Short Interest in Installed Building Products Inc (IBP) Grows By 51.3%

Installed Building Products Inc (NYSE:IBP) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 990,230 shares, a growth of 51.3% from the November 15th total of 654,601 shares. Based on an average daily volume of 172,077 shares, the short-interest ratio is currently 5.8 days. Currently, 4.5% of the shares of the stock are short sold.

A number of analysts have recently commented on the stock. KeyCorp reissued a “hold” rating on shares of Installed Building Products in a research note on Tuesday, September 26th. Credit Suisse Group set a $73.00 price objective on shares of Installed Building Products and gave the company an “outperform” rating in a research note on Tuesday, October 17th. Royal Bank of Canada reaffirmed a “buy” rating and set a $69.00 price objective on shares of Installed Building Products in a research note on Monday, October 16th. Zacks Investment Research cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Monday, October 23rd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $65.00 price objective on shares of Installed Building Products in a research note on Friday, November 3rd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $67.43.

Shares of Installed Building Products (NYSE IBP) traded down $0.25 during midday trading on Friday, reaching $73.00. 177,558 shares of the company traded hands, compared to its average volume of 137,284. Installed Building Products has a one year low of $40.00 and a one year high of $79.40. The stock has a market cap of $2,333.93, a PE ratio of 55.73 and a beta of 0.87. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.93 and a current ratio of 2.22.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Friday, November 3rd. The construction company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The firm had revenue of $295.20 million during the quarter, compared to analysts’ expectations of $292.51 million. During the same period last year, the company earned $0.38 EPS. The business’s quarterly revenue was up 31.0% on a year-over-year basis. research analysts anticipate that Installed Building Products will post 1.46 earnings per share for the current fiscal year.

In other news, CEO Jeffrey W. Edwards sold 200,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $74.25, for a total transaction of $14,850,000.00. Following the completion of the sale, the chief executive officer now owns 504,800 shares of the company’s stock, valued at $37,481,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Michael Nixon sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $73.57, for a total transaction of $3,678,500.00. The disclosure for this sale can be found here. 32.90% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Alps Advisors Inc. grew its stake in shares of Installed Building Products by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,664 shares of the construction company’s stock valued at $512,000 after buying an additional 25 shares during the period. Pinebridge Investments L.P. grew its stake in shares of Installed Building Products by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock valued at $140,000 after buying an additional 34 shares during the period. Arizona State Retirement System grew its stake in shares of Installed Building Products by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 10,500 shares of the construction company’s stock valued at $556,000 after buying an additional 100 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of Installed Building Products by 6.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,421 shares of the construction company’s stock valued at $128,000 after buying an additional 155 shares during the period. Finally, Texas Permanent School Fund grew its stake in shares of Installed Building Products by 1.1% in the 2nd quarter. Texas Permanent School Fund now owns 14,653 shares of the construction company’s stock valued at $776,000 after buying an additional 164 shares during the period. 65.87% of the stock is owned by institutional investors and hedge funds.

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Installed Building Products Company Profile

Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 continental states and the District of Columbia. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, which provides cross-selling opportunities to supplement the insulation installation business.

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