Installed Building Products, Inc. (NYSE:IBP) Short Interest Up 5.6% in September

Installed Building Products, Inc. (NYSE:IBP) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 1,710,000 shares, an increase of 5.6% from the August 31st total of 1,620,000 shares. Approximately 7.2% of the shares of the stock are sold short. Based on an average daily volume of 313,500 shares, the days-to-cover ratio is presently 5.5 days.

Installed Building Products Stock Performance

Shares of NYSE IBP traded up $0.68 during midday trading on Tuesday, reaching $246.95. The company’s stock had a trading volume of 136,322 shares, compared to its average volume of 293,492. Installed Building Products has a 12-month low of $106.01 and a 12-month high of $281.04. The firm has a 50 day moving average price of $227.37 and a 200-day moving average price of $227.34. The stock has a market capitalization of $7.02 billion, a P/E ratio of 27.39 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The business had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. As a group, equities analysts predict that Installed Building Products will post 11.06 earnings per share for the current year.

Installed Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Sunday, September 15th were issued a dividend of $0.35 per share. The ex-dividend date was Friday, September 13th. This represents a $1.40 dividend on an annualized basis and a yield of 0.57%. Installed Building Products’s payout ratio is 15.84%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on IBP shares. The Goldman Sachs Group raised their target price on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Truist Financial lifted their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Stephens reaffirmed an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. Royal Bank of Canada lifted their price target on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Finally, StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Friday, September 6th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $255.20.

Institutional Investors Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently bought and sold shares of the business. Diversified Trust Co grew its position in Installed Building Products by 2.3% in the second quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock worth $416,000 after acquiring an additional 46 shares in the last quarter. Quarry LP lifted its holdings in shares of Installed Building Products by 37.5% during the fourth quarter. Quarry LP now owns 209 shares of the construction company’s stock valued at $38,000 after purchasing an additional 57 shares during the last quarter. CWM LLC raised its holdings in Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after acquiring an additional 62 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in Installed Building Products by 2.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock worth $523,000 after acquiring an additional 63 shares during the last quarter. Finally, Xponance Inc. grew its position in Installed Building Products by 5.3% in the 2nd quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock worth $312,000 after purchasing an additional 76 shares during the period. Institutional investors own 99.61% of the company’s stock.

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.