Installed Building Products (NYSE:IBP) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Installed Building Products (NYSE:IBP) from a “strong sell” to a “hold,” reflecting a more neutral stance on the stock. Overall analyst sentiment remains cautious, with 13 Hold ratings, one Buy, and one Sell.
• Several firms have lowered price targets on IBP recently, including JPMorgan, Wells Fargo, and Truist, while the consensus price target stands at $247.67. The stock’s recent average rating is “Hold.”
• The company reported mixed quarterly results, missing both earnings and revenue estimates in its latest report, with EPS of $1.79 versus $1.96 expected and revenue of $660.5 million versus $668.9 million expected. Despite the miss, insiders have been buying shares, including the CFO and COO.

Installed Building Products (NYSE:IBP - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada set a $242.00 price target on Installed Building Products in a report on Monday, May 11th. JPMorgan Chase & Co. cut their price objective on Installed Building Products from $284.00 to $195.00 and set an "underweight" rating for the company in a research report on Wednesday, May 13th. Wells Fargo & Company decreased their target price on Installed Building Products from $285.00 to $250.00 and set an "equal weight" rating on the stock in a report on Friday, May 8th. Weiss Ratings cut Installed Building Products from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Finally, Truist Financial decreased their price objective on shares of Installed Building Products from $250.00 to $200.00 and set a "hold" rating on the stock in a report on Friday, May 8th. One research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $247.67.

Installed Building Products Trading Up 0.8%

Shares of Installed Building Products stock opened at $224.31 on Monday. The stock has a market cap of $6.04 billion, a P/E ratio of 23.91, a P/E/G ratio of 5.52 and a beta of 1.69. The company has a quick ratio of 2.76, a current ratio of 3.35 and a debt-to-equity ratio of 1.56. Installed Building Products has a 12-month low of $182.88 and a 12-month high of $349.00. The business's 50 day moving average is $216.06 and its 200-day moving average is $267.11.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its earnings results on Thursday, May 7th. The construction company reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.96 by ($0.17). The firm had revenue of $660.50 million for the quarter, compared to analyst estimates of $668.92 million. Installed Building Products had a return on equity of 42.28% and a net margin of 8.65%.Installed Building Products's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.08 earnings per share. Equities research analysts predict that Installed Building Products will post 9.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Installed Building Products

In related news, CFO Michael Thomas Miller purchased 990 shares of Installed Building Products stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $200.62 per share, with a total value of $198,613.80. Following the completion of the transaction, the chief financial officer directly owned 34,209 shares of the company's stock, valued at $6,863,009.58. This represents a 2.98% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brad A. Wheeler acquired 716 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $209.13 per share, for a total transaction of $149,737.08. Following the purchase, the chief operating officer owned 14,988 shares in the company, valued at approximately $3,134,440.44. This trade represents a 5.02% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 5,036 shares of company stock valued at $1,042,807 in the last three months. Corporate insiders own 13.80% of the company's stock.

Institutional Trading of Installed Building Products

A number of institutional investors have recently modified their holdings of the stock. Danske Bank A S acquired a new position in Installed Building Products in the third quarter valued at about $25,000. NewEdge Advisors LLC grew its stake in Installed Building Products by 5,000.0% during the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company's stock worth $25,000 after buying an additional 100 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Installed Building Products in the 1st quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. increased its holdings in Installed Building Products by 700.0% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 152 shares of the construction company's stock valued at $37,000 after buying an additional 133 shares during the period. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Installed Building Products in the 4th quarter valued at approximately $43,000. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Company Profile

Installed Building Products, Inc NYSE: IBP is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.

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