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

Wall Street Zen cut shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research report sent to investors on Sunday morning,Wall Street Zen reports.

Several other brokerages also recently issued reports on IBP. Wells Fargo & Company decreased their price objective on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a research note on Friday, September 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Stifel Nicolaus assumed coverage on Installed Building Products in a research note on Monday, September 14th. They set a “buy” rating and a $240.00 price target for the company. Evercore set a $222.00 price objective on Installed Building Products in a research report on Friday. Finally, DA Davidson increased their target price on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Two 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $245.36.

Installed Building Products Stock Performance

NYSE:IBP opened at $200.71 on Friday. The firm has a market capitalization of $5.33 billion, a PE ratio of 21.60, a PEG ratio of 3.73 and a beta of 1.71. The stock’s fifty day moving average is $228.23 and its 200 day moving average is $238.73. Installed Building Products has a fifty-two week low of $192.65 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 1.62, a quick ratio of 2.41 and a current ratio of 2.98.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 earnings per share. On average, sell-side analysts anticipate that Installed Building Products will post 9.89 earnings per share for the current year.

Installed Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.39 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.8%. Installed Building Products’s payout ratio is presently 16.79%.

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 directly 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 document filed with the SEC, which is available through the SEC website. 13.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds have recently made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased its stake in shares of Installed Building Products by 3.9% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 133,953 shares of the construction company’s stock valued at $35,518,000 after buying an additional 5,042 shares during the period. Deutsche Bank AG purchased a new stake in Installed Building Products in the second quarter worth about $19,341,000. Bank of America Corp DE grew its holdings in Installed Building Products by 51.8% during the 1st quarter. Bank of America Corp DE now owns 298,729 shares of the construction company’s stock worth $79,208,000 after acquiring an additional 101,967 shares in the last quarter. Norges Bank purchased a new position in Installed Building Products during the 4th quarter valued at about $32,359,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Installed Building Products in the 2nd quarter valued at about $37,771,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

About Installed Building Products

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.