Wall Street Zen Downgrades Installed Building Products (NYSE:IBP) to Hold

Installed Building Products (NYSE:IBP) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued research reports about the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Installed Building Products in a report on Saturday, September 27th. Jefferies Financial Group increased their price target on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Loop Capital downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $255.00 price objective for the company. in a research report on Friday, August 8th. Royal Bank Of Canada restated an “underperform” rating and issued a $184.00 price objective (up from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. Finally, Zacks Research upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and an average price target of $217.36.

Installed Building Products Stock Performance

Shares of IBP opened at $241.73 on Friday. The firm has a market capitalization of $6.61 billion, a P/E ratio of 26.89 and a beta of 1.83. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. Installed Building Products has a one year low of $150.83 and a one year high of $280.00. The business has a fifty day moving average of $253.23 and a 200 day moving average of $200.95.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.50. The company had revenue of $760.30 million for the quarter, compared to the consensus estimate of $711.37 million. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.Installed Building Products’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.84 earnings per share. As a group, sell-side analysts anticipate that Installed Building Products will post 10.66 EPS for the current year.

Insider Activity

In other news, Director Janet E. Jackson sold 1,469 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $266.00, for a total value of $390,754.00. Following the completion of the transaction, the director owned 6,873 shares of the company’s stock, valued at $1,828,218. This represents a 17.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Brad A. Wheeler sold 3,186 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $275.29, for a total value of $877,073.94. Following the sale, the chief operating officer owned 8,736 shares of the company’s stock, valued at $2,404,933.44. This represents a 26.72% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. lifted its holdings in shares of Installed Building Products by 165,300.0% in the first quarter. NBC Securities Inc. now owns 1,654 shares of the construction company’s stock worth $283,000 after buying an additional 1,653 shares in the last quarter. Vest Financial LLC increased its holdings in Installed Building Products by 16.0% in the 1st quarter. Vest Financial LLC now owns 15,985 shares of the construction company’s stock valued at $2,741,000 after acquiring an additional 2,208 shares during the last quarter. E. Ohman J or Asset Management AB increased its holdings in Installed Building Products by 28.8% in the 1st quarter. E. Ohman J or Asset Management AB now owns 14,970 shares of the construction company’s stock valued at $2,567,000 after acquiring an additional 3,351 shares during the last quarter. Radnor Capital Management LLC lifted its stake in Installed Building Products by 15.7% in the 1st quarter. Radnor Capital Management LLC now owns 7,103 shares of the construction company’s stock worth $1,218,000 after purchasing an additional 965 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Installed Building Products by 142.1% during the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company’s stock valued at $32,000 after purchasing an additional 108 shares during the last quarter. 99.61% of the stock is currently owned by institutional investors.

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.