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

Installed Building Products (NYSE:IBP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “

A number of other analysts also recently issued reports on the company. SunTrust Banks raised their price target on Installed Building Products from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Nomura raised their price target on 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 raised their price target on 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, Royal Bank of Canada set a $50.00 price target on Installed Building Products and gave the stock a “hold” rating in a research report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Installed Building Products currently has a consensus rating of “Hold” and a consensus price target of $47.97.

IBP traded down $0.50 during trading on Thursday, reaching $55.44. The company had a trading volume of 111,579 shares, compared to its average volume of 186,808. The stock has a market cap of $1.67 billion, a P/E ratio of 20.76, a PEG ratio of 1.17 and a beta of 1.23. The business has a 50 day simple moving average of $55.26 and a 200-day simple moving average of $50.98. Installed Building Products has a 52 week low of $29.24 and a 52 week high of $59.93. The company has a quick ratio of 1.91, a current ratio of 2.24 and a debt-to-equity ratio of 2.44.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $371.80 million during the quarter, compared to the consensus estimate of $367.03 million. Installed Building Products had a return on equity of 43.59% and a net margin of 4.22%. Installed Building Products’s revenue was up 11.8% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. As a group, equities research analysts expect that Installed Building Products will post 2.98 EPS for the current fiscal year.

In other news, Director Vikas Verma sold 10,000 shares of Installed Building Products stock in a transaction on Monday, June 10th. The stock was sold at an average price of $55.00, for a total transaction of $550,000.00. Following the completion of the sale, the director now directly owns 201,935 shares in the company, valued at $11,106,425. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Thomas Miller sold 5,053 shares of Installed Building Products stock in a transaction on Friday, July 12th. The stock was sold at an average price of $57.52, for a total value of $290,648.56. Following the sale, the chief financial officer now owns 30,920 shares of the company’s stock, valued at $1,778,518.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,457 shares of company stock valued at $6,307,749. Corporate insiders own 25.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in IBP. Norges Bank bought a new stake in shares of Installed Building Products during the fourth quarter worth $5,978,000. Nuveen Asset Management LLC purchased a new position in shares of Installed Building Products during the second quarter valued at $8,511,000. Bamco Inc. NY increased its stake in shares of Installed Building Products by 9.1% during the second 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 during the period. Allianz Asset Management GmbH purchased a new position in shares of Installed Building Products during the second quarter valued at $4,974,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of Installed Building Products during the second quarter valued at $4,888,000. Institutional investors and hedge funds 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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