Installed Building Products (NYSE:IBP) Raised to Strong-Buy at Zacks Research

Installed Building Products (NYSE:IBP) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Zacks reports.

IBP has been the topic of several other reports. DA Davidson lifted their price target on shares of Installed Building Products from $242.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Evercore set a $222.00 price objective on shares of Installed Building Products in a research note on Friday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Wall Street Zen cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Sunday, September 27th. Finally, Wells Fargo & Company lowered their price target on shares of Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating for the company in a report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $245.36.

Installed Building Products Price Performance

Shares of IBP stock opened at $192.97 on Thursday. The business has a fifty day simple moving average of $225.14 and a 200 day simple moving average of $235.93. The company has a market cap of $5.13 billion, a P/E ratio of 20.77, a P/E/G ratio of 3.59 and a beta of 1.71. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. Installed Building Products has a twelve month low of $186.64 and a twelve month high of $349.00.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.36. The firm had revenue of $777.80 million for the quarter, compared to analysts’ expectations of $743.33 million. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.95 earnings per share. On average, sell-side analysts forecast that Installed Building Products will post 9.89 EPS for the current fiscal year.

Insider Buying and Selling

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total transaction of $257,447.16. Following the sale, the director directly owned 5,142 shares of the company’s stock, valued at $1,218,962.52. The trade was a 17.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds have recently modified their holdings of IBP. Anchor Investment Management LLC grew its position in shares of Installed Building Products by 11.7% in the 2nd quarter. Anchor Investment Management LLC now owns 1,340 shares of the construction company’s stock valued at $308,000 after buying an additional 140 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Installed Building Products in the second quarter valued at about $1,180,000. Engineers Gate Manager LP bought a new position in shares of Installed Building Products during the second quarter worth about $695,000. Summit Financial Strategies Inc. raised its position in shares of Installed Building Products by 79.2% during the second quarter. Summit Financial Strategies Inc. now owns 5,189 shares of the construction company’s stock worth $1,193,000 after acquiring an additional 2,293 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its stake in shares of Installed Building Products by 27.0% in the second quarter. Beacon Investment Advisory Services Inc. now owns 15,203 shares of the construction company’s stock worth $3,494,000 after acquiring an additional 3,229 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a residential and commercial building-products installation company headquartered in Columbus, Ohio. The company primarily serves homebuilders, contractors and homeowners by providing installation services for products used in new construction, renovation and remodeling projects.

Its core business is insulation installation, including fiberglass, spray foam, cellulose and other insulation products. Installed Building Products also offers installation of complementary building products such as garage doors, gutters, windows, doors, shower enclosures and closet systems, depending on the market.

Founded in 1977, the company has expanded through a network of local operating businesses serving customers across much of the United States.