Wall Street Zen Downgrades Installed Building Products (NYSE:IBP) to Hold

Installed Building Products (NYSE:IBP) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other equities analysts have also issued reports on IBP. JPMorgan Chase & Co. restated an “underweight” rating and set a $245.00 price target on shares of Installed Building Products in a research note on Tuesday, January 13th. Royal Bank Of Canada lifted their price objective on Installed Building Products from $203.00 to $255.00 and gave the stock an “underperform” rating in a report on Friday, February 27th. Zacks Research cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Vertical Research upgraded Installed Building Products from a “sell” rating to a “hold” rating and set a $326.00 target price for the company in a research note on Friday, February 27th. Finally, Jefferies Financial Group raised their target price on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a research report on Monday, December 15th. Eleven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $257.73.

Installed Building Products Price Performance

Shares of Installed Building Products stock opened at $262.26 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.03 and a quick ratio of 2.44. The company has a market cap of $7.08 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 3.69 and a beta of 1.90. The firm has a fifty day moving average price of $304.17 and a two-hundred day moving average price of $277.03. Installed Building Products has a fifty-two week low of $150.83 and a fifty-two week high of $349.00.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, February 26th. The construction company reported $3.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.41. Installed Building Products had a net margin of 8.93% and a return on equity of 43.71%. The company had revenue of $747.50 million for the quarter, compared to the consensus estimate of $738.97 million. During the same quarter in the previous year, the firm posted $2.88 EPS. The business’s revenue was down .4% compared to the same quarter last year. Analysts expect that Installed Building Products will post 10.66 EPS for the current year.

Insider Activity

In other news, Director Janet E. Jackson sold 1,410 shares of Installed Building Products stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $293.31, for a total value of $413,567.10. Following the completion of the transaction, the director owned 5,373 shares in the company, valued at approximately $1,575,954.63. The trade was a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $314.06, for a total value of $125,624,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,727,819 shares in the company, valued at $542,638,835.14. The trade was a 18.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 16.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Installed Building Products

A number of hedge funds and other institutional investors have recently bought and sold shares of IBP. Apollon Wealth Management LLC acquired a new stake in shares of Installed Building Products in the third quarter valued at $481,000. Bayforest Capital Ltd lifted its position in Installed Building Products by 180.0% during the 3rd quarter. Bayforest Capital Ltd now owns 2,853 shares of the construction company’s stock worth $704,000 after buying an additional 1,834 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Installed Building Products by 16.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 131,850 shares of the construction company’s stock worth $32,522,000 after acquiring an additional 18,487 shares during the last quarter. Blalock Williams LLC bought a new stake in Installed Building Products during the 3rd quarter worth about $792,000. Finally, Watchtower Advisors LP increased its position in Installed Building Products by 30.4% in the 3rd quarter. Watchtower Advisors LP now owns 32,277 shares of the construction company’s stock valued at $7,961,000 after acquiring an additional 7,534 shares in the last quarter. 99.61% of the stock is owned by institutional investors and hedge funds.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.