Installed Building Products, Inc. (NYSE:IBP) Short Interest Update

Installed Building Products, Inc. (NYSE:IBP) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 1,710,000 shares, an increase of 5.6% from the August 31st total of 1,620,000 shares. Based on an average daily volume of 313,500 shares, the days-to-cover ratio is currently 5.5 days. Currently, 7.2% of the shares of the company are short sold.

Analyst Ratings Changes

Several analysts have recently weighed in on IBP shares. StockNews.com downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Stephens reaffirmed an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group lifted their target price on shares of Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, July 17th. Finally, Evercore ISI lifted their target price on shares of Installed Building Products from $274.00 to $282.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $255.20.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently modified their holdings of IBP. Swedbank AB purchased a new stake in shares of Installed Building Products in the first quarter valued at about $96,248,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after purchasing an additional 183,696 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in shares of Installed Building Products by 3,919.2% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 142,723 shares of the construction company’s stock valued at $26,093,000 after purchasing an additional 139,172 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Installed Building Products by 395.3% in the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after purchasing an additional 114,259 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Installed Building Products by 2,912.0% in the second quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock valued at $15,488,000 after purchasing an additional 72,800 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Stock Up 0.3 %

IBP stock opened at $246.95 on Wednesday. The company has a market cap of $7.02 billion, a P/E ratio of 27.94 and a beta of 1.93. Installed Building Products has a 52 week low of $106.01 and a 52 week high of $281.04. The company’s 50-day moving average price is $227.37 and its 200 day moving average price is $227.34. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The firm had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. On average, research analysts expect that Installed Building Products will post 11.06 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Sunday, September 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Friday, September 13th. Installed Building Products’s dividend payout ratio (DPR) is presently 15.84%.

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.