Installed Building Products (NYSE:IBP) Stock Rating Upgraded by Zacks Research

by · The Markets Daily

Installed Building Products (NYSE:IBP – Get Free Report) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday, Zacks reports.

IBP has been the subject of a number of other research reports. Wells Fargo & Company cut their target price on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a research report on Friday, September 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. DA Davidson boosted their price objective on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Stifel Nicolaus assumed coverage on Installed Building Products in a research note on Monday, September 14th. They set a “buy” rating and a $240.00 target price for the company. Finally, Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, September 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus price target of $245.36.

Check Out Our Latest Analysis on Installed Building Products

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $192.97 on Thursday. The firm has a fifty day simple moving average of $225.14 and a 200-day simple moving average of $235.93. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. Installed Building Products has a 1-year low of $186.64 and a 1-year high of $349.00. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 3.59 and a beta of 1.71.

Installed Building Products (NYSE:IBP – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. During the same period in the prior year, the firm earned $2.95 EPS. Installed Building Products’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Installed Building Products will post 9.89 earnings per share for the current year.

Insider Transactions at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the transaction, the director owned 5,142 shares in the company, valued at approximately $1,218,962.52. The trade was a 17.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 13.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IBP. Anchor Investment Management LLC grew its position in Installed Building Products by 11.7% during the second quarter. Anchor Investment Management LLC now owns 1,340 shares of the construction company’s stock worth $308,000 after buying an additional 140 shares in the last quarter. WINTON GROUP Ltd bought a new position in Installed Building Products during the second quarter valued at about $1,180,000. Engineers Gate Manager LP acquired a new position in Installed Building Products in the 2nd quarter valued at approximately $695,000. Summit Financial Strategies Inc. raised its holdings in Installed Building Products by 79.2% in the 2nd quarter. Summit Financial Strategies Inc. now owns 5,189 shares of the construction company’s stock valued at $1,193,000 after acquiring an additional 2,293 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its holdings in Installed Building Products by 27.0% in the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 15,203 shares of the construction company’s stock valued at $3,494,000 after acquiring an additional 3,229 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

About Installed Building Products

(Get Free Report)

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.

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