Installed Building Products (NYSE:IBP) Rating Lowered to Hold at Wall Street Zen

Installed Building Products (NYSE:IBP) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other brokerages also recently commented on IBP. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $245.00 price target on shares of Installed Building Products in a report on Tuesday, January 13th. Evercore ISI set a $265.00 price target on shares of Installed Building Products in a research report on Thursday, November 6th. Wells Fargo & Company increased their price target on shares of Installed Building Products from $275.00 to $310.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada boosted their price objective on shares of Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a research report on Thursday, November 6th. Finally, Weiss Ratings raised Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $235.36.

Installed Building Products Trading Down 1.5%

Shares of Installed Building Products stock opened at $309.60 on Friday. Installed Building Products has a 1 year low of $150.83 and a 1 year high of $317.86. The stock has a fifty day moving average price of $270.54 and a 200-day moving average price of $252.89. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.78 and a quick ratio of 2.28. The firm has a market cap of $8.40 billion, a PE ratio of 33.33, a P/E/G ratio of 5.72 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.49. The business had revenue of $778.20 million during the quarter, compared to analyst estimates of $751.98 million. Installed Building Products had a return on equity of 62.74% and a net margin of 8.60%.Installed Building Products’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.85 earnings per share. Equities research analysts anticipate that Installed Building Products will post 10.66 EPS for the current year.

Insiders Place Their Bets

In other news, insider William Jeffrey Hire sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the completion of the transaction, the insider owned 32,999 shares in the company, valued at $8,303,538.37. This trade represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael H. Thomas sold 2,001 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total value of $536,828.28. Following the sale, the director directly owned 8,373 shares in the company, valued at $2,246,308.44. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 16.20% of the company’s stock.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in the business. Apollon Wealth Management LLC purchased a new stake in Installed Building Products during the 3rd quarter worth approximately $481,000. Bayforest Capital Ltd raised its holdings in Installed Building Products by 180.0% during the third quarter. Bayforest Capital Ltd now owns 2,853 shares of the construction company’s stock worth $704,000 after purchasing an additional 1,834 shares in the last quarter. Blalock Williams LLC purchased a new stake in Installed Building Products in the third quarter valued at $792,000. Timucuan Asset Management Inc. FL grew its stake in Installed Building Products by 73.2% during the 2nd quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock worth $156,261,000 after buying an additional 366,250 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Installed Building Products by 19.3% in the 2nd quarter. Franklin Resources Inc. now owns 238,077 shares of the construction company’s stock valued at $42,930,000 after purchasing an additional 38,585 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 (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.