Installed Building Prods (IBP) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Installed Building Prods (NYSE:IBP) from a sell rating to a hold rating in a report issued on Saturday, March 10th.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada set a $71.00 price target on Installed Building Prods and gave the company a buy rating in a report on Thursday, March 1st. Stephens set a $71.00 target price on Installed Building Prods and gave the stock a buy rating in a research note on Thursday, March 1st. Zelman & Associates raised Installed Building Prods from a hold rating to a buy rating in a research note on Friday, February 16th. Jefferies Group assumed coverage on Installed Building Prods in a research note on Tuesday, December 12th. They set a hold rating and a $69.00 target price for the company. Finally, Credit Suisse Group reissued an outperform rating and set a $85.00 target price (up previously from $73.00) on shares of Installed Building Prods in a research note on Monday, January 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Installed Building Prods currently has a consensus rating of Buy and a consensus target price of $70.70.

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Shares of NYSE:IBP traded up $2.95 during midday trading on Friday, hitting $59.00. The company had a trading volume of 245,538 shares, compared to its average volume of 272,416. Installed Building Prods has a twelve month low of $46.65 and a twelve month high of $79.40. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.92 and a current ratio of 2.22. The stock has a market cap of $1,830.48, a PE ratio of 49.58, a P/E/G ratio of 0.88 and a beta of 0.91.

Installed Building Prods (NYSE:IBP) last posted its quarterly earnings results on Wednesday, February 28th. The construction company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.20). Installed Building Prods had a net margin of 3.63% and a return on equity of 19.75%. The company had revenue of $299.87 million during the quarter, compared to analyst estimates of $302.02 million. During the same period in the prior year, the business posted $0.44 EPS. Installed Building Prods’s revenue for the quarter was up 28.2% compared to the same quarter last year. analysts predict that Installed Building Prods will post 2.16 earnings per share for the current fiscal year.

Installed Building Prods announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 28th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

In other news, COO Jay P. Elliott sold 3,000 shares of Installed Building Prods stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $73.50, for a total value of $220,500.00. Following the completion of the sale, the chief operating officer now directly owns 48,312 shares of the company’s stock, valued at $3,550,932. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Michael Nixon sold 20,000 shares of Installed Building Prods stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $74.50, for a total value of $1,490,000.00. The disclosure for this sale can be found here. Insiders own 32.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of IBP. Ameritas Investment Partners Inc. boosted its holdings in Installed Building Prods by 11.7% in the second quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock valued at $100,000 after purchasing an additional 198 shares during the period. American Century Companies Inc. boosted its holdings in Installed Building Prods by 0.7% in the third quarter. American Century Companies Inc. now owns 116,938 shares of the construction company’s stock valued at $7,578,000 after purchasing an additional 782 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Installed Building Prods by 32.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock valued at $207,000 after purchasing an additional 793 shares during the period. Campbell Newman Asset Management Inc. boosted its holdings in Installed Building Prods by 22.7% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 4,445 shares of the construction company’s stock valued at $338,000 after purchasing an additional 821 shares during the period. Finally, Swiss National Bank boosted its holdings in Installed Building Prods by 2.7% in the fourth quarter. Swiss National Bank now owns 38,033 shares of the construction company’s stock valued at $2,889,000 after purchasing an additional 1,000 shares during the period. 68.26% of the stock is owned by institutional investors and hedge funds.

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Installed Building Prods Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Installed Building Prods (NYSE:IBP)

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