Installed Building Products (NYSE:IBP) Shares Down 6.9% After Analyst Downgrade

Shares of Installed Building Products, Inc. (NYSE:IBP) dropped 6.9% during mid-day trading on Monday after DA Davidson lowered their price target on the stock from $270.00 to $242.00. DA Davidson currently has a neutral rating on the stock. Installed Building Products traded as low as $204.74 and last traded at $204.9130. Approximately 240,170 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 356,920 shares. The stock had previously closed at $219.99.

Several other equities analysts have also recently issued reports on IBP. Weiss Ratings cut Installed Building Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. The Goldman Sachs Group decreased their price objective on Installed Building Products from $331.00 to $285.00 and set a “buy” rating for the company in a report on Friday. Royal Bank Of Canada raised Installed Building Products from an “underperform” rating to a “sector perform” rating and decreased their price objective for the company from $255.00 to $228.00 in a report on Friday. Finally, Wells Fargo & Company decreased their price objective on Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating for the company in a report on Friday. One equities research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Installed Building Products has an average rating of “Hold” and a consensus price target of $251.83.

Insider Transactions at Installed Building Products

In related news, Director Janet E. Jackson sold 1,410 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the transaction, the director owned 5,373 shares of the company’s stock, valued at approximately $1,575,954.63. This represents a 20.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total value of $125,624,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,727,819 shares of the company’s stock, valued at $542,638,835.14. The trade was a 18.80% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its holdings in Installed Building Products by 26.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,551,161 shares of the construction company’s stock worth $402,356,000 after purchasing an additional 328,725 shares during the period. Giverny Capital Inc. increased its stake in Installed Building Products by 0.9% during the 4th quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock worth $134,685,000 after buying an additional 4,500 shares in the last quarter. First Trust Advisors LP increased its stake in Installed Building Products by 0.3% during the 4th quarter. First Trust Advisors LP now owns 400,748 shares of the construction company’s stock worth $103,950,000 after buying an additional 1,238 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Installed Building Products by 52.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock worth $92,138,000 after buying an additional 122,561 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Installed Building Products by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 350,996 shares of the construction company’s stock worth $91,045,000 after buying an additional 5,384 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Trading Down 6.8%

The company has a 50 day simple moving average of $287.19 and a 200 day simple moving average of $283.19. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.76 and a current ratio of 3.35. The company has a market capitalization of $5.52 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 3.05 and a beta of 1.84.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, May 7th. The construction company reported $1.79 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.17). Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.The firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $668.92 million. During the same quarter last year, the firm posted $2.08 earnings per share. Installed Building Products’s quarterly revenue was down 3.5% on a year-over-year basis. Analysts anticipate that Installed Building Products, Inc. will post 10.81 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a $0.39 dividend. The ex-dividend date is Monday, June 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.8%. Installed Building Products’s dividend payout ratio is 16.63%.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.