Installed Building Products (NYSE:IBP) Earns “Underweight” Rating from JPMorgan Chase & Co.

Installed Building Products (NYSE:IBP)‘s stock had its “underweight” rating restated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $245.00 price target on the construction company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 19.18% from the stock’s previous close.

Several other brokerages have also issued reports on IBP. Royal Bank Of Canada lifted their price target on Installed Building Products from $184.00 to $203.00 and gave the company an “underperform” rating in a research note on Thursday, November 6th. Zacks Research raised Installed Building Products from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Installed Building Products in a research note on Monday, December 29th. Wall Street Zen raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Wells Fargo & Company began coverage on shares of Installed Building Products in a report on Monday, November 17th. They set an “equal weight” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $227.91.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $303.15 on Tuesday. The firm has a 50 day moving average of $264.59 and a 200-day moving average of $248.62. Installed Building Products has a 12 month low of $150.83 and a 12 month high of $304.32. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $8.22 billion, a PE ratio of 32.63, a PEG ratio of 5.47 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The business had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. During the same period last year, the firm posted $2.85 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Installed Building Products will post 10.66 EPS for the current fiscal year.

Insider Activity at Installed Building Products

In related news, insider William Jeffrey Hire sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $251.63, for a total value of $1,258,150.00. Following the completion of the transaction, the insider owned 32,999 shares in the company, valued at $8,303,538.37. This trade represents a 13.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael H. Thomas sold 2,001 shares of Installed Building Products stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total transaction of $536,828.28. Following the sale, the director owned 8,373 shares in the company, valued at approximately $2,246,308.44. This represents a 19.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 16.20% of the company’s stock.

Institutional Trading of Installed Building Products

Institutional investors and hedge funds have recently bought and sold shares of the stock. Danske Bank A S acquired a new position in Installed Building Products during the 3rd quarter worth about $25,000. NewEdge Advisors LLC increased its stake in shares of Installed Building Products by 5,000.0% in the third quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock valued at $25,000 after buying an additional 100 shares during the period. Curio Wealth LLC raised its position in shares of Installed Building Products by 16,800.0% during the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after acquiring an additional 168 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Installed Building Products in the third quarter worth approximately $33,000. Finally, SRH Advisors LLC boosted its holdings in Installed Building Products by 70.8% in the second quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock valued at $37,000 after acquiring an additional 85 shares during the last quarter. 99.61% of the stock is currently 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.