Installed Building Products, Inc. (NYSE:IBP) Sees Significant Increase in Short Interest

Installed Building Products, Inc. (NYSE:IBP) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 1,460,000 shares, an increase of 7.4% from the January 15th total of 1,360,000 shares. Based on an average daily volume of 306,000 shares, the days-to-cover ratio is presently 4.8 days. Currently, 6.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank of Canada downgraded shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $203.00 to $197.00 in a report on Friday, November 8th. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. upped their price target on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, DA Davidson decreased their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Installed Building Products has an average rating of “Hold” and an average target price of $240.40.

Installed Building Products Price Performance

Shares of IBP stock traded down $4.34 during trading on Tuesday, hitting $173.73. The company had a trading volume of 400,942 shares, compared to its average volume of 312,382. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The stock’s 50-day moving average is $187.49 and its two-hundred day moving average is $211.53. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 19.30 and a beta of 1.99. Installed Building Products has a 52 week low of $169.02 and a 52 week high of $281.04.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky grew its position in Installed Building Products by 121.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock valued at $3,963,000 after acquiring an additional 8,815 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new position in Installed Building Products during the third quarter valued at approximately $54,499,000. Creative Planning grew its position in Installed Building Products by 39.6% during the third quarter. Creative Planning now owns 7,712 shares of the construction company’s stock valued at $1,899,000 after acquiring an additional 2,187 shares during the last quarter. Natixis Advisors LLC grew its position in Installed Building Products by 6.4% during the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after acquiring an additional 4,451 shares during the last quarter. Finally, Citigroup Inc. grew its position in Installed Building Products by 54.0% during the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after acquiring an additional 16,569 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

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.