Short Interest in Installed Building Products, Inc. (NYSE:IBP) Expands By 5.6%

Installed Building Products, Inc. (NYSE:IBP) was the recipient of a large increase in short interest in 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. Currently, 7.2% of the company’s shares are short sold. Based on an average trading volume of 313,500 shares, the short-interest ratio is currently 5.5 days.

Analyst Ratings Changes

Several equities analysts recently issued reports on IBP shares. Royal Bank of Canada increased their target price on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Jefferies Financial Group increased their price target on Installed Building Products from $239.00 to $250.00 and gave the company a “hold” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group increased their price target on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Stephens reaffirmed an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $255.20.

Installed Building Products Stock Performance

Shares of IBP stock traded up $0.68 during midday trading on Tuesday, hitting $246.95. The company had a trading volume of 136,322 shares, compared to its average volume of 293,492. The company’s 50 day simple moving average is $227.37 and its 200 day simple moving average is $227.34. Installed Building Products has a 52-week low of $106.01 and a 52-week high of $281.04. The stock has a market cap of $7.02 billion, a price-to-earnings ratio of 27.94 and a beta of 1.93. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating 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 return on equity of 44.93% and a net margin of 8.89%. Research analysts anticipate that Installed Building Products will post 11.06 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

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

Hedge Funds Weigh In On Installed Building Products

A number of institutional investors have recently made changes to their positions in IBP. Vanguard Group Inc. grew its position in Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after acquiring an additional 18,890 shares during the period. Duality Advisers LP grew its position in Installed Building Products by 32.2% during the first quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock valued at $3,596,000 after acquiring an additional 3,389 shares during the period. Goodnow Investment Group LLC grew its position in Installed Building Products by 28.9% during the fourth quarter. Goodnow Investment Group LLC now owns 92,423 shares of the construction company’s stock valued at $16,897,000 after acquiring an additional 20,737 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in Installed Building Products during the first quarter valued at about $564,000. Finally, Swedbank AB boosted its position in shares of Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after buying an additional 43,000 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

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.