Vertical Research Begins Coverage on Installed Building Products (NYSE:IBP)

Key Points

• Vertical Research has initiated coverage on Installed Building Products (NYSE: IBP) with a "sell" rating, reflecting a cautious outlook on the construction company’s stock.
• Installed Building Products reported a $2.95 EPS for the recent quarter, surpassing analysts' expectations and showing a 3.1% year-over-year revenue increase.
• Analysts' consensus on Installed Building Products indicates a rating of "Reduce" with an average price target of $220.45, amid a mixed sentiment from investment firms.

Stock analysts at Vertical Research initiated coverage on shares of Installed Building Products (NYSE:IBP - Get Free Report) in a research report issued on Monday. The firm set a "sell" rating on the construction company's stock.

IBP has been the topic of several other reports. Danske lowered Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price on the stock. in a research report on Tuesday, August 12th. Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. Weiss Ratings restated a "hold (c+)" rating on shares of Installed Building Products in a report on Wednesday, October 8th. DA Davidson lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and raised their price objective for the stock from $225.00 to $252.00 in a research note on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $220.45.

Installed Building Products Trading Up 1.3%

NYSE IBP traded up $3.35 during mid-day trading on Monday, reaching $260.35. 214,753 shares of the stock were exchanged, compared to its average volume of 431,280. Installed Building Products has a 1-year low of $150.83 and a 1-year high of $280.00. The stock has a market capitalization of $7.12 billion, a PE ratio of 28.96 and a beta of 1.83. The business's fifty day simple moving average is $258.89 and its 200 day simple moving average is $206.04. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85.

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

Insider Activity

In other Installed Building Products news, Director Janet E. Jackson sold 1,469 shares of the company'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 value of $390,754.00. Following the completion of the transaction, the director owned 6,873 shares of the company's stock, valued at $1,828,218. This represents a 17.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Todd R. Fry sold 500 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $257.27, for a total value of $128,635.00. Following the completion of the transaction, the chief accounting officer directly owned 6,822 shares of the company's stock, valued at approximately $1,755,095.94. This trade represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,655 shares of company stock valued at $3,123,578 in the last quarter. 16.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Installed Building Products

Several institutional investors have recently made changes to their positions in IBP. State of Wyoming lifted its stake in shares of Installed Building Products by 5.1% in the 2nd quarter. State of Wyoming now owns 1,101 shares of the construction company's stock valued at $199,000 after purchasing an additional 53 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Installed Building Products by 14.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company's stock valued at $78,000 after acquiring an additional 54 shares during the period. Farther Finance Advisors LLC raised its stake 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 buying an additional 54 shares during the period. Osaic Holdings Inc. boosted its holdings in Installed Building Products by 0.8% in the second quarter. Osaic Holdings Inc. now owns 7,524 shares of the construction company's stock worth $1,357,000 after acquiring an additional 57 shares in the last quarter. Finally, Inspire Advisors LLC increased its holdings in shares of Installed Building Products by 1.3% during the second quarter. Inspire Advisors LLC now owns 4,844 shares of the construction company's stock valued at $874,000 after acquiring an additional 61 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

About Installed Building Products

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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