Installed Building Products (IBP) Hits New 12-Month Low at $32.20

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Installed Building Products Inc (NYSE:IBP) reached a new 52-week low on Thursday . The stock traded as low as $32.20 and last traded at $32.05, with a volume of 8808 shares. The stock had previously closed at $33.33.

Several research firms have recently weighed in on IBP. Evercore ISI began coverage on shares of Installed Building Products in a research report on Thursday, June 28th. They issued an “in-line” rating and a $65.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Installed Building Products to $71.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 27th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. ValuEngine raised shares of Installed Building Products from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, Stephens reissued a “buy” rating and issued a $65.00 target price on shares of Installed Building Products in a research report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.30.

The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.50 and a current ratio of 2.80. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 0.59 and a beta of 0.78.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 2nd. The construction company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Installed Building Products had a net margin of 3.70% and a return on equity of 24.57%. The business had revenue of $332.60 million for the quarter, compared to the consensus estimate of $334.24 million. During the same period in the prior year, the company earned $0.59 EPS. Installed Building Products’s quarterly revenue was up 17.9% on a year-over-year basis. Sell-side analysts predict that Installed Building Products Inc will post 2.65 earnings per share for the current year.

In related news, CEO Jeffrey W. Edwards sold 92,649 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $48.46, for a total transaction of $4,489,770.54. Following the completion of the sale, the chief executive officer now owns 300,159 shares of the company’s stock, valued at approximately $14,545,705.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey W. Edwards sold 107,039 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $52.30, for a total transaction of $5,598,139.70. Following the sale, the chief executive officer now directly owns 351,071 shares of the company’s stock, valued at approximately $18,361,013.30. The disclosure for this sale can be found here. 31.10% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in IBP. NumerixS Investment Technologies Inc bought a new position in Installed Building Products in the 2nd quarter worth about $146,000. Tower Research Capital LLC TRC bought a new position in Installed Building Products in the 2nd quarter worth about $196,000. Amalgamated Bank bought a new position in Installed Building Products in the 2nd quarter worth about $202,000. New England Research & Management Inc. bought a new position in Installed Building Products in the 2nd quarter worth about $218,000. Finally, Xact Kapitalforvaltning AB bought a new position in Installed Building Products in the 2nd quarter worth about $219,000. 70.02% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile (NYSE:IBP)

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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