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

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

A number of other research analysts have also weighed in on IBP. Evercore set a $222.00 price target on shares of Installed Building Products in a research note on Friday. DA Davidson increased their price objective on shares of 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 initiated coverage on shares of Installed Building Products in a report on Monday, September 14th. They set a “buy” rating and a $240.00 price objective on the stock. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Finally, Wells Fargo & Company reduced 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 note on Friday, September 11th. Two analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has a consensus rating of “Hold” and an average price target of $245.36.

Installed Building Products Trading Down 2.0%

NYSE IBP opened at $196.31 on Friday. Installed Building Products has a one year low of $192.65 and a one year high of $349.00. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The firm has a market cap of $5.22 billion, a P/E ratio of 21.13, a P/E/G ratio of 3.73 and a beta of 1.71. The stock’s 50-day moving average is $227.67 and its 200-day moving average is $238.07.

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

Insiders Place Their Bets

In other news, Director Janet Jackson sold 1,086 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the completion of the transaction, the director directly owned 5,142 shares of the company’s stock, valued at $1,218,962.52. This trade represents a 17.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is currently owned by company insiders.

Institutional Trading of Installed Building Products

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

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.