Installed Building Products, Inc. (NYSE:IBP) Sees Significant Decrease in Short Interest

Installed Building Products, Inc. (NYSE:IBPGet Rating) was the target of a large drop in short interest in the month of April. As of April 30th, there was short interest totalling 743,800 shares, a drop of 17.8% from the April 15th total of 904,500 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 256,200 shares, the days-to-cover ratio is currently 2.9 days.

Installed Building Products stock traded up $3.21 during mid-day trading on Tuesday, hitting $91.85. The stock had a trading volume of 8,231 shares, compared to its average volume of 261,310. The stock has a 50-day simple moving average of $87.60 and a two-hundred day simple moving average of $109.96. The company has a current ratio of 2.57, a quick ratio of 2.08 and a debt-to-equity ratio of 2.13. The stock has a market capitalization of $2.69 billion, a PE ratio of 20.20 and a beta of 1.77. Installed Building Products has a 12 month low of $75.95 and a 12 month high of $141.43.

Installed Building Products (NYSE:IBPGet Rating) last released its earnings results on Thursday, May 5th. The construction company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.42. Installed Building Products had a net margin of 6.38% and a return on equity of 45.84%. The company had revenue of $587.50 million for the quarter, compared to the consensus estimate of $541.59 million. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue was up 34.4% compared to the same quarter last year. Sell-side analysts expect that Installed Building Products will post 6.97 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be paid a $0.315 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $1.26 dividend on an annualized basis and a yield of 1.37%. Installed Building Products’s payout ratio is presently 27.57%.

In related news, Director Lawrence A. Hilsheimer purchased 513 shares of the stock in a transaction on Monday, February 28th. The shares were purchased at an average cost of $97.30 per share, for a total transaction of $49,914.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 17.90% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBP. Covestor Ltd acquired a new stake in shares of Installed Building Products in the 4th quarter valued at approximately $38,000. Public Employees Retirement System of Ohio increased its stake in Installed Building Products by 38.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 449 shares of the construction company’s stock valued at $63,000 after purchasing an additional 125 shares in the last quarter. KBC Group NV raised its holdings in Installed Building Products by 87.7% in the first quarter. KBC Group NV now owns 884 shares of the construction company’s stock worth $75,000 after purchasing an additional 413 shares during the period. Strs Ohio acquired a new stake in Installed Building Products during the 4th quarter worth $97,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Installed Building Products during the first quarter worth about $207,000. 98.94% of the stock is owned by hedge funds and other institutional investors.

IBP has been the topic of several research analyst reports. Truist Financial decreased their price objective on shares of Installed Building Products from $135.00 to $100.00 in a research note on Friday, May 6th. Zacks Investment Research raised Installed Building Products from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. JPMorgan Chase & Co. cut their price objective 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. Credit Suisse Group initiated coverage on Installed Building Products in a report on Tuesday, April 5th. They set a “neutral” rating and a $95.00 target price on the stock. Finally, BTIG Research cut their price target on Installed Building Products from $124.00 to $108.00 in a report on Friday, May 6th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.50.

Installed Building Products Company Profile (Get Rating)

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.

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