Installed Building Products (NYSE:IBP) Stock Rating Upgraded by Wall Street Zen

Installed Building Products (NYSE:IBP) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a research note on Tuesday, August 18th. DA Davidson boosted their price target on Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Stifel Nicolaus started coverage on Installed Building Products in a report on Monday, September 14th. They issued a “buy” rating and a $240.00 price objective on the stock. Wells Fargo & Company lowered their price objective on Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Friday, September 11th. Finally, Evercore set a $246.00 target price on Installed Building Products in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $247.55.

Installed Building Products Stock Performance

Shares of IBP stock opened at $197.51 on Friday. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 3.68 and a beta of 1.71. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98. The company has a 50-day simple moving average of $230.74 and a 200 day simple moving average of $242.65. Installed Building Products has a 52 week low of $193.11 and a 52 week high of $349.00.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.36. The firm had revenue of $777.80 million for the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.95 EPS. On average, sell-side analysts predict that Installed Building Products will post 9.89 earnings per share for the current year.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the transaction, the director owned 5,142 shares in the company, valued at $1,218,962.52. This trade represents a 17.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.80% of the stock is owned by corporate insiders.

Institutional Trading of Installed Building Products

Large investors have recently modified their holdings of the stock. Anchor Investment Management LLC lifted its position in Installed Building Products by 11.7% during the second quarter. Anchor Investment Management LLC now owns 1,340 shares of the construction company’s stock worth $308,000 after purchasing an additional 140 shares during the period. WINTON GROUP Ltd bought a new position in Installed Building Products in the 2nd quarter valued at about $1,180,000. Engineers Gate Manager LP acquired a new position in shares of Installed Building Products in the 2nd quarter valued at approximately $695,000. Summit Financial Strategies Inc. raised its position in shares of Installed Building Products by 79.2% in the 2nd quarter. Summit Financial Strategies Inc. now owns 5,189 shares of the construction company’s stock valued at $1,193,000 after buying an additional 2,293 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its holdings in shares of Installed Building Products by 27.0% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 15,203 shares of the construction company’s stock worth $3,494,000 after acquiring an additional 3,229 shares during the period. 99.61% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a Columbus, Ohio-based installer of insulation and complementary building products. The company serves residential, commercial and industrial construction markets, with a primary focus on installation services rather than manufacturing.

Its offerings include fiberglass, cellulose and spray foam insulation, as well as related products and services such as fireproofing, garage doors, rain gutters, closet shelving, shower doors and mirrors. Installed Building Products works with builders, contractors and homeowners on new construction, repair and remodeling projects.

Founded in 1977, the company has expanded through a network of local operations serving markets throughout the United States.