construction company’s stock worth $1,718,000 after buying an additional 2,940 shares during the last quarter. Bank of Montreal Can lifted its position in Installed Building Products by 2.6% in the 1st quarter. Bank of Montreal Can now owns 8,295 shares of the construction company’s stock valued at $730,000 after purchasing an additional 209 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Installed Building Products by 51.7% during the 1st quarter. MetLife Investment Management LLC now owns 12,596 shares of the construction company’s stock valued at $1,064,000 after purchasing an additional 4,291 shares during the period. Rhumbline Advisers grew its position in Installed Building Products by 8.9% in the 1st quarter. Rhumbline Advisers now owns 58,380 shares of the construction company’s stock worth $4,933,000 after purchasing an additional 4,791 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Installed Building Products by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,232 shares of the construction company’s stock valued at $1,709,000 after acquiring an additional 2,494 shares in the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile

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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. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.