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

Wall Street Zen cut shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a report issued on Sunday.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group increased their price target on Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $245.00 target price on shares of Installed Building Products in a report on Tuesday, January 13th. Vertical Research upgraded Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 target price for the company in a research report on Friday, February 27th. Benchmark lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company reduced their price target on Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Ten investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Installed Building Products presently has an average rating of “Reduce” and a consensus price target of $265.20.

Installed Building Products Price Performance

IBP stock opened at $265.12 on Friday. The company has a 50 day simple moving average of $302.42 and a 200 day simple moving average of $276.98. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 3.62 and a beta of 1.90. Installed Building Products has a 1 year low of $150.83 and a 1 year high of $349.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.03 and a quick ratio of 2.44.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, February 26th. The construction company reported $3.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.41. The firm had revenue of $747.50 million for the quarter, compared to analyst estimates of $738.97 million. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $2.88 earnings per share. Research analysts anticipate that Installed Building Products will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a dividend yield of 63.0%. Installed Building Products’s payout ratio is currently 16.03%.

Insiders Place Their Bets

In other Installed Building Products news, CEO Jeffrey W. Edwards sold 400,000 shares of Installed Building Products stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the transaction, the chief executive officer directly owned 1,727,819 shares of the company’s stock, valued at approximately $542,638,835.14. The trade was a 18.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet E. Jackson sold 1,410 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the sale, the director owned 5,373 shares in the company, valued at $1,575,954.63. This trade represents a 20.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Installed Building Products by 3.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after acquiring an additional 486 shares during the last quarter. United Services Automobile Association bought a new position in Installed Building Products during the 1st quarter worth approximately $263,000. Jane Street Group LLC raised its holdings in Installed Building Products by 270.0% during the 1st quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after purchasing an additional 12,545 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Installed Building Products in the 2nd quarter worth approximately $272,000. Finally, Legal & General Group Plc lifted its position in shares of Installed Building Products by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 70,102 shares of the construction company’s stock worth $12,641,000 after purchasing an additional 879 shares during the period. 99.61% of the stock is currently owned by institutional investors.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.