Installed Building Products (NYSE:IBP) Raised to “Hold” at Zacks Research

Installed Building Products (NYSE:IBP) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Installed Building Products from $285.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. cut their price objective on shares of Installed Building Products from $284.00 to $195.00 and set an “underweight” rating for the company in a research report on Wednesday, May 13th. Royal Bank Of Canada set a $242.00 target price on shares of Installed Building Products in a research note on Monday, May 11th. DA Davidson reaffirmed a “neutral” rating and issued a $242.00 target price on shares of Installed Building Products in a report on Monday, June 1st. Finally, Weiss Ratings lowered shares of Installed Building Products from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $247.67.

Installed Building Products Stock Up 0.8%

Installed Building Products stock opened at $224.31 on Monday. Installed Building Products has a twelve month low of $182.88 and a twelve month high of $349.00. The stock has a 50 day moving average of $216.06 and a two-hundred day moving average of $267.11. The company has a current ratio of 3.35, a quick ratio of 2.76 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 5.52 and a beta of 1.69.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.17). The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $668.92 million. Installed Building Products had a net margin of 8.65% and a return on equity of 42.28%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share. As a group, research analysts expect that Installed Building Products will post 9.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Lawrence A. Hilsheimer purchased 475 shares of the stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $206.22 per share, with a total value of $97,954.50. Following the purchase, the director directly owned 28,468 shares in the company, valued at $5,870,670.96. This trade represents a 1.70% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jason R. Niswonger purchased 455 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $214.80 per share, with a total value of $97,734.00. Following the acquisition, the insider directly owned 17,122 shares in the company, valued at approximately $3,677,805.60. This represents a 2.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 5,036 shares of company stock worth $1,042,807. 13.80% of the stock is owned by insiders.

Institutional Trading of Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Ausbil Investment Management Ltd boosted its holdings in Installed Building Products by 72.5% during the second quarter. Ausbil Investment Management Ltd now owns 8,026 shares of the construction company’s stock worth $1,798,000 after buying an additional 3,372 shares in the last quarter. E. Ohman J or Asset Management AB boosted its stake in shares of Installed Building Products by 27.3% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 15,711 shares of the construction company’s stock worth $3,611,000 after acquiring an additional 3,365 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Installed Building Products by 15.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 8,125 shares of the construction company’s stock worth $1,867,000 after acquiring an additional 1,080 shares during the period. Revolve Wealth Partners LLC acquired a new stake in shares of Installed Building Products in the 2nd quarter worth approximately $246,000. Finally, Beacon Investment Advisory Services Inc. raised its holdings in Installed Building Products by 27.0% during the second quarter. Beacon Investment Advisory Services Inc. now owns 15,203 shares of the construction company’s stock worth $3,494,000 after purchasing an additional 3,229 shares during the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Company Profile

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.