Installed Building Products, Inc. (IBP) Cut to “Hold” at Zacks Investment Research

Installed Building Products, Inc. (NYSE:IBP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, October 23rd.

According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “

Other equities analysts also recently issued research reports about the stock. Deutsche Bank AG increased their price target on shares of Installed Building Products from $58.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, August 21st. BidaskClub raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Royal Bank of Canada reaffirmed a “buy” rating and set a $69.00 price target on shares of Installed Building Products in a report on Monday, October 16th. KeyCorp reaffirmed a “hold” rating on shares of Installed Building Products in a report on Tuesday, September 26th. Finally, Credit Suisse Group set a $73.00 price objective on shares of Installed Building Products and gave the stock an “outperform” rating in a report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $67.17.

Installed Building Products (IBP) opened at $62.85 on Monday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.98 and a current ratio of 2.22. The stock has a market cap of $2,002.59, a P/E ratio of 47.98 and a beta of 0.84. Installed Building Products has a one year low of $37.05 and a one year high of $70.25.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Friday, November 3rd. The construction company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.07). The company had revenue of $295.20 million for the quarter, compared to analysts’ expectations of $292.51 million. Installed Building Products had a return on equity of 23.40% and a net margin of 3.88%. The business’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 EPS. research analysts forecast that Installed Building Products will post 1.48 EPS for the current fiscal year.

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In other news, COO Jay P. Elliott sold 2,500 shares of Installed Building Products stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.61, for a total value of $161,525.00. Following the transaction, the chief operating officer now owns 51,312 shares of the company’s stock, valued at approximately $3,315,268.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Thomas Miller sold 1,661 shares of Installed Building Products stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $60.00, for a total transaction of $99,660.00. Following the completion of the transaction, the vice president now directly owns 32,086 shares in the company, valued at approximately $1,925,160. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,742 shares of company stock worth $10,206,414. 32.90% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in IBP. Ameritas Investment Partners Inc. increased its position in shares of Installed Building Products by 11.7% in the second quarter. Ameritas Investment Partners Inc. now owns 1,894 shares of the construction company’s stock worth $100,000 after acquiring an additional 198 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Installed Building Products during the first quarter worth approximately $120,000. Pinebridge Investments L.P. boosted its holdings in shares of Installed Building Products by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 2,644 shares of the construction company’s stock worth $140,000 after purchasing an additional 34 shares during the period. D.A. Davidson & CO. boosted its holdings in shares of Installed Building Products by 12.8% during the second quarter. D.A. Davidson & CO. now owns 3,209 shares of the construction company’s stock worth $169,000 after purchasing an additional 364 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Installed Building Products by 79.4% during the second quarter. State of Alaska Department of Revenue now owns 3,965 shares of the construction company’s stock worth $209,000 after purchasing an additional 1,755 shares during the period. 64.84% of the stock is currently owned by institutional investors and hedge funds.

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.

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