Installed Building Products (NYSE:IBP) Hits New 52-Week High at $261.14

Installed Building Products, Inc. (NYSE:IBP) shares reached a new 52-week high on Thursday . The stock traded as high as $261.14 and last traded at $261.14, with a volume of 68818 shares traded. The stock had previously closed at $255.38.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Evercore ISI boosted their price objective on Installed Building Products from $165.00 to $226.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lowered shares of Installed Building Products from an “overweight” rating to a “neutral” rating and increased their target price for the company from $199.00 to $242.00 in a research report on Wednesday, February 28th. Loop Capital upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. DA Davidson started coverage on shares of Installed Building Products in a report on Tuesday, March 5th. They issued a “buy” rating and a $275.00 price target for the company. Finally, Truist Financial lifted their price target on shares of Installed Building Products from $200.00 to $235.00 and gave the stock a “hold” rating in a research report on Friday, February 23rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Installed Building Products has an average rating of “Moderate Buy” and an average price target of $203.80.

Installed Building Products Trading Up 1.2 %

The company has a fifty day moving average of $220.61 and a 200-day moving average of $171.15. The firm has a market capitalization of $7.33 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 1.56 and a beta of 1.89. The company has a debt-to-equity ratio of 1.26, a current ratio of 3.09 and a quick ratio of 2.62.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, February 22nd. The construction company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.03. Installed Building Products had a net margin of 8.77% and a return on equity of 47.18%. The business had revenue of $720.70 million for the quarter, compared to analyst estimates of $688.59 million. During the same period last year, the business posted $2.34 EPS. Installed Building Products’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Installed Building Products, Inc. will post 11.25 earnings per share for the current fiscal year.

Installed Building Products Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 31st. Shareholders of record on Friday, March 15th will be issued a $1.60 dividend. This is a boost from Installed Building Products’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $6.40 annualized dividend and a yield of 2.48%. Installed Building Products’s dividend payout ratio is 16.26%.

Insider Activity at Installed Building Products

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of Installed Building Products stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $233.50, for a total transaction of $116,750.00. Following the sale, the chief accounting officer now directly owns 7,176 shares of the company’s stock, valued at $1,675,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $233.50, for a total value of $116,750.00. Following the transaction, the chief accounting officer now owns 7,176 shares of the company’s stock, valued at $1,675,596. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Brad A. Wheeler sold 1,119 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $244.22, for a total value of $273,282.18. Following the completion of the transaction, the chief operating officer now owns 6,679 shares in the company, valued at $1,631,145.38. The disclosure for this sale can be found here. Insiders have sold a total of 6,619 shares of company stock valued at $1,606,732 over the last quarter. 17.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ziegler Capital Management LLC acquired a new stake in Installed Building Products in the 4th quarter worth about $3,618,000. Giverny Capital Inc. increased its holdings in shares of Installed Building Products by 1.1% during the third quarter. Giverny Capital Inc. now owns 432,898 shares of the construction company’s stock worth $54,065,000 after buying an additional 4,542 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Installed Building Products during the third quarter valued at about $18,661,000. Jupiter Asset Management Ltd. bought a new stake in shares of Installed Building Products in the third quarter worth $378,000. Finally, Tudor Investment Corp Et Al increased its position in shares of Installed Building Products by 524.2% during the third quarter. Tudor Investment Corp Et Al now owns 51,037 shares of the construction company’s stock worth $6,374,000 after buying an additional 42,861 shares during the period. Institutional investors own 99.61% of the company’s stock.

About Installed Building Products

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.