Installed Building Products (IBP) Rating Lowered to Hold at Zelman & Associates

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

Several other brokerages have also recently issued reports on IBP. Credit Suisse Group set a $73.00 target price 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 report on Tuesday, December 12th. They set a hold rating and a $69.00 price objective for the company. SunTrust Banks reiterated a buy rating and set a $65.00 price objective on shares of Installed Building Products in a report on Friday, November 3rd. Zacks Investment Research lowered Installed Building Products from a buy rating to a hold rating in a report on Monday, October 23rd. Finally, KeyCorp reiterated a hold rating on shares of Installed Building Products in a report on Tuesday, September 26th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $69.14.

Installed Building Products (IBP) opened at $73.70 on Friday. Installed Building Products has a 52 week low of $40.00 and a 52 week high of $79.40. The stock has a market capitalization of $2,350.00, a P/E ratio of 56.26 and a beta of 0.87. The company has a quick ratio of 1.93, a current ratio of 2.22 and a debt-to-equity ratio of 1.70.

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

In other Installed Building Products news, Director J Michael Nixon sold 20,000 shares of Installed Building Products stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $74.50, for a total transaction of $1,490,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vikas Verma acquired 3,318 shares of Installed Building Products stock in a transaction on Wednesday, November 8th. The shares were bought at an average price of $59.98 per share, with a total value of $199,013.64. Following the purchase, the director now directly owns 230,251 shares in the company, valued at approximately $13,810,454.98. The disclosure for this purchase can be found here. Insiders sold a total of 270,000 shares of company stock valued at $20,018,500 in the last 90 days. 32.90% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Installed Building Products by 3.1% during the 2nd quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock valued at $149,836,000 after acquiring an additional 84,555 shares during the period. Wasatch Advisors Inc. grew its position in shares of Installed Building Products by 3.9% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,104,994 shares of the construction company’s stock valued at $58,509,000 after acquiring an additional 41,236 shares during the period. Vanguard Group Inc. grew its position in shares of Installed Building Products by 3.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,046,278 shares of the construction company’s stock valued at $55,400,000 after acquiring an additional 37,019 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Installed Building Products by 5.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 852,519 shares of the construction company’s stock valued at $55,243,000 after acquiring an additional 42,938 shares during the period. Finally, State Street Corp grew its position in shares of Installed Building Products by 7.2% during the 2nd quarter. State Street Corp now owns 584,897 shares of the construction company’s stock valued at $30,963,000 after acquiring an additional 39,302 shares during the period. Institutional investors and hedge funds own 65.14% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Installed Building Products (IBP) Rating Lowered to Hold at Zelman & Associates” was originally reported by BBNS and is the property of of BBNS. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://baseballnewssource.com/markets/installed-building-products-ibp-rating-lowered-to-hold-at-zelman-associates/1819979.html.

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)

Receive News & Ratings for Installed Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires


Leave a Reply

 
© 2006-2018 BBNS.