Installed Building Products (NYSE:IBP) Hits New 1-Year Low – Here’s What Happened

Installed Building Products, Inc. (NYSE:IBP)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $162.20 and last traded at $165.35, with a volume of 281189 shares. The stock had previously closed at $165.50.

Analysts Set New Price Targets

Several analysts recently issued reports on IBP shares. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from $203.00 to $197.00 in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group decreased their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. DA Davidson reduced their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and an average target price of $240.40.

Installed Building Products Stock Performance

The company has a market capitalization of $4.80 billion, a P/E ratio of 18.95 and a beta of 1.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The firm has a 50 day moving average price of $183.46 and a two-hundred day moving average price of $209.19.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, February 27th. The construction company reported $2.74 EPS for the quarter, missing the consensus estimate of $2.91 by ($0.17). Installed Building Products had a return on equity of 43.56% and a net margin of 8.74%. On average, research analysts expect that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IBP. FMR LLC increased its position in shares of Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after buying an additional 367,628 shares in the last quarter. Summit Partners Public Asset Management LLC bought a new stake in shares of Installed Building Products in the 3rd quarter valued at $54,499,000. First Trust Advisors LP increased its position in shares of Installed Building Products by 69.8% in the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company’s stock valued at $85,124,000 after buying an additional 199,657 shares in the last quarter. Norges Bank bought a new stake in shares of Installed Building Products in the 4th quarter valued at $28,509,000. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of Installed Building Products by 87.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company’s stock valued at $59,249,000 after buying an additional 158,173 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.