BlackRock Fund Advisors has recently announced that it has increased stake in Installed Building Products Inc. (NYSE:IBP) by 3.00%. After grabbing 3.59 million shares, the institutional investor is now in possession of 0.1 million shares of the Industrials Company. The new investment brought the stake of investor firm to 12.54% having worth around $304.64 million. Moreover, The Vanguard Group, Inc. increased its share by 8240.0 to have a control over 2.45 million shares.
Installed Building Products Inc. (IBP) concluded trading on 01/11/23 at a closing price of $99.04, with 0.51 million shares of worth about $50.34 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 8.75% during that period and on Wednesday the price saw a gain of about 6.79%. Currently the company’s common shares owned by public are about 28.48M shares, out of which, 23.18M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 19 times over the past 12 months. They bought 49,859 shares in 14 of the transactions. In 5 selling transactions, insiders dumped 10,422 shares.
Findlay Park Funds Plc – American, iShares Core S&P Small Cap ETF, and Baron Small Cap Fund are the top 3 mutual funds which are holding stakes in Installed Building Products Inc. Findlay Park Funds Plc – American is currently holding 2.0 million shares of worth totaling $169.53 million. The company recently came buying 0.13 million shares which brought its stake up to 6.98% of the company’s outstanding shares. iShares Core S&P Small Cap ETF bought 600.0 shares, after which its hold over company’s outstanding shares expand to 6.17%, leaving 1.77 million shares with the mutual fund that have a worth of about $149.93 million. Baron Small Cap Fund, after selling 1.25 million shares, have now control over 4.37% of the stake in the company. It holds -0.15 million shares of worth $106.16 million.
Installed Building Products Inc. (NYSE: IBP) started trading at $95.99, above $3.25 from concluding price of the previous day. However, the stock later moved at a day high price of 99.04, or with a gain of 6.79%. Stock saw a price change of 9.26% in past 5 days and over the past one month there was a price change of 13.14%. Year-to-date (YTD), IBP shares are showing a performance of 15.70% which decreased to -17.47% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $69.44 but also hit the highest price of $125.16 during that period. The average intraday trading volume for Installed Building Products Inc. shares is 183.89K. The stock is currently trading 10.84% above its 20-day simple moving average (SMA20), while that difference is up 16.35% for SMA50 and it goes to 13.07% higher than SMA200.
BlackRock Fund Advisors acquired 3.59 million shares of Installed Building Products Inc. having value of about $304.64 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.1 million shares in the company valued at close to $10345619.36, or have control over 3.00% stake in the company. Installed Building Products Inc. (NYSE: IBP) currently have 28.48M outstanding shares and institutions hold larger chunk of about 83.20% of that. Holding of mutual funds in the company is about 29.61% while other institutional holders and individual stake holders have control over 56.57% and 24.89% of the stake respectively.
The stock has a current market capitalization of $2.75B and its 3Y-monthly beta is at 1.68. PE ratio of stock for trailing 12 months is 15.62, while it has posted earnings per share of $6.34 in the same period. Its PEG reads 0.90 and has Quick Ratio of 2.00 while making debt-to-equity ratio of 1.89. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for IBP, volatility over the week remained 2.54% while standing at 2.95% over the month.
Analysts are in expectations that Installed Building Products Inc. (IBP) stock would likely to be making an EPS of $2.3 in the current quarter, while forecast for next quarter EPS is $2 and it is $7.99 for next year. For the current quarter EPS, analysts have given the company a lowest target $2.11 which is $2.55 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.49 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 22.50% while it is estimated to decrease by -14.96% in next year. EPS is likely to shrink at an annualized rate of 17.36% for next 5-years, compared to annual growth of 26.70% made by the stock over the past 5-years.
Analysts at 11 brokerage firms have issued recommendations for the Installed Building Products Inc. (IBP)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.00. Out of those 11 Wall Street analysts, 2 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Deutsche Bank on January 11, 2023 offering a Buy rating for the stock and assigned a target price range of between $90 and $124 to it. Coverage by Loop Capital stated Installed Building Products Inc. (IBP) stock as a Hold in their note to investors on August 19, 2022, suggesting a price target of $110 for the stock. Stock get an Underperform rating from RBC Capital Mkts on June 22, 2022.