Installed Building Products (NYSE:IBP) Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Installed Building Products from “hold” to “strong buy,” although the broader analyst consensus remains “hold,” with an average price target of $245.36.
• IBP reported quarterly earnings of $2.91 per share, exceeding estimates of $2.55, while revenue reached $777.8 million, up 2.3% year over year and above expectations.
• The stock opened at $192.97, near its 52-week low of $186.64, and institutional investors own a substantial 99.61% of outstanding shares.

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

Several other analysts have also recently commented on the company. Stifel Nicolaus assumed coverage on Installed Building Products in a research report on Monday, September 14th. They issued a "buy" rating and a $240.00 target price for the company. Evercore set a $222.00 price objective on Installed Building Products in a research note on Friday, September 25th. DA Davidson raised their price objective on Installed Building Products from $242.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Wall Street Zen lowered Installed Building Products from a "buy" rating to a "hold" rating in a research report on Sunday, September 27th. Finally, Wells Fargo & Company lowered their target price on Installed Building Products from $245.00 to $240.00 and set an "equal weight" rating on the stock in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $245.36.

Installed Building Products Stock Performance

Installed Building Products stock opened at $192.97 on Thursday. Installed Building Products has a fifty-two week low of $186.64 and a fifty-two week high of $349.00. The firm's 50 day simple moving average is $225.14 and its 200-day simple moving average is $235.93. The company has a debt-to-equity ratio of 1.62, a current ratio of 2.98 and a quick ratio of 2.41. The company has a market cap of $5.13 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 3.59 and a beta of 1.71.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm had revenue of $777.80 million for the quarter, compared to analysts' expectations of $743.33 million. During the same period in the previous year, the company posted $2.95 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts predict that Installed Building Products will post 9.89 EPS for the current year.

Insider Activity

In related 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 completion of the sale, the director directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of IBP. Meeder Asset Management Inc. acquired a new position in Installed Building Products during the first quarter worth $30,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Installed Building Products in the second quarter worth about $31,000. Parallel Advisors LLC boosted its stake in shares of Installed Building Products by 446.7% during the 1st quarter. Parallel Advisors LLC now owns 164 shares of the construction company's stock worth $44,000 after acquiring an additional 134 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Installed Building Products during the 2nd quarter worth about $52,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Installed Building Products by 29.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company's stock worth $67,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

Installed Building Products Company Profile

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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