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

Key Points

• StoneX upgraded Installed Building Products to Buy from Hold and set a $275 price target, implying 24.34% upside from the cited share price.
• Analyst sentiment overall remains cautious: MarketBeat reported an average Hold rating and an average price target of $233.31, with 11 Holds, two Buys, and two Sells.
• In its latest quarter, IBP’s revenue rose 3.9% year over year to $808.4 million, beating expectations, while EPS of $2.76 fell short of the $2.83 consensus.

Installed Building Products (NYSE:IBP - Get Free Report) was upgraded by investment analysts at StoneX from a "hold" rating to a "buy" rating in a research note issued on Thursday, FinViz reports. The firm presently has a $275.00 price objective on the construction company's stock. StoneX's price target suggests a potential upside of 24.34% from the company's current price.

IBP has been the topic of several other reports. The Goldman Sachs Group reissued a "buy" rating and set a $261.00 price objective on shares of Installed Building Products in a research report on Friday, November 6th. Evercore set a $222.00 target price on shares of Installed Building Products in a report on Friday, September 25th. Stifel Nicolaus downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and increased their target price for the stock from $220.00 to $225.00 in a research note on Monday. Melius Research assumed coverage on Installed Building Products in a report on Tuesday, October 6th. They set a "hold" rating and a $217.00 price target on the stock. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $233.31.

Installed Building Products Stock Performance

Shares of IBP stock traded up $11.64 during trading hours on Thursday, hitting $221.18. The stock had a trading volume of 261,290 shares, compared to its average volume of 403,180. The firm has a market capitalization of $5.88 billion, a PE ratio of 25.18, a PEG ratio of 10.55 and a beta of 1.65. Installed Building Products has a twelve month low of $176.15 and a twelve month high of $349.00. The stock's 50 day moving average is $203.03 and its 200 day moving average is $244.07. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.12 and a quick ratio of 2.54.

Installed Building Products (NYSE:IBP - Get Free Report) last announced its earnings results on Thursday, November 5th. The construction company reported $2.76 earnings per share (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 business had revenue of $808.40 million for the quarter, compared to analysts' expectations of $787.70 million. During the same quarter last year, the business posted $3.18 earnings per share. The business's revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Installed Building Products will post 9.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the transaction, the director directly owned 5,142 shares in the company, 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 legal filing with the SEC, which is available through this link. 13.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Installed Building Products in the 2nd quarter valued at approximately $1,055,034,000. Reinhart Partners LLC. purchased a new position in shares of Installed Building Products during the 3rd quarter worth approximately $87,114,000. Bank of America Corp DE acquired a new stake in shares of Installed Building Products in the 2nd quarter valued at approximately $62,418,000. Bamco Inc. NY acquired a new stake in shares of Installed Building Products in the 2nd quarter valued at approximately $45,580,000. Finally, Paralel Advisors LLC acquired a new stake in shares of Installed Building Products in the 2nd quarter valued at approximately $37,924,000. 99.61% of the stock is owned by hedge funds and other institutional investors.

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.

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