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

Installed Building Products, Inc. (NYSE:IBP) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,810,000 shares, an increase of 8.4% from the September 30th total of 1,670,000 shares. Based on an average daily trading volume, of 272,600 shares, the short-interest ratio is currently 6.6 days. Approximately 7.7% of the shares of the stock are short sold.

Installed Building Products Trading Down 0.2 %

Shares of NYSE:IBP opened at $216.90 on Friday. 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 has a 1 year low of $109.93 and a 1 year high of $281.04. The company has a market cap of $6.12 billion, a P/E ratio of 24.21 and a beta of 1.94. The stock’s fifty day moving average price is $231.56 and its 200-day moving average price is $225.60.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The firm had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Sell-side analysts expect that Installed Building Products will post 11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC purchased a new position in Installed Building Products during the first quarter valued at approximately $29,000. V Square Quantitative Management LLC bought a new position in Installed Building Products in the 3rd quarter worth $29,000. GHP Investment Advisors Inc. increased 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 worth $30,000 after buying an additional 78 shares in the last quarter. CWM LLC lifted its position in shares of Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Installed Building Products during the 1st quarter valued at approximately $68,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on IBP. The Goldman Sachs Group upped their price objective on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Stephens restated an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a report on Monday, August 5th. Royal Bank of Canada lifted their price target on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Finally, Evercore ISI raised their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Installed Building Products currently has a consensus rating of “Hold” and an average price target of $254.40.

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.