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

Key Points

• Installed Building Products has been upgraded to a "buy" rating from a "hold" rating by Wall Street Zen, signaling a positive outlook for the stock.
• Jefferies Financial Group raised its price target on Installed Building Products from $175.00 to $225.00, indicating increased confidence in the company's performance.
• The company reported strong quarterly earnings of $2.95 per share, exceeding analysts' estimates of $2.45, alongside a revenue of $760.30 million for the quarter.

Installed Building Products (NYSE:IBP - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other brokerages have also commented on IBP. Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $175.00 to $225.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Vertical Research initiated coverage on shares of Installed Building Products in a research report on Monday, October 20th. They issued a "sell" rating on the stock. Loop Capital downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 price target on the stock. in a research note on Friday, August 8th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Installed Building Products in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $220.45.

Installed Building Products Trading Up 0.0%

Shares of NYSE IBP opened at $267.43 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. The company has a market cap of $7.31 billion, a PE ratio of 29.75 and a beta of 1.83. The company has a 50-day moving average of $258.90 and a two-hundred day moving average of $208.91. Installed Building Products has a 1-year low of $150.83 and a 1-year high of $280.00.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.45 by $0.50. The business had revenue of $760.30 million during the quarter, compared to the consensus estimate of $711.37 million. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. Installed Building Products's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.84 earnings per share. As a group, equities analysts expect that Installed Building Products will post 10.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Installed Building Products

In other Installed Building Products news, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $257.27, for a total transaction of $128,635.00. Following the completion of the transaction, the chief accounting officer owned 6,822 shares in the company, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Janet E. Jackson sold 1,469 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total transaction of $390,754.00. Following the transaction, the director owned 6,873 shares of the company's stock, valued at approximately $1,828,218. The trade was a 17.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,655 shares of company stock worth $3,123,578 in the last 90 days. Corporate insiders own 16.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IBP. Curio Wealth LLC raised its holdings in Installed Building Products by 16,800.0% during the 2nd quarter. Curio Wealth LLC now owns 169 shares of the construction company's stock worth $30,000 after purchasing an additional 168 shares during the last quarter. SRH Advisors LLC raised its holdings in Installed Building Products by 70.8% during the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company's stock worth $37,000 after purchasing an additional 85 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Installed Building Products during the 3rd quarter worth approximately $42,000. Farther Finance Advisors LLC raised its holdings in Installed Building Products by 31.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 224 shares of the construction company's stock worth $55,000 after purchasing an additional 54 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Installed Building Products by 14.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company's stock worth $78,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 99.61% of the company's stock.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.

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