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

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Installed Building Products (NYSE:IBP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, 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. “

IBP has been the topic of a number of other reports. Royal Bank of Canada set a $50.00 target price on shares of Installed Building Products and gave the stock a “hold” rating in a research report on Friday, May 3rd. Nomura upped their target price on shares of Installed Building Products from $50.00 to $52.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Deutsche Bank upped their target price on shares of Installed Building Products from $47.00 to $55.00 and gave the stock a “positive” rating in a research report on Monday, May 6th. Finally, SunTrust Banks upped their target price on shares of Installed Building Products from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $47.97.

Installed Building Products stock traded down $0.50 during mid-day trading on Thursday, reaching $55.44. 111,579 shares of the company traded hands, compared to its average volume of 186,808. The company has a debt-to-equity ratio of 2.44, a current ratio of 2.24 and a quick ratio of 1.91. The firm’s 50 day moving average price is $55.26 and its 200 day moving average price is $50.98. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.17 and a beta of 1.23. Installed Building Products has a 52-week low of $29.24 and a 52-week high of $59.93.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, August 8th. The construction company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.03. The business had revenue of $371.80 million for the quarter, compared to the consensus estimate of $367.03 million. Installed Building Products had a net margin of 4.22% and a return on equity of 43.59%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. On average, sell-side analysts anticipate that Installed Building Products will post 2.98 EPS for the current year.

In related news, Director Vikas Verma sold 40,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $57.50, for a total value of $2,300,000.00. Following the transaction, the director now owns 191,935 shares in the company, valued at approximately $11,036,262.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Thomas Miller sold 5,053 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $57.52, for a total transaction of $290,648.56. Following the completion of the transaction, the chief financial officer now owns 30,920 shares in the company, valued at approximately $1,778,518.40. The disclosure for this sale can be found here. Insiders sold a total of 112,457 shares of company stock worth $6,307,749 over the last ninety days. Insiders own 25.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Bamco Inc. NY grew its holdings in Installed Building Products by 9.1% during the 2nd quarter. Bamco Inc. NY now owns 1,636,712 shares of the construction company’s stock valued at $96,926,000 after buying an additional 136,712 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in Installed Building Products during the 2nd quarter valued at approximately $8,511,000. UBS Asset Management Americas Inc. grew its holdings in Installed Building Products by 14.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,441 shares of the construction company’s stock valued at $1,092,000 after buying an additional 2,306 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Installed Building Products during the 2nd quarter valued at approximately $1,391,000. Finally, Morgan Stanley grew its holdings in Installed Building Products by 79.0% during the 2nd quarter. Morgan Stanley now owns 143,726 shares of the construction company’s stock valued at $8,512,000 after buying an additional 63,450 shares in the last quarter. Institutional investors own 70.33% 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 continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

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