Zacks Investment Research Upgrades Installed Building Products (NYSE:IBP) to “Hold”

Installed Building Products (NYSE:IBPGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “

Several other analysts also recently issued reports on IBP. Truist Financial decreased their price objective on shares of Installed Building Products from $150.00 to $135.00 in a research note on Monday, February 28th. JPMorgan Chase & Co. decreased their price objective on shares of Installed Building Products from $127.00 to $101.00 and set a “neutral” rating for the company in a research note on Wednesday, March 30th. StockNews.com initiated coverage on shares of Installed Building Products in a research note on Thursday, March 31st. They set a “hold” rating for the company. Jefferies Financial Group downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating and decreased their price target for the company from $117.00 to $105.00 in a research note on Monday, March 21st. Finally, Zelman & Associates raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a research note on Thursday, December 23rd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $121.67.

NYSE IBP traded up $1.17 during trading on Wednesday, hitting $80.55. The stock had a trading volume of 197,067 shares, compared to its average volume of 226,261. The company has a debt-to-equity ratio of 2.00, a quick ratio of 2.33 and a current ratio of 2.79. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 20.09 and a beta of 1.87. Installed Building Products has a one year low of $75.95 and a one year high of $141.43. The stock has a 50 day simple moving average of $96.34 and a 200 day simple moving average of $114.71.

Installed Building Products (NYSE:IBPGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The construction company reported $1.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.53 by ($0.11). The firm had revenue of $533.72 million during the quarter, compared to the consensus estimate of $520.69 million. Installed Building Products had a return on equity of 42.34% and a net margin of 6.03%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 EPS. On average, sell-side analysts predict that Installed Building Products will post 6.59 EPS for the current year.

In other Installed Building Products news, Director Lawrence A. Hilsheimer acquired 513 shares of the business’s stock in a transaction that occurred on Monday, February 28th. The shares were bought at an average cost of $97.30 per share, with a total value of $49,914.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 20.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Installed Building Products by 1.2% in the third quarter. Geode Capital Management LLC now owns 394,917 shares of the construction company’s stock worth $42,315,000 after purchasing an additional 4,574 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Installed Building Products by 29.3% in the third quarter. Fisher Asset Management LLC now owns 28,346 shares of the construction company’s stock worth $3,037,000 after acquiring an additional 6,428 shares during the period. Yousif Capital Management LLC acquired a new position in shares of Installed Building Products in the fourth quarter worth about $3,140,000. Tudor Investment Corp Et Al purchased a new stake in shares of Installed Building Products during the third quarter worth about $676,000. Finally, US Bancorp DE increased its stake in shares of Installed Building Products by 15.9% during the third quarter. US Bancorp DE now owns 11,752 shares of the construction company’s stock worth $1,259,000 after purchasing an additional 1,616 shares in the last quarter. 79.42% of the stock is currently owned by institutional investors and hedge funds.

Installed Building Products Company Profile (Get Rating)

Installed Building Products, Inc engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.

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