Installed Building Products (IBP) Lifted to Buy at Zelman & Associates

Installed Building Products (NYSE:IBP) was upgraded by research analysts at Zelman & Associates from a “hold” rating to a “buy” rating in a report issued on Friday, February 16th.

A number of other research firms have also recently commented on IBP. Credit Suisse Group reiterated an “outperform” rating and issued a $85.00 target price (up from $73.00) on shares of Installed Building Products in a research note on Monday, January 22nd. They noted that the move was a valuation call. Zacks Investment Research raised shares of Installed Building Products from a “hold” rating to a “strong-buy” rating and set a $83.00 price target for the company in a research report on Thursday, February 1st. Jefferies Group assumed coverage on shares of Installed Building Products in a report on Tuesday, December 12th. They set a “hold” rating and a $69.00 target price for the company. KeyCorp reissued a “hold” rating on shares of Installed Building Products in a research note on Wednesday, November 1st. Finally, SunTrust Banks reissued a “buy” rating and issued a $65.00 price target on shares of Installed Building Products in a research note on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Installed Building Products has a consensus rating of “Buy” and a consensus target price of $70.57.

Shares of Installed Building Products (NYSE IBP) traded up $0.60 during trading on Friday, reaching $66.30. 148,841 shares of the company’s stock traded hands, compared to its average volume of 207,993. Installed Building Products has a one year low of $40.10 and a one year high of $79.40. The company has a market cap of $2,090.18, a PE ratio of 50.15 and a beta of 0.69. The company has a current ratio of 2.22, a quick ratio of 1.93 and a debt-to-equity ratio of 1.70.

In related news, CEO Jeffrey W. Edwards sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $74.25, for a total value of $14,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 504,800 shares of the company’s stock, valued at $37,481,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jay P. Elliott sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $73.50, for a total value of $220,500.00. Following the completion of the transaction, the chief operating officer now directly owns 48,312 shares of the company’s stock, valued at $3,550,932. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,000 shares of company stock worth $20,239,000. 32.90% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its holdings 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 valued at $100,000 after acquiring an additional 198 shares during the period. Nationwide Fund Advisors boosted its holdings in shares of Installed Building Products by 4.4% in the second quarter. Nationwide Fund Advisors now owns 12,210 shares of the construction company’s stock valued at $647,000 after acquiring an additional 509 shares during the period. American Century Companies Inc. boosted its holdings in shares of Installed Building Products by 0.7% in the third quarter. American Century Companies Inc. now owns 116,938 shares of the construction company’s stock valued at $7,578,000 after acquiring an additional 782 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Installed Building Products by 32.9% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock valued at $207,000 after acquiring an additional 793 shares during the period. Finally, Campbell Newman Asset Management Inc. boosted its holdings in shares of Installed Building Products by 22.7% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 4,445 shares of the construction company’s stock valued at $338,000 after acquiring an additional 821 shares during the period. 65.23% of the stock is owned by hedge funds and other institutional investors.

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Installed Building Products Company Profile

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.

Analyst Recommendations for Installed Building Products (NYSE:IBP)

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