Installed Building Products (NYSE:IBP) Stock Bumped Down to Strong Sell by Zacks Research

Zacks Research cut shares of Installed Building Products (NYSE:IBP) from a hold rating to a strong sell rating in a research report released on Tuesday morning,Zacks reports.

Several other research firms have also issued reports on IBP. The Goldman Sachs Group reiterated a “buy” rating and set a $261.00 price objective on shares of Installed Building Products in a research note on Friday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Stifel Nicolaus cut shares of Installed Building Products from a “buy” rating to a “hold” rating and increased their target price for the stock from $220.00 to $225.00 in a research report on Monday. Royal Bank Of Canada cut their price target on shares of Installed Building Products from $208.00 to $194.00 and set a “sector perform” rating for the company in a report on Friday, November 6th. Finally, Wall Street Zen lowered shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, September 27th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $229.83.

Installed Building Products Trading Down 1.2%

Shares of IBP opened at $209.82 on Tuesday. Installed Building Products has a 1 year low of $176.15 and a 1 year high of $349.00. The company has a current ratio of 3.12, a quick ratio of 2.54 and a debt-to-equity ratio of 1.47. The stock has a 50 day simple moving average of $203.03 and a 200-day simple moving average of $244.07. The stock has a market cap of $5.58 billion, a PE ratio of 23.87, a PEG ratio of 10.55 and a beta of 1.65.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, November 5th. The construction company reported $2.76 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.07). The company had revenue of $808.40 million for the quarter, compared to the consensus estimate of $787.70 million. Installed Building Products had a return on equity of 39.86% and a net margin of 7.87%. Installed Building Products’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.18 EPS. On average, sell-side analysts predict that Installed Building Products will post 9.54 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.56 annualized dividend and a yield of 0.7%. Installed Building Products’s dividend payout ratio is presently 17.75%.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the transaction, the director owned 5,142 shares in the company, valued at approximately $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.80% of the company’s stock.

Institutional Trading of Installed Building Products

A number of institutional investors and hedge funds have recently modified their holdings of IBP. BlackRock Inc. acquired a new position in Installed Building Products during the second quarter valued at approximately $1,055,034,000. Reinhart Partners LLC. acquired a new stake in Installed Building Products in the third quarter worth $87,114,000. Bank of America Corp DE raised its holdings in Installed Building Products by 51.8% in the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock worth $79,208,000 after purchasing an additional 101,967 shares during the period. Bamco Inc. NY acquired a new stake in Installed Building Products in the second quarter worth $45,580,000. Finally, Paralel Advisors LLC bought a new position in shares of Installed Building Products during the second quarter worth $37,924,000. 99.61% of the stock is owned by institutional investors.

About Installed Building Products

Installed Building Products, Inc. is a U.S. building-products installation company headquartered in Columbus, Ohio. Founded in 1977, the company serves residential builders, commercial contractors, and homeowners through a network of local operating businesses across the United States. The company’s core business is installing insulation in new construction and existing buildings. Its offerings include fiberglass, cellulose, and spray-foam insulation, along with related weatherization services. Installed Building Products also installs complementary products such as garage doors, rain gutters, shower doors, and closet shelving.