Wall Street Zen Upgrades Installed Building Products (NYSE:IBP) to "Buy"

Key Points

• Wall Street Zen upgraded Installed Building Products to “Buy” from “Hold,” although the broader analyst consensus remains “Hold,” with an average price target of $247.55.
• IBP shares opened at $197.51, near their 52-week low of $193.11 and below the 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $2.91 in adjusted earnings per share versus the $2.55 consensus and revenue of $777.8 million, up 2.3% year over year.

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

IBP has been the topic of several other reports. DA Davidson lifted their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Stifel Nicolaus assumed coverage on Installed Building Products in a report on Monday. They set a "buy" rating and a $240.00 target price on the stock. Evercore set a $246.00 price target on Installed Building Products in a research report on Friday, August 7th. Wells Fargo & Company lowered their price target on Installed Building Products from $245.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Friday, September 11th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Installed Building Products in a report on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $247.55.

Installed Building Products Stock Down 0.8%

NYSE:IBP opened at $197.51 on Friday. The stock has a 50-day simple moving average of $230.74 and a 200 day simple moving average of $243.24. Installed Building Products has a 52-week low of $193.11 and a 52-week high of $349.00. The company has a market cap of $5.25 billion, a PE ratio of 21.26, a PEG ratio of 3.71 and a beta of 1.71. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98.

Installed Building Products (NYSE:IBP - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.36. The firm had revenue of $777.80 million during the quarter, compared to the consensus estimate of $743.33 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The business's revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.95 EPS. On average, sell-side analysts expect that Installed Building Products will post 9.89 EPS for the current fiscal year.

Insiders Place Their Bets

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 sale, the director owned 5,142 shares in the company, valued at $1,218,962.52. The trade was a 17.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.80% of the stock is owned by corporate insiders.

Institutional Trading of Installed Building Products

A number of hedge funds have recently made changes to their positions in IBP. BlackRock Inc. bought a new position in Installed Building Products in the 2nd quarter valued at approximately $1,055,034,000. Giverny Capital Inc. lifted its holdings in shares of Installed Building Products by 0.9% during the fourth quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company's stock worth $134,685,000 after purchasing an additional 4,500 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Installed Building Products by 52.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company's stock worth $92,138,000 after purchasing an additional 122,561 shares during the period. TD Asset Management Inc grew its stake 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 worth $82,105,000 after purchasing an additional 44,594 shares during the last quarter. Finally, Bank of America Corp DE grew its stake 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 worth $79,208,000 after purchasing an additional 101,967 shares during 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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