Zacks Investment Research upgraded shares of Installed Building Products, Inc. (NYSE:IBP) from a strong sell rating to a hold rating in a research note published on Wednesday.

According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “

Several other research firms have also issued reports on IBP. Royal Bank Of Canada restated an outperform rating and issued a $61.00 target price on shares of Installed Building Products in a report on Wednesday, June 7th. Seaport Global Securities upped their price objective on shares of Installed Building Products from $55.00 to $61.00 and gave the company a buy rating in a report on Monday, May 8th. BidaskClub upgraded shares of Installed Building Products from a hold rating to a buy rating in a report on Tuesday, June 13th. Finally, Credit Suisse Group assumed coverage on shares of Installed Building Products in a report on Thursday, June 22nd. They set an outperform rating and a $61.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $51.00.

Shares of Installed Building Products (IBP) opened at 52.20 on Wednesday. The firm has a market cap of $1.65 billion, a P/E ratio of 42.13 and a beta of 0.82. Installed Building Products has a 52 week low of $30.16 and a 52 week high of $55.45. The company’s 50-day moving average price is $51.04 and its 200 day moving average price is $47.50.

Installed Building Products (NYSE:IBP) last released its earnings results on Friday, May 5th. The construction company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.03. The business had revenue of $255.70 million for the quarter, compared to analyst estimates of $236.19 million. Installed Building Products had a net margin of 4.21% and a return on equity of 26.42%. Installed Building Products’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, equities analysts anticipate that Installed Building Products will post $2.24 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/07/18/installed-building-products-inc-ibp-raised-to-hold-at-zacks-investment-research.html.

In related news, CEO Jeffrey W. Edwards sold 600,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $52.50, for a total value of $31,500,000.00. Following the sale, the chief executive officer now owns 504,800 shares in the company, valued at approximately $26,502,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Margot Lebenberg Carter sold 2,198 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $52.00, for a total transaction of $114,296.00. Following the completion of the sale, the director now owns 8,761 shares in the company, valued at approximately $455,572. The disclosure for this sale can be found here. Insiders have sold 609,463 shares of company stock worth $31,999,091 in the last quarter. Company insiders own 32.90% of the company’s stock.

Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Installed Building Products by 167,701.5% in the first quarter. BlackRock Inc. now owns 2,745,232 shares of the construction company’s stock worth $144,812,000 after buying an additional 2,743,596 shares in the last quarter. Teachers Advisors LLC raised its stake in Installed Building Products by 481.2% in the first quarter. Teachers Advisors LLC now owns 213,255 shares of the construction company’s stock worth $11,249,000 after buying an additional 176,562 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Installed Building Products by 11.2% in the first quarter. Dimensional Fund Advisors LP now owns 789,371 shares of the construction company’s stock worth $41,639,000 after buying an additional 79,567 shares in the last quarter. Vanguard Group Inc. raised its stake in Installed Building Products by 6.4% in the first quarter. Vanguard Group Inc. now owns 1,009,259 shares of the construction company’s stock worth $53,238,000 after buying an additional 60,832 shares in the last quarter. Finally, Morgan Stanley raised its stake in Installed Building Products by 70.1% in the first quarter. Morgan Stanley now owns 141,862 shares of the construction company’s stock worth $7,483,000 after buying an additional 58,452 shares in the last quarter. Institutional investors own 64.24% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc is a holding company. The Company is a residential insulation installer in the United States. As of December 31, 2016, the Company’s national platform included over 100 locations accessing customers in 48 continental states and the District of Columbia. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors, which provides cross-selling opportunities to supplement the insulation installation business.

Get a free copy of the Zacks research report on Installed Building Products (IBP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Installed Building Products Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products Inc. and related companies with MarketBeat.com's FREE daily email newsletter.