Installed Building Products (NYSE:IBP) Stock Rating Lowered by Zacks Research

by · The Cerbat Gem

Installed Building Products (NYSE:IBP – Get Free Report) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

A number of other equities analysts have also commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. DA Davidson increased their target price on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, September 27th. Melius Research started coverage on Installed Building Products in a report on Tuesday, October 6th. They issued a “hold” rating and a $217.00 target price on the stock. Finally, Truist Financial dropped their price target on Installed Building Products from $200.00 to $160.00 and set a “hold” rating on the stock in a research report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $234.50.

Read Our Latest Stock Report on IBP

Installed Building Products Trading Up 1.7%

Installed Building Products stock opened at $188.68 on Monday. Installed Building Products has a 12 month low of $178.54 and a 12 month high of $349.00. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The stock has a market cap of $5.02 billion, a P/E ratio of 20.31, a P/E/G ratio of 8.29 and a beta of 1.71. The company’s fifty day simple moving average is $219.21 and its 200-day simple moving average is $231.44.

Installed Building Products (NYSE:IBP – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm had revenue of $777.80 million for the quarter, compared to analyst estimates of $743.33 million. During the same quarter last year, the firm earned $2.95 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, sell-side analysts forecast that Installed Building Products will post 9.86 EPS for the current fiscal year.

Insider Activity at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the sale, the director owned 5,142 shares of the company’s stock, valued at $1,218,962.52. The trade was a 17.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Abel Hall LLC boosted its position in shares of Installed Building Products by 2.8% in the 1st quarter. Abel Hall LLC now owns 1,289 shares of the construction company’s stock worth $342,000 after purchasing an additional 35 shares during the last quarter. Petros Family Wealth LLC grew its stake in shares of Installed Building Products by 4.6% during the first quarter. Petros Family Wealth LLC now owns 905 shares of the construction company’s stock worth $240,000 after purchasing an additional 40 shares during the period. Lazard Asset Management LLC increased its holdings in Installed Building Products by 5.0% in the first quarter. Lazard Asset Management LLC now owns 1,070 shares of the construction company’s stock valued at $284,000 after purchasing an additional 51 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in Installed Building Products by 29.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock valued at $67,000 after purchasing an additional 59 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in Installed Building Products by 2.6% in the first quarter. Glenmede Trust Co. NA now owns 2,537 shares of the construction company’s stock valued at $673,000 after buying an additional 64 shares during the period. Institutional investors own 99.61% of the company’s stock.

About Installed Building Products

(Get Free Report)

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.

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