Installed Building Products Inc (NYSE:IBP) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 713,400 shares, a drop of 6.1% from the September 30th total of 760,100 shares. Based on an average trading volume of 239,300 shares, the short-interest ratio is currently 3.0 days. Currently, 3.3% of the shares of the company are sold short.
A number of equities analysts recently commented on IBP shares. ValuEngine raised shares of Installed Building Products from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Nomura raised their price objective on shares of Installed Building Products from $61.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Zacks Investment Research raised shares of Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $81.00 price objective for the company in a research note on Thursday, November 7th. Stephens raised their price objective on shares of Installed Building Products from $61.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, SunTrust Banks raised their price objective on shares of Installed Building Products to $71.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $58.18.
In other Installed Building Products news, COO Jay P. Elliott sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.83, for a total value of $1,416,600.00. Following the transaction, the chief operating officer now owns 23,529 shares of the company’s stock, valued at $1,666,559.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William Jeffrey Hire sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $59.08, for a total transaction of $118,160.00. Following the completion of the transaction, the insider now directly owns 34,516 shares in the company, valued at approximately $2,039,205.28. The disclosure for this sale can be found here. Insiders sold 62,000 shares of company stock worth $4,084,760 in the last three months. 25.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Installed Building Products in the 3rd quarter worth about $42,000. Tower Research Capital LLC TRC increased its position in shares of Installed Building Products by 527.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,588 shares of the construction company’s stock valued at $94,000 after buying an additional 1,335 shares during the period. SG Americas Securities LLC bought a new stake in shares of Installed Building Products during the third quarter valued at about $121,000. Bank of Montreal Can increased its position in shares of Installed Building Products by 178.7% during the second quarter. Bank of Montreal Can now owns 2,954 shares of the construction company’s stock valued at $175,000 after buying an additional 1,894 shares during the period. Finally, Nkcfo LLC bought a new stake in shares of Installed Building Products during the third quarter valued at about $195,000. Hedge funds and other institutional investors own 69.47% of the company’s stock.
Installed Building Products stock traded up $1.58 during midday trading on Monday, reaching $71.35. The stock had a trading volume of 121,200 shares, compared to its average volume of 202,022. The firm’s fifty day simple moving average is $64.62 and its two-hundred day simple moving average is $57.62. Installed Building Products has a twelve month low of $30.54 and a twelve month high of $76.60. The company has a debt-to-equity ratio of 2.52, a current ratio of 2.69 and a quick ratio of 2.39. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.44 and a beta of 1.17.
Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Friday, November 1st. The construction company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.13. Installed Building Products had a net margin of 4.47% and a return on equity of 45.94%. The firm had revenue of $396.40 million during the quarter, compared to analyst estimates of $385.46 million. During the same quarter last year, the business posted $0.72 EPS. The company’s revenue was up 13.6% on a year-over-year basis. As a group, sell-side analysts predict that Installed Building Products will post 3.07 EPS for the current fiscal year.
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 continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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