Installed Building Products (NYSE:IBP) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Installed Building Products from “buy” to “hold.” The broader analyst consensus is also “hold,” with 10 hold, two buy, and one sell rating and an average price target of $245.36.
• IBP’s shares opened at $200.71, well below their 50-day and 200-day moving averages of $228.23 and $239.15, respectively. The stock has traded between $192.65 and $349.00 over the past year.
• The company’s latest quarterly results exceeded expectations, with $2.91 in earnings per share versus a $2.55 estimate and revenue of $777.8 million versus a $743.33 million estimate. Institutional investors own 99.61% of the stock, while an insider recently sold shares.

Installed Building Products (NYSE:IBP - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Several other brokerages also recently weighed in on IBP. Zacks Research raised Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Stifel Nicolaus initiated coverage on Installed Building Products in a report on Monday, September 14th. They set a "buy" rating and a $240.00 price target on the stock. DA Davidson raised their price target on Installed Building Products from $242.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, August 10th. Evercore set a $222.00 price objective on shares of Installed Building Products in a research note on Friday. Finally, Wells Fargo & Company decreased their target price on shares of 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. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of "Hold" and a consensus price target of $245.36.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $200.71 on Friday. The stock has a fifty day moving average price of $228.23 and a 200 day moving average price of $239.15. Installed Building Products has a 1-year low of $192.65 and a 1-year high of $349.00. The company has a market cap of $5.33 billion, a PE ratio of 21.60, a P/E/G ratio of 3.73 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 (NYSE:IBP - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The business had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. During the same period in the previous year, the firm posted $2.95 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. Sell-side analysts forecast that Installed Building Products will post 9.89 EPS for the current year.

Insider Buying and Selling at Installed Building Products

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

Institutional Investors Weigh In On Installed Building Products

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Installed Building Products in the 2nd quarter worth approximately $1,055,034,000. Giverny Capital Inc. lifted its stake in Installed Building Products by 0.9% during the fourth quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company's stock valued at $134,685,000 after purchasing an additional 4,500 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Installed Building Products by 52.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company's stock worth $92,138,000 after buying an additional 122,561 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Installed Building Products by 16.4% in the fourth quarter. TD Asset Management Inc now owns 316,532 shares of the construction company's stock valued at $82,105,000 after buying an additional 44,594 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Installed Building Products by 51.8% in the first quarter. Bank of America Corp DE now owns 298,729 shares of the construction company's stock valued at $79,208,000 after buying an additional 101,967 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile

Installed Building Products, Inc NYSE: IBP is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.

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