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

Wall Street Zen cut shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a report released on Saturday morning.

A number of other equities research analysts have also recently weighed in on IBP. Wells Fargo & Company initiated coverage on shares of Installed Building Products in a research report on Monday, November 17th. They issued an “equal weight” rating for the company. Jefferies Financial Group boosted their target price on Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a report on Monday, December 15th. Zacks Research upgraded Installed Building Products from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Vertical Research assumed coverage on Installed Building Products in a research report on Monday, October 20th. They set a “sell” rating on the stock. Finally, Evercore ISI set a $265.00 price objective on Installed Building Products in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $226.20.

Installed Building Products Stock Performance

Shares of IBP stock opened at $267.73 on Friday. The firm has a 50 day moving average of $260.76 and a two-hundred day moving average of $236.87. The stock has a market capitalization of $7.26 billion, a PE ratio of 28.82, a P/E/G ratio of 4.91 and a beta of 1.90. The company has a quick ratio of 2.28, a current ratio of 2.78 and a debt-to-equity ratio of 1.25. Installed Building Products has a 52 week low of $150.83 and a 52 week high of $293.53.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Wednesday, November 5th. The construction company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a return on equity of 62.74% and a net margin of 8.60%.The business had revenue of $778.20 million during the quarter, compared to the consensus estimate of $751.98 million. During the same period in the previous year, the company posted $2.85 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, research analysts predict that Installed Building Products will post 10.66 EPS for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, December 15th. Installed Building Products’s payout ratio is 15.93%.

Insider Activity at Installed Building Products

In other news, Director Michael H. Thomas sold 2,001 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total transaction of $536,828.28. Following the completion of the sale, the director owned 8,373 shares in the company, valued at $2,246,308.44. This represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William Jeffrey Hire sold 5,000 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $251.63, for a total value of $1,258,150.00. Following the sale, the insider directly owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. This represents a 13.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Installed Building Products

Several institutional investors have recently bought and sold shares of the company. Eminence Capital LP purchased a new stake in shares of Installed Building Products in the first quarter valued at about $109,114,000. Timucuan Asset Management Inc. FL acquired a new stake in Installed Building Products in the first quarter valued at about $85,786,000. TD Asset Management Inc lifted its position in Installed Building Products by 2,169.2% in the third quarter. TD Asset Management Inc now owns 271,938 shares of the construction company’s stock valued at $67,076,000 after purchasing an additional 259,954 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Installed Building Products by 190.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,292 shares of the construction company’s stock valued at $51,831,000 after purchasing an additional 198,391 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in Installed Building Products by 1,897.8% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 177,800 shares of the construction company’s stock worth $32,061,000 after purchasing an additional 168,900 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 leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.