StoneX Upgrades Installed Building Products (NYSE:IBP) to Buy

Installed Building Products (NYSE:IBP) was upgraded by investment analysts at StoneX from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, FinViz reports. The brokerage currently has a $275.00 price objective on the construction company’s stock. StoneX‘s target price indicates a potential upside of 24.34% from the company’s current price.

A number of other research firms also recently issued reports on IBP. Melius Research initiated coverage on shares of Installed Building Products in a research report on Tuesday, October 6th. They set a “hold” rating and a $217.00 price target for the company. Truist Financial upped their price target on Installed Building Products from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Friday, November 6th. Zacks Research downgraded Installed Building Products from a “hold” rating to a “strong sell” rating in a research note on Tuesday. DA Davidson reduced their price objective on Installed Building Products from $250.00 to $244.00 and set a “neutral” rating for the company in a report on Monday. Finally, Wells Fargo & Company decreased their target price on Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $233.31.

Installed Building Products Price Performance

Shares of NYSE:IBP traded up $11.64 on Thursday, reaching $221.18. 261,290 shares of the company were exchanged, compared to its average volume of 403,180. The company has a current ratio of 3.12, a quick ratio of 2.54 and a debt-to-equity ratio of 1.47. Installed Building Products has a 1-year low of $176.15 and a 1-year high of $349.00. The firm has a market cap of $5.88 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 10.55 and a beta of 1.65. The company has a 50-day moving average of $203.03 and a 200-day moving average of $244.07.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, November 5th. The construction company reported $2.76 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). Installed Building Products had a return on equity of 39.86% and a net margin of 7.87%. The company had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $787.70 million. During the same period in the prior year, the firm posted $3.18 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts forecast that Installed Building Products will post 9.54 earnings per share for the current fiscal year.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director owned 5,142 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd acquired a new position in Installed Building Products in the 2nd quarter valued at about $1,180,000. Legal & General Group Plc purchased a new position in Installed Building Products in the 2nd quarter valued at about $12,305,000. Hsbc Holdings PLC acquired a new stake in shares of Installed Building Products during the 2nd quarter worth about $20,435,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Installed Building Products during the 2nd quarter worth about $1,528,000. Finally, Deutsche Bank AG acquired a new stake in shares of Installed Building Products during the 2nd quarter worth about $19,341,000. 99.61% of the stock is owned by institutional investors and hedge funds.

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.