Installed Building Products (IBP) Stock Rating Lowered by Zelman & Associates

Installed Building Products (NYSE:IBP) was downgraded by analysts at Zelman & Associates from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.

A number of other equities research analysts have also recently issued reports on IBP. KeyCorp restated a “hold” rating on shares of Installed Building Products in a report on Tuesday, September 26th. Zacks Investment Research upgraded Installed Building Products from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a report on Friday, October 6th. Royal Bank of Canada restated a “buy” rating and set a $69.00 price objective on shares of Installed Building Products in a report on Monday, October 16th. Credit Suisse Group set a $73.00 price objective on Installed Building Products and gave the stock an “outperform” rating in a report on Tuesday, October 17th. Finally, SunTrust Banks restated a “buy” rating and set a $65.00 price objective on shares of Installed Building Products in a report on Friday, November 3rd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Installed Building Products has a consensus rating of “Buy” and an average price target of $67.43.

Installed Building Products (NYSE:IBP) traded down $2.30 during trading on Friday, reaching $75.30. The company had a trading volume of 98,100 shares, compared to its average volume of 122,267. Installed Building Products has a fifty-two week low of $40.00 and a fifty-two week high of $79.40. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.22 and a quick ratio of 1.93. The company has a market capitalization of $2,472.53, a PE ratio of 57.48 and a beta of 0.87.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Friday, November 3rd. The construction company reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). Installed Building Products had a return on equity of 23.40% and a net margin of 3.88%. The business had revenue of $295.20 million for the quarter, compared to the consensus estimate of $292.51 million. During the same quarter in the previous year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. sell-side analysts anticipate that Installed Building Products will post 1.46 earnings per share for the current year.

In other Installed Building Products news, Director Vikas Verma purchased 3,318 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average cost of $59.98 per share, for a total transaction of $199,013.64. Following the completion of the transaction, the director now owns 230,251 shares in the company, valued at $13,810,454.98. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey W. Edwards sold 200,000 shares of Installed Building Products stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $74.25, for a total transaction of $14,850,000.00. Following the completion of the sale, the chief executive officer now owns 504,800 shares of the company’s stock, valued at $37,481,400. The disclosure for this sale can be found here. 32.90% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in IBP. Algert Global LLC bought a new stake in shares of Installed Building Products in the third quarter worth $2,519,000. California Public Employees Retirement System boosted its position in Installed Building Products by 77.2% during the third quarter. California Public Employees Retirement System now owns 26,223 shares of the construction company’s stock valued at $1,699,000 after acquiring an additional 11,423 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Installed Building Products by 32.9% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,202 shares of the construction company’s stock valued at $207,000 after purchasing an additional 793 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of Installed Building Products by 26.1% during the third quarter. Cubist Systematic Strategies LLC now owns 5,758 shares of the construction company’s stock valued at $373,000 after purchasing an additional 1,193 shares during the period. Finally, Beacon Investment Advisory Services Inc. raised its holdings in shares of Installed Building Products by 85.8% during the third quarter. Beacon Investment Advisory Services Inc. now owns 65,430 shares of the construction company’s stock valued at $4,240,000 after purchasing an additional 30,215 shares during the period. Institutional investors and hedge funds own 65.87% of the company’s stock.

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Installed Building Products Company Profile

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.

The Fly

Analyst Recommendations for Installed Building Products (NYSE:IBP)

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