Jefferies took its Installed Building Products Inc. [NYSE:IBP] rating to the equivalent of Buy from Hold, and the price target to $132 from $106, in a research note dated January 4, 2021. That figure represents around a 29.37% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with KeyBanc Capital Markets’s analysts upgrading the shares from “a Sector weight” rating to “an Overweight” rating in a research note to investors issued in late October. Meanwhile, The Benchmark Company had lowered its rating on IBP to “Hold” from the earlier ”Buy”, in a research note produced for clients October 05, 2020. In addition, there was a new coverage from Berenberg on August 19, 2020. The research firm rated IBP “a Buy”.
Is Installed Building Products Inc. [NYSE:IBP] a Good Buy Right Now?
It should be noted that IBP technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 88% Buy in the last week and compares with 40% Buy in the past month. Data from Installed Building Products Inc.’s Trend Spotter indicated that the signals were Weakest. The stock current average is 0.19 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.22 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.23 million shares.
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IBP Price Performance
On Wall Street, Installed Building Products Inc. [NYSE:IBP] finished Thursday’s session down -1.79% at $101.93. The stock went up to $103.77 at the same session while its lowest single day price was $101.04. In the last five days, it saw a fall of about -4.61%, Installed Building Products Inc. shares gained by almost 48.00% since the beginning of the year. However, the share price has dropped to as low as -16.22% below its one year high. On 10/12/20, the company shares recorded $121.67, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 03/19/20, the same year at $29.02. The company’s shares have inclined by 47.60% in the past year. The 50-day SMA achieved is $99.26 while the 200-day SMA is $79.38. Volume dropped to 0.13 million from 0.14 million in the previous session.
Installed Building Products Inc. [IBP] Valuation Measures
Notably, Installed Building Products Inc. [IBP] stock cannot be classified as a good candidate in the listing of underestimated low-priced Building Products & Equipment companies to purchase soonest possible with the prevailing 12-month PE ratio of 34.25. The measure means the stock is exchanging at a premium as compared to the 14.40x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 1.92 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 0.67 which means IBP serve an unattractive investment opportunity compared to its competitors.
IBP Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 100.72 level, and in case of violation of this particular level, it will cause more drop to 99.52 level. On the upper level, 104.98 is still the key resistance. The stock may increase to the subsequent resistance at 103.45. The Relative Strength Index (RSI) pinned on the 14-day chart is 50.22, implying a neutral technical stance while the MACD stands at -0.48, meaning price will decrease in the next trading period. Percent R indicator moved to 50.17%, implying low price movement. Stochastic %K at 58.60% suggest selling the stock.
What is the short interest in Installed Building Products Inc.?
Short interest in the Installed Building Products Inc. stock has surged, increasing by 0.22 million shares to total 0.58 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.8 million, data from Yahoo Finance shows. The decrease of -37.7% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 3.03% of the overall float for the stock.
Installed Building Products Inc.’s Biggest Shareholders: Who Owns Installed Building Products Inc. [IBP]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 3,356,070 shares or roughly 11.26% of the outstanding IBP shares. This means their shares have increased by 123,118 from the 3,356,070 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $222,892,562. Details in the latest 13F filings reveal that BAMCO, Inc. acquired their 0.34% stake valued at $204,183,366 while Wellington Management Co. LLP added theirs at $97,297,184. During the last quarter, BAMCO, Inc. raised 7,015 of its shares in Installed Building Products Inc. while Wellington Management Co. LLP bought 1,028 shares. The Dimensional Fund Advisors LP’s holdings currently number 960,820 shares at $97936382.6. According to the firm’s last 13F report, Ivy Investment Management Co. shares in the company at filing stood at 801,709 shares, roughly $79,224,883.
IBP Earnings Forecast For The Current Quarter
Installed Building Products Inc. [IBP] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $446.85M and an earnings per share of $1.23 for Dec 2020. Looking further ahead, the company is expected to report revenue of $454.59M at an EPS of $1.08 for Mar 2021. The estimates represent upside of 15.00% and 30.38% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
IBP Earnings Estimates For The Current Year
For the financial year, Installed Building Products Inc. [NYSE:IBP] is expected to bring in revenue of $1.66B. The returns are nearly $150.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 4.34, higher than that of FY19 by $1.05. Estimates put this year’s earnings growth at 31.90%, 30.40% for the next, and at an annual 36.30% over the next 5-year period. As for sales, forecasts are for an increase of 9.70% in the current fiscal year and a further 15.00% over the following year.