Installed Building Products (NYSE:IBP) Downgraded by Wall Street Zen to Hold

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

IBP has been the subject of a number of other research reports. 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 upgraded Installed Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 14th. Danske cut Installed Building Products from a “buy” rating to a “hold” rating and set a $252.00 target price for the company. in a report on Tuesday, August 12th. DA Davidson downgraded Installed Building Products from a “buy” rating to a “hold” rating and boosted their target price for the company from $225.00 to $252.00 in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group raised their price target on Installed Building Products from $175.00 to $225.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $217.36.

Installed Building Products Stock Down 1.0%

NYSE IBP opened at $241.73 on Friday. The stock has a 50 day moving average price of $253.23 and a 200-day moving average price of $200.95. Installed Building Products has a one year low of $150.83 and a one year high of $280.00. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.31 and a current ratio of 2.85. The company has a market capitalization of $6.61 billion, a P/E ratio of 26.89 and a beta of 1.83.

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Installed Building Products

A number of institutional investors have recently modified their holdings of IBP. Curio Wealth LLC boosted its holdings in shares of Installed Building Products by 16,800.0% in the second quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock valued at $30,000 after purchasing an additional 168 shares during the period. UMB Bank n.a. lifted its holdings in shares of Installed Building Products by 142.1% in the 1st quarter. UMB Bank n.a. now owns 184 shares of the construction company’s stock worth $32,000 after buying an additional 108 shares during the period. SRH Advisors LLC grew its position in shares of Installed Building Products by 70.8% during the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock worth $37,000 after buying an additional 85 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Installed Building Products by 74.6% during the first quarter. Fifth Third Bancorp now owns 227 shares of the construction company’s stock valued at $39,000 after buying an additional 97 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Installed Building Products by 14.0% in the second quarter. Smartleaf Asset Management LLC now owns 439 shares of the construction company’s stock valued at $78,000 after acquiring an additional 54 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, 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.