Installed Building Products (NYSE:IBP) Cut to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen lowered shares of Installed Building Products (NYSE:IBP – Free Report) from a buy rating to a hold rating in a report published on Sunday morning,Wall Street Zen reports.

A number of other research firms have also recently issued reports on IBP. Wells Fargo & Company decreased their price target on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, September 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research report 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. Zacks Research raised Installed Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Stifel Nicolaus initiated coverage on Installed Building Products in a research report on Monday, September 14th. They issued a “buy” rating and a $240.00 price target on the stock. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $245.36.

Check Out Our Latest Research Report on IBP

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $193.90 on Friday. The firm has a fifty day simple moving average of $227.11 and a 200-day simple moving average of $237.45. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. Installed Building Products has a 1-year low of $191.90 and a 1-year high of $349.00. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 20.87, a PEG ratio of 3.65 and a beta of 1.71.

Installed Building Products (NYSE:IBP – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.36. The business had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. Installed Building Products’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 EPS. On average, sell-side analysts expect that Installed Building Products will post 9.89 earnings per share for the current year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.8%. Installed Building Products’s payout ratio is presently 16.79%.

Insider Transactions at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This represents a 17.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in shares of Installed Building Products in the 1st quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new stake in Installed Building Products during the 2nd quarter valued at $31,000. Parallel Advisors LLC raised its position in Installed Building Products by 446.7% in the 1st quarter. Parallel Advisors LLC now owns 164 shares of the construction company’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Installed Building Products in the 2nd quarter valued at $52,000. Finally, Rockefeller Capital Management L.P. boosted its stake 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 worth $67,000 after purchasing an additional 59 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Company Profile

(Get Free Report)

Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.

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