Installed Building Products, Inc. (NYSE:IBP) Stock Short Interest Falls 39.8%

Installed Building Products, Inc. (NYSE:IBP) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 1,517,168 shares, a decline of 39.8% from the September 15th total of 2,520,270 shares. Based on an average daily volume of 438,294 shares, the days-to-cover ratio is presently 3.5 days. Approximately 6.6% of the shares of the stock are sold short.

Installed Building Products Stock Down 1.1%

Shares of NYSE:IBP opened at $185.91 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. Installed Building Products has a 12 month low of $176.15 and a 12 month high of $349.00. The company has a 50-day moving average price of $215.71 and a 200 day moving average price of $230.01. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 20.01, a PEG ratio of 8.30 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%. The company had revenue of $777.80 million during the quarter, compared to analyst estimates of $743.33 million. During the same quarter last year, the business posted $2.95 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts predict that Installed Building Products will post 9.86 earnings per share for the current year.

Installed Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Installed Building Products’s dividend payout ratio (DPR) is presently 16.79%.

Insider Activity

In related news, Director Janet Jackson sold 1,086 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the sale, the director directly owned 5,142 shares in the company, valued at approximately $1,218,962.52. The trade was a 17.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Institutional investors and hedge funds have recently modified their holdings of the stock. USA Financial Formulas purchased a new stake in Installed Building Products during the 3rd quarter valued at $37,000. Goelzer Investment Management Inc. bought a new stake in Installed Building Products in the third quarter worth $245,000. Curated Wealth Partners LLC purchased a new position in Installed Building Products during the third quarter worth $273,000. Summit Financial Strategies Inc. boosted its stake in Installed Building Products by 33.2% during the third quarter. Summit Financial Strategies Inc. now owns 6,914 shares of the construction company’s stock worth $1,327,000 after buying an additional 1,725 shares during the period. Finally, Reinhart Partners LLC. purchased a new position in Installed Building Products during the third quarter worth $87,114,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on IBP. DA Davidson raised their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Wells Fargo & Company reduced their price objective on Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday. Royal Bank Of Canada lowered their target price on Installed Building Products from $228.00 to $208.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Finally, Stifel Nicolaus assumed coverage on shares of Installed Building Products in a report on Monday, September 14th. They issued a “buy” rating and a $240.00 target price for the company. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $230.75.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.