Installed Building Products, Inc. (IBP) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Installed Building Products, Inc. (NYSE:IBP) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

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 analysts have also recently issued research reports about the stock. Royal Bank Of Canada boosted their price objective on shares of Installed Building Products from $40.00 to $45.00 and gave the stock an outperform rating in a research note on Wednesday, November 16th. RBC Capital Markets boosted their price objective on shares of Installed Building Products from $40.00 to $45.00 and gave the stock an outperform rating in a research note on Wednesday, November 16th. Finally, Seaport Global Securities assumed coverage on shares of Installed Building Products in a research note on Tuesday, November 22nd. They issued a buy rating and a $52.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Installed Building Products presently has an average rating of Buy and an average price target of $42.17.

Installed Building Products (NYSE:IBP) remained flat at $41.60 during trading on Tuesday. The stock had a trading volume of 126,251 shares. The stock’s 50 day moving average is $41.74 and its 200-day moving average is $36.63. Installed Building Products has a 52-week low of $17.60 and a 52-week high of $44.30. The company has a market capitalization of $1.30 billion, a P/E ratio of 35.56 and a beta of 0.80.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, November 3rd. The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $225.40 million for the quarter, compared to the consensus estimate of $234 million. Installed Building Products had a return on equity of 29.06% and a net margin of 4.47%. The business’s quarterly revenue was up 24.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. Equities research analysts forecast that Installed Building Products will post $1.33 earnings per share for the current fiscal year.

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In other news, Director J Michael Nixon sold 50,000 shares of the company’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $42.01, for a total transaction of $2,100,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 35.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in IBP. Mason Street Advisors LLC bought a new position in shares of Installed Building Products during the second quarter valued at $118,000. SG Americas Securities LLC bought a new position in shares of Installed Building Products during the third quarter valued at $119,000. Municipal Employees Retirement System of Michigan raised its position in shares of Installed Building Products by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 3,680 shares of the company’s stock valued at $132,000 after buying an additional 60 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Installed Building Products by 102.0% in the second quarter. BNP Paribas Arbitrage SA now owns 5,398 shares of the company’s stock valued at $196,000 after buying an additional 2,726 shares in the last quarter. Finally, Shaker Investments LLC OH bought a new position in shares of Installed Building Products during the third quarter valued at $201,000. Hedge funds and other institutional investors own 68.19% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. The Company’s national platform consists of over 100 locations accessing customers in approximately 50 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 provide cross-selling opportunities to supplement the insulation installation business.

5 Day Chart for NYSE:IBP

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