Installed Building Products (NYSE:IBP) Sets New 52-Week High – Here’s Why

Installed Building Products, Inc. (NYSE:IBP) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $319.71 and last traded at $316.7520, with a volume of 121780 shares traded. The stock had previously closed at $303.31.

Analysts Set New Price Targets

IBP has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Installed Building Products from $275.00 to $310.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Royal Bank Of Canada increased their price objective on Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a report on Thursday, November 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $245.00 target price on shares of Installed Building Products in a research report on Tuesday, January 13th. Evercore ISI set a $265.00 price target on Installed Building Products in a research note on Thursday, November 6th. Finally, Zacks Research lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Installed Building Products presently has an average rating of “Reduce” and an average target price of $235.36.

Installed Building Products Stock Performance

The company has a market capitalization of $8.58 billion, a PE ratio of 34.07, a price-to-earnings-growth ratio of 5.30 and a beta of 1.92. The firm’s fifty day simple moving average is $279.74 and its 200 day simple moving average is $260.82. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.78 and a quick ratio of 2.28.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The business had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. During the same quarter last year, the company earned $2.85 EPS. The business’s revenue was up 2.3% on a year-over-year basis. On average, research analysts predict that Installed Building Products, Inc. will post 10.66 EPS for the current year.

Insiders Place Their Bets

In other news, insider William Jeffrey Hire sold 5,000 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the sale, the insider owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. This represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael H. Thomas sold 2,001 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total value of $536,828.28. Following the completion of the sale, the director directly owned 8,373 shares in the company, valued at $2,246,308.44. This represents a 19.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

A number of large investors have recently modified their holdings of IBP. Apollon Wealth Management LLC purchased a new stake in Installed Building Products during the third quarter worth approximately $481,000. Bayforest Capital Ltd raised its holdings in Installed Building Products by 180.0% during the third quarter. Bayforest Capital Ltd now owns 2,853 shares of the construction company’s stock worth $704,000 after purchasing an additional 1,834 shares in the last quarter. Blalock Williams LLC purchased a new position in shares of Installed Building Products in the 3rd quarter valued at $792,000. Timucuan Asset Management Inc. FL lifted its position in Installed Building Products by 73.2% in the second quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock valued at $156,261,000 after acquiring an additional 366,250 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Installed Building Products by 19.3% in the second quarter. Franklin Resources Inc. now owns 238,077 shares of the construction company’s stock valued at $42,930,000 after acquiring an additional 38,585 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.