Installed Building Products (NYSE:IBP) Stock Rated Hold in New Coverage at Melius Research

Key Points

• Melius Research initiated coverage of Installed Building Products with a Hold rating and a $217 price target, implying 13.21% upside from the prior close.
• Analyst sentiment is broadly neutral: the stock has a consensus Hold rating and a $243 average price target, based on one Strong Buy, two Buys, ten Holds and one Sell.
• Installed Building Products exceeded quarterly expectations, reporting $2.91 in earnings per share versus $2.55 expected and $777.8 million in revenue, up 2.3% year over year.

Stock analysts at Melius Research started coverage on shares of Installed Building Products (NYSE:IBP - Get Free Report) in a research note issued to investors on Tuesday, Briefing.com reports. The firm set a "hold" rating and a $217.00 price target on the construction company's stock. Melius Research's price target indicates a potential upside of 13.21% from the company's previous close.

Several other research analysts have also recently weighed in on the company. Stifel Nicolaus assumed coverage on Installed Building Products in a report on Monday, September 14th. They set a "buy" rating and a $240.00 target price on the stock. Zacks Research raised Installed Building Products from a "hold" rating to a "strong-buy" rating in a research note on Thursday, October 1st. Wall Street Zen downgraded Installed Building Products from a "buy" rating to a "hold" rating in a research report on Sunday, September 27th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Installed Building Products in a research note on Tuesday, August 18th. Finally, DA Davidson boosted their price objective on shares of Installed Building Products from $242.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Installed Building Products presently has a consensus rating of "Hold" and a consensus price target of $243.00.

Installed Building Products Trading Down 0.7%

IBP opened at $191.68 on Tuesday. Installed Building Products has a 12 month low of $186.64 and a 12 month high of $349.00. The stock has a fifty day moving average price of $224.41 and a 200-day moving average price of $234.90. The company has a current ratio of 2.98, a quick ratio of 2.41 and a debt-to-equity ratio of 1.62. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 3.59 and a beta of 1.71.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $743.33 million. During the same period in the previous year, the company earned $2.95 earnings per share. The business's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Installed Building Products will post 9.89 earnings per share for the current fiscal 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 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 transaction, the director directly owned 5,142 shares of the company's stock, valued at $1,218,962.52. The trade was a 17.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 13.80% of the company's stock.

Institutional Investors Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently modified their holdings of the company. Argent Capital Management LLC boosted its holdings in Installed Building Products by 85.0% in the third quarter. Argent Capital Management LLC now owns 1,833 shares of the construction company's stock valued at $352,000 after purchasing an additional 842 shares in the last quarter. Anchor Investment Management LLC raised its holdings in Installed Building Products by 11.7% during the second 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 in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Installed Building Products during the 2nd quarter worth approximately $1,180,000. Engineers Gate Manager LP acquired a new position in shares of Installed Building Products in the 2nd quarter valued at $695,000. Finally, Summit Financial Strategies Inc. boosted its holdings in shares of Installed Building Products by 79.2% in the 2nd quarter. Summit Financial Strategies Inc. now owns 5,189 shares of the construction company's stock valued at $1,193,000 after buying an additional 2,293 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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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