Michael H. Thomas Sells 3,500 Shares of Installed Building Products Inc (NYSE:IBP) Stock

Installed Building Products Inc (NYSE:IBP) Director Michael H. Thomas sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $93.99, for a total transaction of $328,965.00. Following the completion of the transaction, the director now owns 13,847 shares of the company’s stock, valued at approximately $1,301,479.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

IBP stock traded up $3.15 during mid-day trading on Wednesday, reaching $98.83. 308,493 shares of the company traded hands, compared to its average volume of 270,646. The company has a debt-to-equity ratio of 2.01, a current ratio of 2.90 and a quick ratio of 2.57. The company has a market capitalization of $2.95 billion, a P/E ratio of 36.07 and a beta of 1.86. Installed Building Products Inc has a 52-week low of $29.02 and a 52-week high of $99.89. The company has a fifty day moving average price of $87.41 and a 200-day moving average price of $64.80.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 6th. The construction company reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.35. The business had revenue of $393.94 million during the quarter, compared to analyst estimates of $372.61 million. Installed Building Products had a return on equity of 45.67% and a net margin of 5.14%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. As a group, analysts forecast that Installed Building Products Inc will post 4.01 EPS for the current year.

IBP has been the subject of several research reports. Berenberg Bank initiated coverage on shares of Installed Building Products in a research report on Wednesday, August 19th. They issued a “buy” rating and a $115.00 price target for the company. Benchmark reiterated a “buy” rating and set a $104.00 target price (up from $87.00) on shares of Installed Building Products in a research note on Monday, August 10th. Nomura lifted their target price on Installed Building Products from $59.00 to $65.00 in a research note on Wednesday, May 27th. Zelman & Associates upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research note on Friday, August 7th. Finally, Zacks Investment Research upgraded Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $99.00 target price on the stock in a research note on Thursday, August 13th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Installed Building Products currently has a consensus rating of “Buy” and a consensus price target of $76.62.

Hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in Installed Building Products by 31.5% during the 2nd quarter. FMR LLC now owns 522 shares of the construction company’s stock valued at $36,000 after buying an additional 125 shares in the last quarter. US Bancorp DE grew its holdings in Installed Building Products by 34.1% during the 2nd quarter. US Bancorp DE now owns 609 shares of the construction company’s stock valued at $42,000 after buying an additional 155 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in Installed Building Products by 30.4% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,210 shares of the construction company’s stock valued at $48,000 after buying an additional 282 shares in the last quarter. Pinz Capital Management LP purchased a new position in Installed Building Products during the 1st quarter valued at about $50,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Installed Building Products by 61.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,128 shares of the construction company’s stock valued at $85,000 after buying an additional 811 shares in the last quarter. 67.83% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile

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 continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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