Installed Building Products (NYSE:IBP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

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IBP has been the topic of several other reports. Stephens set a $71.00 price objective on shares of Installed Building Products and gave the company a “buy” rating in a report on Thursday, March 1st. Zelman & Associates upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Friday, February 16th. Jefferies Group started coverage on shares of Installed Building Products in a report on Tuesday, December 12th. They issued a “hold” rating and a $69.00 price objective on the stock. ValuEngine upgraded shares of Installed Building Products from a “sell” rating to a “hold” rating in a report on Saturday, March 10th. Finally, Royal Bank of Canada set a $71.00 price objective on shares of Installed Building Products and gave the company a “buy” rating in a report on Thursday, March 1st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $70.70.

Installed Building Products (NYSE IBP) opened at $63.10 on Tuesday. The firm has a market cap of $1,969.08, a price-to-earnings ratio of 48.54, a P/E/G ratio of 0.97 and a beta of 0.91. Installed Building Products has a fifty-two week low of $46.65 and a fifty-two week high of $79.40. The company has a current ratio of 2.22, a quick ratio of 1.92 and a debt-to-equity ratio of 1.60.

Installed Building Products (NYSE:IBP) last issued its earnings results on Wednesday, February 28th. The construction company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.20). The firm had revenue of $299.87 million for the quarter, compared to analyst estimates of $302.02 million. Installed Building Products had a return on equity of 19.75% and a net margin of 3.63%. Installed Building Products’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. analysts anticipate that Installed Building Products will post 2.13 EPS for the current year.

Installed Building Products declared that its board has approved a stock buyback plan on Wednesday, February 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, COO Jay P. Elliott sold 3,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $73.50, for a total value of $220,500.00. Following the transaction, the chief operating officer now directly owns 48,312 shares in the company, valued at $3,550,932. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Michael Nixon sold 20,000 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $74.50, for a total transaction of $1,490,000.00. The disclosure for this sale can be found here. Corporate insiders own 32.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Beacon Investment Advisory Services Inc. grew its stake in shares of Installed Building Products by 85.8% in the third quarter. Beacon Investment Advisory Services Inc. now owns 65,430 shares of the construction company’s stock valued at $4,240,000 after acquiring an additional 30,215 shares in the last quarter. HAP Trading LLC grew its stake in shares of Installed Building Products by 146.1% in the fourth quarter. HAP Trading LLC now owns 26,644 shares of the construction company’s stock valued at $2,024,000 after acquiring an additional 15,817 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Installed Building Products during the third quarter worth about $379,000. BNP Paribas Arbitrage SA lifted its position in Installed Building Products by 75.0% during the third quarter. BNP Paribas Arbitrage SA now owns 10,759 shares of the construction company’s stock worth $697,000 after purchasing an additional 4,611 shares during the period. Finally, Legal & General Group Plc lifted its position in Installed Building Products by 19.7% during the third quarter. Legal & General Group Plc now owns 44,090 shares of the construction company’s stock worth $2,857,000 after purchasing an additional 7,271 shares during the period. Institutional investors and hedge funds own 68.24% of the company’s stock.

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Installed Building Products Company Profile

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.

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Analyst Recommendations for Installed Building Products (NYSE:IBP)

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