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

Installed Building Products (NYSE:IBP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday. The brokerage currently has a $83.00 target price on the construction company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 24.25% from the company’s current price.

According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “

IBP has been the topic of several other research reports. Credit Suisse Group set a $73.00 target price on Installed Building Products and gave the company an “outperform” rating in a research report on Tuesday, October 17th. Zelman & Associates lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Jefferies Group assumed coverage on Installed Building Products in a research report on Tuesday, December 12th. They set a “hold” rating and a $69.00 target price on the stock. SunTrust Banks restated a “buy” rating and set a $65.00 target price on shares of Installed Building Products in a research report on Friday, November 3rd. Finally, Royal Bank of Canada restated a “buy” rating and set a $69.00 target price on shares of Installed Building Products in a research report on Monday, October 16th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $70.57.

Shares of Installed Building Products (NYSE:IBP) opened at $66.80 on Thursday. The firm has a market capitalization of $2,292.51 and a PE ratio of 50.99. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.22 and a quick ratio of 1.93. Installed Building Products has a one year low of $40.10 and a one year high of $79.40.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Friday, November 3rd. The construction company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). The company had revenue of $295.20 million during the quarter, compared to analyst estimates of $292.51 million. Installed Building Products had a net margin of 4.07% and a return on equity of 25.19%. The company’s quarterly revenue was up 31.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. sell-side analysts expect that Installed Building Products will post 1.46 EPS for the current year.

In other Installed Building Products news, CEO Jeffrey W. Edwards sold 200,000 shares of the stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $74.25, for a total value of $14,850,000.00. Following the transaction, the chief executive officer now owns 504,800 shares in the company, valued at $37,481,400. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Vikas Verma purchased 3,318 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was purchased at an average price of $59.98 per share, for a total transaction of $199,013.64. Following the acquisition, the director now owns 230,251 shares of the company’s stock, valued at approximately $13,810,454.98. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 273,000 shares of company stock worth $20,239,000. 32.90% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in IBP. Schwab Charles Investment Management Inc. boosted its holdings in Installed Building Products by 5.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 92,446 shares of the construction company’s stock worth $4,896,000 after acquiring an additional 4,416 shares in the last quarter. Swiss National Bank boosted its holdings in Installed Building Products by 20.5% in the second quarter. Swiss National Bank now owns 37,033 shares of the construction company’s stock worth $1,961,000 after acquiring an additional 6,300 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Installed Building Products by 54.2% in the second quarter. Wells Fargo & Company MN now owns 33,474 shares of the construction company’s stock worth $1,772,000 after acquiring an additional 11,768 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Installed Building Products by 156.9% in the second quarter. Alliancebernstein L.P. now owns 65,500 shares of the construction company’s stock worth $3,468,000 after acquiring an additional 40,000 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in Installed Building Products by 15.1% in the second quarter. TIAA CREF Investment Management LLC now owns 81,717 shares of the construction company’s stock worth $4,327,000 after acquiring an additional 10,738 shares in the last quarter. Institutional investors and hedge funds own 66.04% of the company’s stock.

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Installed Building Products Company Profile

Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 continental states and the District of Columbia. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, which provides cross-selling opportunities to supplement the insulation installation business.

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