Weiss Ratings Reiterates Hold (C+) Rating for Installed Building Products (NYSE:IBP)

Installed Building Products (NYSE:IBP - Get Free Report)'s stock had its "hold (c+)" rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on IBP. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Loop Capital cut shares of Installed Building Products from a "buy" rating to a "hold" rating and set a $255.00 target price for the company. in a research note on Friday, August 8th. Danske cut 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 note on Tuesday, August 12th. Evercore ISI set a $240.00 target price on shares of Installed Building Products in a research note on Tuesday. Finally, Wall Street Zen cut shares of Installed Building Products from a "buy" rating to a "hold" rating in a research note on Saturday, October 4th. Two analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $220.45.

Installed Building Products Stock Up 3.3%

IBP stock opened at $242.98 on Wednesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.85 and a quick ratio of 2.31. The company has a 50-day moving average of $255.24 and a two-hundred day moving average of $201.93. Installed Building Products has a 52-week low of $150.83 and a 52-week high of $280.00. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 27.03 and a beta of 1.83.

Installed Building Products (NYSE:IBP - Get Free Report) last released its earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $760.30 million during the quarter, compared to analysts' expectations of $711.37 million. During the same quarter last year, the company earned $2.84 earnings per share. The firm's revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that Installed Building Products will post 10.66 EPS for the current year.

Insider Buying and Selling at Installed Building Products

In other news, COO Brad A. Wheeler sold 3,186 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $275.29, for a total transaction of $877,073.94. Following the completion of the sale, the chief operating officer owned 8,736 shares of the company's stock, valued at approximately $2,404,933.44. This trade represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the sale, the insider directly owned 37,999 shares of the company's stock, valued at approximately $10,096,714.29. The trade was a 14.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by company insiders.

Institutional Trading of Installed Building Products

Hedge funds have recently modified their holdings of the company. Curio Wealth LLC increased its holdings in shares of Installed Building Products by 16,800.0% during the second quarter. Curio Wealth LLC now owns 169 shares of the construction company's stock worth $30,000 after buying an additional 168 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Installed Building Products by 142.1% during the first quarter. UMB Bank n.a. now owns 184 shares of the construction company's stock worth $32,000 after buying an additional 108 shares in the last quarter. SRH Advisors LLC increased its holdings in shares of Installed Building Products by 70.8% during the second quarter. SRH Advisors LLC now owns 205 shares of the construction company's stock worth $37,000 after buying an additional 85 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company's stock worth $39,000 after buying an additional 97 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Installed Building Products by 14.0% during the second quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company's stock worth $78,000 after buying an additional 54 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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