Installed Building Products (NYSE:IBP) Stock Rating Upgraded by Zacks Investment Research

Installed Building Products (NYSE:IBPGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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. “

Other research analysts also recently issued research reports about the company. Jefferies Financial Group downgraded Installed Building Products from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $117.00 to $105.00 in a report on Monday, March 21st. StockNews.com assumed coverage on Installed Building Products in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Credit Suisse Group assumed coverage on Installed Building Products in a report on Tuesday, April 5th. They issued a “neutral” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on Installed Building Products from $101.00 to $88.00 and set a “neutral” rating on the stock in a report on Wednesday, April 20th. Finally, The Goldman Sachs Group decreased their price objective on Installed Building Products from $114.00 to $95.00 and set a “neutral” rating on the stock in a report on Tuesday, April 12th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $120.22.

Shares of IBP stock opened at $82.40 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.79 and a debt-to-equity ratio of 2.00. The business has a 50-day moving average price of $89.54 and a two-hundred day moving average price of $112.05. Installed Building Products has a 12-month low of $75.95 and a 12-month high of $141.43. The firm has a market cap of $2.41 billion, a P/E ratio of 20.55 and a beta of 1.77.

Installed Building Products (NYSE:IBPGet Rating) last issued its quarterly earnings results 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 for 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 company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the firm earned $1.23 EPS. As a group, research analysts expect that Installed Building Products will post 6.59 EPS for the current fiscal year.

In other news, Director Lawrence A. Hilsheimer acquired 513 shares of the stock in a transaction on Monday, February 28th. The stock was acquired at an average price of $97.30 per share, with a total value of $49,914.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.90% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in shares of Installed Building Products by 273.2% in the first quarter. First Trust Advisors LP now owns 57,557 shares of the construction company’s stock worth $2,792,000 after acquiring an additional 42,136 shares during the last quarter. Morgan Stanley increased its stake in Installed Building Products by 14.7% during the 2nd quarter. Morgan Stanley now owns 174,419 shares of the construction company’s stock valued at $21,342,000 after purchasing an additional 22,400 shares in the last quarter. SG Americas Securities LLC raised its holdings in Installed Building Products by 48.0% in the third quarter. SG Americas Securities LLC now owns 11,919 shares of the construction company’s stock worth $1,277,000 after buying an additional 3,865 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of Installed Building Products by 29.3% in the third quarter. Advisor Group Holdings Inc. now owns 7,979 shares of the construction company’s stock worth $855,000 after buying an additional 1,807 shares in the last quarter. Finally, Truist Financial Corp bought a new position in shares of Installed Building Products in the third quarter worth approximately $9,158,000. Hedge funds and other institutional investors own 98.94% of the company’s stock.

About Installed Building Products (Get Rating)

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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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