Installed Building Products, Inc. (NYSE:IBP - Get Free Report) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 1,220,000 shares, a growth of 14.0% from the November 30th total of 1,070,000 shares. Currently, 5.2% of the shares of the company are sold short. Based on an average daily volume of 284,100 shares, the short-interest ratio is currently 4.3 days.
Institutional Investors Weigh In On Installed Building Products
Institutional investors have recently added to or reduced their stakes in the stock. Xponance Inc. boosted its position in Installed Building Products by 5.3% in the second quarter. Xponance Inc. now owns 1,519 shares of the construction company's stock valued at $312,000 after buying an additional 76 shares in the last quarter. GHP Investment Advisors Inc. increased its position 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 acquiring an additional 78 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of Installed Building Products by 6.4% in the third quarter. NBC Securities Inc. now owns 1,784 shares of the construction company's stock valued at $439,000 after purchasing an additional 108 shares in the last quarter. Arizona State Retirement System lifted its holdings in Installed Building Products by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 6,750 shares of the construction company's stock worth $1,388,000 after buying an additional 114 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Installed Building Products in the 3rd quarter valued at $29,000. 99.61% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on IBP shares. Jefferies Financial Group raised their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a "hold" rating in a research note on Wednesday, October 9th. Royal Bank of Canada lowered shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and decreased their price objective for the stock from $203.00 to $197.00 in a report on Friday, November 8th. StockNews.com raised Installed Building Products from a "hold" rating to a "buy" rating in a research report on Wednesday, December 18th. DA Davidson cut their price objective 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. Finally, JPMorgan Chase & Co. raised their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. 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 company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $247.10.
Read Our Latest Research Report on Installed Building Products
Installed Building Products Stock Performance
NYSE IBP traded up $0.77 during midday trading on Wednesday, hitting $175.25. The company had a trading volume of 196,875 shares, compared to its average volume of 291,344. The firm has a fifty day simple moving average of $207.31 and a two-hundred day simple moving average of $219.82. Installed Building Products has a fifty-two week low of $168.08 and a fifty-two week high of $281.04. 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 has a market cap of $4.93 billion, a price-to-earnings ratio of 19.47 and a beta of 1.93.
Installed Building Products Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Sunday, December 15th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, December 13th. Installed Building Products's payout ratio is 15.56%.
About Installed Building Products
(
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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.
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