Installed Building Products (NYSE:IBP) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Installed Building Products to “Hold” from “Strong Buy.” The broader analyst consensus is also “Hold,” with 11 hold ratings, two buys, one sell, and an average price target of $234.50.
• IBP shares opened at $188.68, near the lower end of their 52-week range of $178.54 to $349.00. The stock’s 50-day and 200-day moving averages were $219.21 and $231.44, respectively.
• The company exceeded quarterly expectations, reporting $2.91 in EPS versus the $2.55 consensus and revenue of $777.8 million versus $743.33 million expected. Revenue increased 2.3% year over year, while institutional investors owned 99.61% of the stock.

Installed Building Products (NYSE:IBP - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Monday, Zacks reports.

Other analysts have also issued research reports about the company. Melius Research began coverage on Installed Building Products in a report on Tuesday, October 6th. They issued a "hold" rating and a $217.00 price target for the company. Truist Financial reduced their price objective on Installed Building Products from $200.00 to $160.00 and set a "hold" rating on the stock in a report on Thursday, October 8th. Wells Fargo & Company decreased their target price on Installed Building Products from $245.00 to $240.00 and set an "equal weight" rating for the company in a research report on Friday, September 11th. Royal Bank Of Canada lowered their target price on Installed Building Products from $228.00 to $208.00 and set a "sector perform" rating for the company in a report on Wednesday, October 7th. Finally, DA Davidson upped their target price on Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Installed Building Products has an average rating of "Hold" and an average target price of $234.50.

Installed Building Products Price Performance

Installed Building Products stock opened at $188.68 on Monday. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 8.29 and a beta of 1.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. Installed Building Products has a 1 year low of $178.54 and a 1 year high of $349.00. The firm has a 50-day moving average of $219.21 and a two-hundred day moving average of $231.44.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its earnings results on Thursday, August 6th. The construction company reported $2.91 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.36. The business had revenue of $777.80 million for the quarter, compared to the consensus estimate of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.95 EPS. On average, research analysts forecast that Installed Building Products will post 9.86 earnings per share for the current year.

Insider Transactions at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the transaction, the director owned 5,142 shares of the company's stock, valued at $1,218,962.52. The trade was a 17.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 13.80% of the stock is currently owned by insiders.

Institutional Trading of Installed Building Products

Several hedge funds and other institutional investors have recently bought and sold shares of IBP. Reinhart Partners LLC. purchased a new position in shares of Installed Building Products in the 3rd quarter valued at $87,114,000. Monument Capital Management raised its position in shares of Installed Building Products by 26.9% in the 3rd quarter. Monument Capital Management now owns 1,445 shares of the construction company's stock worth $277,000 after acquiring an additional 306 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Installed Building Products by 5.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,465 shares of the construction company's stock worth $281,000 after acquiring an additional 78 shares in the last quarter. Argent Capital Management LLC lifted its stake in shares of Installed Building Products by 85.0% during the 3rd quarter. Argent Capital Management LLC now owns 1,833 shares of the construction company's stock worth $352,000 after purchasing an additional 842 shares during the last quarter. Finally, Anchor Investment Management LLC lifted its stake in shares of Installed Building Products by 11.7% during the 2nd quarter. Anchor Investment Management LLC now owns 1,340 shares of the construction company's stock worth $308,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

About Installed Building Products

Installed Building Products, Inc NYSE: IBP is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.

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