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

Wall Street Zen downgraded shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research note published on Saturday morning.

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $184.00 target price (up from $145.00) on shares of Installed Building Products in a research report on Thursday, August 7th. DA Davidson cut shares of Installed Building Products from a “buy” rating to a “hold” rating and increased their price objective for the company from $225.00 to $252.00 in a research note on Tuesday, August 12th. Zelman & Associates raised shares of Installed Building Products from an “underperform” rating to a “neutral” rating in a report on Friday, August 8th. Zacks Research raised shares of Installed Building Products from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 14th. Finally, Danske lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 price target for the company. in a research report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $217.36.

Installed Building Products Stock Down 1.2%

NYSE IBP opened at $239.54 on Friday. Installed Building Products has a twelve month low of $150.83 and a twelve month high of $280.00. The stock has a market cap of $6.55 billion, a PE ratio of 26.65 and a beta of 1.83. The firm has a 50-day simple moving average of $253.90 and a 200 day simple moving average of $201.42. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.45 by $0.50. Installed Building Products had a return on equity of 60.27% and a net margin of 8.45%.The firm had revenue of $760.30 million during the quarter, compared to analysts’ expectations of $711.37 million. During the same quarter in the prior year, the firm posted $2.84 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. On average, research analysts forecast that Installed Building Products will post 10.66 EPS for the current year.

Installed Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. Installed Building Products’s dividend payout ratio (DPR) is presently 16.46%.

Insider Activity

In other Installed Building Products news, Director Janet E. Jackson sold 1,469 shares of Installed Building Products stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total value of $390,754.00. Following the completion of the transaction, the director owned 6,873 shares in the company, valued at approximately $1,828,218. The trade was a 17.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William Jeffrey Hire sold 6,500 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $265.71, for a total value of $1,727,115.00. Following the completion of the transaction, the insider directly owned 37,999 shares in the company, valued at approximately $10,096,714.29. This represents a 14.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Installed Building Products by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company’s stock valued at $458,024,000 after purchasing an additional 34,512 shares during the period. Eminence Capital LP raised its stake in shares of Installed Building Products by 48.5% during the second quarter. Eminence Capital LP now owns 945,101 shares of the construction company’s stock worth $170,421,000 after buying an additional 308,717 shares during the last quarter. Timucuan Asset Management Inc. FL lifted its holdings in Installed Building Products by 73.2% in the second quarter. Timucuan Asset Management Inc. FL now owns 866,577 shares of the construction company’s stock valued at $156,261,000 after buying an additional 366,250 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Installed Building Products by 11.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 593,496 shares of the construction company’s stock valued at $107,019,000 after acquiring an additional 63,315 shares during the last quarter. Finally, Giverny Capital Inc. grew its holdings in Installed Building Products by 1.3% during the 2nd quarter. Giverny Capital Inc. now owns 514,459 shares of the construction company’s stock worth $92,767,000 after acquiring an additional 6,386 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

About Installed Building Products

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 United States. It operates through Installation, Distribution, and Manufacturing operation segments.