Melius Research Begins Coverage on Installed Building Products (NYSE:IBP)

Investment analysts at Melius Research started coverage on shares of Installed Building Products (NYSE:IBP) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a “hold” rating and a $217.00 price target on the construction company’s stock. Melius Research’s price target indicates a potential upside of 17.62% from the company’s previous close.

Several other equities analysts have also recently weighed in on IBP. Wells Fargo & Company dropped their price objective on Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Friday, September 11th. Zacks Research upgraded shares of Installed Building Products from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Stifel Nicolaus initiated coverage on shares of Installed Building Products in a report on Monday, September 14th. They issued a “buy” rating and a $240.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Installed Building Products in a research report on Tuesday, August 18th. Finally, Wall Street Zen cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $240.17.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $184.49 on Tuesday. The company has a market cap of $4.90 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 3.59 and a beta of 1.71. Installed Building Products has a 52 week low of $179.66 and a 52 week high of $349.00. The business has a 50 day moving average price of $222.56 and a 200-day moving average price of $233.68. 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 (NYSE:IBP) last announced its earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.36. Installed Building Products had a return on equity of 42.12% and a net margin of 8.46%.The company had revenue of $777.80 million for the quarter, compared to analysts’ expectations of $743.33 million. During the same quarter in the previous year, the firm earned $2.95 earnings per share. Installed Building Products’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts anticipate that Installed Building Products will post 9.89 earnings per share for the current fiscal year.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Janet Jackson sold 1,086 shares of the company’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total value of $257,447.16. Following the completion of the transaction, the director owned 5,142 shares in the company, valued at $1,218,962.52. This represents a 17.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 13.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Installed Building Products

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Installed Building Products during the second quarter valued at about $1,055,034,000. Giverny Capital Inc. raised its position in Installed Building Products by 0.9% in the fourth quarter. Giverny Capital Inc. now owns 519,236 shares of the construction company’s stock worth $134,685,000 after acquiring an additional 4,500 shares during the period. Goldman Sachs Group Inc. raised its position in Installed Building Products by 52.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 355,211 shares of the construction company’s stock worth $92,138,000 after acquiring an additional 122,561 shares during the period. Bank of America Corp DE raised its position in Installed Building Products by 51.8% in the first 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 during the period. Finally, Bamco Inc. NY purchased a new position in Installed Building Products in the second quarter valued at about $45,580,000. 99.61% of the stock is currently owned by institutional investors.

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.