Installed Building Products (NYSE:IBP) Stock Gets Downgrade from Zacks Research

Installed Building Products (NYSE:IBP) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

IBP has been the topic of a number of other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Stifel Nicolaus lowered Installed Building Products from a “buy” rating to a “hold” rating and upped their target price for the company from $220.00 to $225.00 in a report on Monday. Wells Fargo & Company dropped their price target on Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, October 16th. Royal Bank Of Canada cut their price target on Installed Building Products from $208.00 to $194.00 and set a “sector perform” rating on the stock in a report on Friday, November 6th. Finally, Evercore set a $222.00 price objective on Installed Building Products in a research report on Friday, September 25th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $229.83.

Installed Building Products Stock Down 1.2%

IBP stock opened at $209.82 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.12 and a quick ratio of 2.54. Installed Building Products has a 1-year low of $176.15 and a 1-year high of $349.00. The firm has a fifty day moving average price of $203.03 and a two-hundred day moving average price of $244.07. The firm has a market cap of $5.58 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 10.55 and a beta of 1.65.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, November 5th. The construction company reported $2.76 earnings per share for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.07). Installed Building Products had a return on equity of 39.86% and a net margin of 7.87%. The business had revenue of $808.40 million for the quarter, compared to analyst estimates of $787.70 million. During the same period last year, the company posted $3.18 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. Research analysts predict that Installed Building Products will post 9.54 EPS for the current year.

Insider Buying and Selling at Installed Building Products

In related news, Director Janet Jackson sold 1,086 shares of Installed Building Products stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director directly owned 5,142 shares in the company, valued at $1,218,962.52. The trade was a 17.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Installed Building Products

A number of hedge funds have recently bought and sold shares of IBP. Advisors Asset Management Inc. acquired a new position in shares of Installed Building Products in the third quarter worth about $1,197,000. GW&K Investment Management LLC acquired a new stake in shares of Installed Building Products during the third quarter valued at approximately $3,475,000. Boston Partners purchased a new stake in shares of Installed Building Products in the 3rd quarter valued at approximately $25,610,000. Stephens Investment Management Group LLC lifted its position in shares of Installed Building Products by 1.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 178,028 shares of the construction company’s stock valued at $34,160,000 after acquiring an additional 2,757 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Installed Building Products by 38.6% in the 3rd quarter. HighTower Advisors LLC now owns 1,665 shares of the construction company’s stock valued at $319,000 after acquiring an additional 464 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

About Installed Building Products

Installed Building Products, Inc. is a U.S. building-products installation company headquartered in Columbus, Ohio. Founded in 1977, the company serves residential builders, commercial contractors, and homeowners through a network of local operating businesses across the United States. The company’s core business is installing insulation in new construction and existing buildings. Its offerings include fiberglass, cellulose, and spray-foam insulation, along with related weatherization services. Installed Building Products also installs complementary products such as garage doors, rain gutters, shower doors, and closet shelving.