Installed Building Products, Inc. (NYSE:IBP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

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. “

A number of other research firms also recently issued reports on IBP. Deutsche Bank AG raised their price objective on shares of Installed Building Products from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, August 21st. Credit Suisse Group set a $73.00 price objective on shares of Installed Building Products and gave the stock an “outperform” rating in a report on Tuesday, October 17th. BidaskClub downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Royal Bank Of Canada raised their price objective on shares of Installed Building Products from $61.00 to $69.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Finally, KeyCorp reissued a “hold” rating on shares of Installed Building Products in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $67.60.

Installed Building Products (IBP) traded down 0.91% on Monday, reaching $65.20. 156,165 shares of the company’s stock were exchanged. The company has a market cap of $2.06 billion, a PE ratio of 50.08 and a beta of 0.83. Installed Building Products has a 52-week low of $30.75 and a 52-week high of $67.15. The firm’s 50 day moving average price is $62.17 and its 200 day moving average price is $55.17.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Friday, August 4th. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $282.20 million for the quarter, compared to the consensus estimate of $274.63 million. Installed Building Products had a net margin of 4.11% and a return on equity of 25.27%. The firm’s revenue was up 33.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.34 earnings per share. On average, analysts expect that Installed Building Products will post $2.24 earnings per share for the current year.

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In other Installed Building Products news, VP Michael Thomas Miller sold 1,661 shares of Installed Building Products stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $60.00, for a total transaction of $99,660.00. Following the transaction, the vice president now owns 32,086 shares of the company’s stock, valued at $1,925,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Todd R. Fry sold 1,000 shares of Installed Building Products stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $58.00, for a total transaction of $58,000.00. Following the transaction, the insider now directly owns 4,091 shares in the company, valued at approximately $237,278. The disclosure for this sale can be found here. In the last three months, insiders sold 168,546 shares of company stock worth $10,371,796. 32.90% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of IBP. UBS Asset Management Americas Inc. purchased a new position in Installed Building Products during the first quarter valued at approximately $556,000. JPMorgan Chase & Co. purchased a new position in Installed Building Products during the first quarter valued at approximately $1,185,000. Prudential Financial Inc. lifted its holdings in Installed Building Products by 0.6% during the first quarter. Prudential Financial Inc. now owns 34,530 shares of the construction company’s stock valued at $1,821,000 after purchasing an additional 220 shares in the last quarter. Arizona State Retirement System lifted its holdings in Installed Building Products by 2.0% during the first quarter. Arizona State Retirement System now owns 10,400 shares of the construction company’s stock valued at $549,000 after purchasing an additional 200 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Installed Building Products by 5.8% during the first quarter. Alliancebernstein L.P. now owns 25,500 shares of the construction company’s stock valued at $1,345,000 after purchasing an additional 1,400 shares in the last quarter. 65.60% of the stock is currently owned by institutional investors and hedge funds.

About Installed Building Products

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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