Installed Building Products (IBP) Stock Rating Lowered by Zelman & Associates

Zelman & Associates cut shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research report report published on Friday, January 5th, The Fly reports.

Several other brokerages also recently issued reports on IBP. Credit Suisse Group set a $73.00 price objective on Installed Building Products and gave the company an outperform rating in a research report on Tuesday, October 17th. Jefferies Group initiated coverage on Installed Building Products in a research report on Tuesday, December 12th. They issued a hold rating and a $69.00 price objective on the stock. SunTrust Banks restated a buy rating and issued a $65.00 price objective on shares of Installed Building Products in a research report on Friday, November 3rd. Zacks Investment Research lowered Installed Building Products from a buy rating to a hold rating in a research note on Monday, October 23rd. Finally, KeyCorp reiterated a hold rating on shares of Installed Building Products in a research note on Tuesday, September 26th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $67.43.

Shares of Installed Building Products (IBP) opened at $73.00 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.93 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $2,325.97, a price-to-earnings ratio of 55.73 and a beta of 0.87. Installed Building Products has a 12-month low of $40.00 and a 12-month high of $79.40.

Installed Building Products (NYSE:IBP) last posted its earnings results on Friday, November 3rd. The construction company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.07). Installed Building Products had a return on equity of 23.40% and a net margin of 3.88%. The firm had revenue of $295.20 million for the quarter, compared to analysts’ expectations of $292.51 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. equities analysts predict that Installed Building Products will post 1.46 EPS for the current year.

In other Installed Building Products news, Director J Michael Nixon sold 50,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $73.57, for a total transaction of $3,678,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vikas Verma purchased 3,318 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were purchased at an average price of $59.98 per share, with a total value of $199,013.64. Following the completion of the purchase, the director now directly owns 230,251 shares of the company’s stock, valued at $13,810,454.98. The disclosure for this purchase can be found here. Corporate insiders own 32.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Crow Point Partners LLC acquired a new stake in shares of Installed Building Products in the fourth quarter valued at about $128,000. Algert Global LLC acquired a new stake in shares of Installed Building Products in the third quarter valued at about $2,519,000. California Public Employees Retirement System grew its stake in shares of Installed Building Products by 77.2% in the third quarter. California Public Employees Retirement System now owns 26,223 shares of the construction company’s stock valued at $1,699,000 after buying an additional 11,423 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Installed Building Products 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 buying an additional 793 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Installed Building Products by 26.1% in the third quarter. Cubist Systematic Strategies LLC now owns 5,758 shares of the construction company’s stock valued at $373,000 after buying an additional 1,193 shares in the last quarter. Institutional investors and hedge funds own 65.87% of the company’s stock.

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About Installed Building Products

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.

The Fly

Analyst Recommendations for Installed Building Products (NYSE:IBP)

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