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

Key Points

• Wall Street Zen has upgraded Installed Building Products (NYSE:IBP) from a "hold" to a "buy" rating, indicating increased confidence in the company's future performance.
• The company reported $2.95 earnings per share for the last quarter, surpassing analysts' expectations of $2.45, with a year-over-year revenue increase of 3.1% to $760.30 million.
• Installed Building Products' stock is currently trading at approximately $249.36 and has a market capitalization of $6.81 billion, amidst varying ratings from multiple brokerages.

Installed Building Products (NYSE:IBP - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Friday.

Several other brokerages have also weighed in on IBP. Royal Bank Of Canada reiterated an "underperform" rating and set a $184.00 target price (up from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. Loop Capital lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price on the stock. in a research report on Friday, August 8th. Jefferies Financial Group increased 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. Danske downgraded shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $252.00 target price for the company. in a research report on Tuesday, August 12th. Finally, Zelman & Associates upgraded shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Installed Building Products currently has a consensus rating of "Hold" and an average price target of $217.36.

Installed Building Products Trading Up 0.3%

Installed Building Products stock traded up $0.66 during midday trading on Friday, reaching $249.36. The stock had a trading volume of 287,591 shares, compared to its average volume of 377,805. The firm's fifty day simple moving average is $248.71 and its two-hundred day simple moving average is $198.03. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 27.74 and a beta of 1.76. Installed Building Products has a twelve month low of $150.83 and a twelve month high of $280.00. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31.

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

Insider Activity

In related news, CAO Todd R. Fry sold 500 shares of the business's stock in a transaction 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 transaction, the chief accounting officer owned 6,822 shares in the company, valued at $1,755,095.94. The trade was a 6.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William Jeffrey Hire sold 6,500 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the transaction, the insider owned 37,999 shares in the company, valued at $10,096,714.29. The trade was a 14.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,655 shares of company stock worth $3,123,578 over the last quarter. Company insiders own 16.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Installed Building Products by 107.1% during the 1st quarter. GAMMA Investing LLC now owns 986 shares of the construction company's stock valued at $169,000 after purchasing an additional 510 shares during the last quarter. Fifth Third Bancorp boosted its stake in Installed Building Products by 74.6% during the 1st quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock valued at $39,000 after purchasing an additional 97 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Installed Building Products by 27.2% during the 1st quarter. Crossmark Global Holdings Inc. now owns 2,212 shares of the construction company's stock valued at $379,000 after purchasing an additional 473 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Installed Building Products by 36.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,079 shares of the construction company's stock valued at $356,000 after purchasing an additional 557 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Installed Building Products by 1.7% in the 1st quarter. Stratos Wealth Partners LTD. now owns 4,173 shares of the construction company's stock worth $716,000 after acquiring an additional 68 shares in the last quarter. Institutional investors and hedge funds 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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