Installed Building Products, Inc. (NYSE:IBP) Stock Short Interest Report for September

Installed Building Products, Inc. (NYSE:IBP) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 1,517,168 shares, a drop of 39.8% from the September 15th total of 2,520,270 shares. Approximately 6.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 438,294 shares, the days-to-cover ratio is presently 3.5 days.

Installed Building Products Stock Down 1.1%

NYSE IBP traded down $2.03 during trading on Friday, hitting $185.91. The company’s stock had a trading volume of 472,040 shares, compared to its average volume of 441,339. Installed Building Products has a fifty-two week low of $176.15 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The company has a market cap of $4.94 billion, a PE ratio of 20.01, a P/E/G ratio of 8.40 and a beta of 1.71. The business’s 50 day simple moving average is $215.71 and its 200-day simple moving average is $230.01.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. During the same period in the previous year, the company earned $2.95 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Installed Building Products will post 9.86 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, September 15th. Installed Building Products’s payout ratio is presently 16.79%.

Insiders Place Their Bets

In other news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director directly owned 5,142 shares in the company, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. USA Financial Formulas purchased a new stake in Installed Building Products in the third quarter valued at approximately $37,000. Goelzer Investment Management Inc. acquired a new position in shares of Installed Building Products in the third quarter valued at approximately $245,000. Curated Wealth Partners LLC purchased a new stake in shares of Installed Building Products during the third quarter worth $273,000. Summit Financial Strategies Inc. boosted its holdings in Installed Building Products by 33.2% in the third quarter. Summit Financial Strategies Inc. now owns 6,914 shares of the construction company’s stock valued at $1,327,000 after purchasing an additional 1,725 shares during the period. Finally, Reinhart Partners LLC. purchased a new stake in Installed Building Products during the 3rd quarter worth about $87,114,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

IBP has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on shares of Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday. Evercore set a $222.00 price objective on shares of Installed Building Products in a report on Friday, September 25th. Melius Research began coverage on shares of Installed Building Products in a research note on Tuesday, October 6th. They issued a “hold” rating and a $217.00 target price on the stock. Truist Financial decreased their price target on shares of Installed Building Products from $200.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday, October 8th. Finally, The Goldman Sachs Group dropped their price target on Installed Building Products from $297.00 to $257.00 and set a “buy” rating on the stock in a research report on Monday, October 12th. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and a consensus target price of $230.75.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.