Short Interest in Installed Building Products, Inc. (NYSE:IBP) Grows By 8.4%

Installed Building Products, Inc. (NYSE:IBP) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,810,000 shares, a growth of 8.4% from the September 30th total of 1,670,000 shares. Based on an average trading volume of 272,600 shares, the days-to-cover ratio is presently 6.6 days. Currently, 7.7% of the company’s shares are short sold.

Hedge Funds Weigh In On Installed Building Products

Several large investors have recently bought and sold shares of IBP. Allspring Global Investments Holdings LLC purchased a new position in shares of Installed Building Products in the 1st quarter worth approximately $29,000. V Square Quantitative Management LLC purchased a new position in Installed Building Products in the third quarter worth $29,000. GHP Investment Advisors Inc. grew its stake in Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. CWM LLC increased its position in shares of Installed Building Products by 32.1% during the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after purchasing an additional 62 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Installed Building Products during the 1st quarter worth $68,000. 99.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

IBP has been the topic of a number of analyst reports. Jefferies Financial Group upped their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Stephens reiterated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Evercore ISI lifted their price objective on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada upped their target price on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $254.40.

Installed Building Products Stock Up 0.8 %

Installed Building Products stock traded up $1.71 during mid-day trading on Wednesday, reaching $217.15. The stock had a trading volume of 269,522 shares, compared to its average volume of 289,246. The firm has a market capitalization of $6.18 billion, a PE ratio of 24.58 and a beta of 1.94. Installed Building Products has a fifty-two week low of $109.93 and a fifty-two week high of $281.04. The stock’s 50-day simple moving average is $231.63 and its 200-day simple moving average is $225.66. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08.

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

Installed Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Sunday, September 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Friday, September 13th. Installed Building Products’s payout ratio is currently 15.84%.

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