Installed Building Products (NYSE:IBP) Announces Earnings Results

Installed Building Products (NYSE:IBP) posted its quarterly earnings results on Thursday. The construction company reported $2.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.13), reports. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The business had revenue of $760.60 million for the quarter, compared to analysts’ expectations of $757.91 million.

Installed Building Products Price Performance

Shares of IBP stock traded down $7.01 during mid-day trading on Friday, reaching $210.26. The stock had a trading volume of 577,004 shares, compared to its average volume of 294,807. Installed Building Products has a 12-month low of $121.83 and a 12-month high of $281.04. The company has a market cap of $5.94 billion, a P/E ratio of 23.46 and a beta of 1.95. The business has a 50-day simple moving average of $231.09 and a 200 day simple moving average of $225.32. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Friday, December 13th. Installed Building Products’s dividend payout ratio is currently 15.63%.

Institutional Trading of Installed Building Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. Intech Investment Management LLC boosted its stake in Installed Building Products by 496.2% in the 3rd quarter. Intech Investment Management LLC now owns 16,850 shares of the construction company’s stock worth $4,150,000 after buying an additional 14,024 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its stake in Installed Building Products by 1.6% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 65,299 shares of the construction company’s stock worth $16,081,000 after buying an additional 1,000 shares during the last quarter. Segall Bryant & Hamill LLC boosted its stake in Installed Building Products by 149.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 81,075 shares of the construction company’s stock worth $19,966,000 after buying an additional 48,559 shares during the last quarter. Finally, Premier Fund Managers Ltd boosted its stake in Installed Building Products by 41.6% in the 3rd quarter. Premier Fund Managers Ltd now owns 80,108 shares of the construction company’s stock worth $20,051,000 after buying an additional 23,532 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on IBP. DA Davidson dropped their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday. Truist Financial raised their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Finally, Stephens reaffirmed an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $252.30.

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.