Installed Building Products (NYSE:IBP) Upgraded to Buy at Wall Street Zen

Installed Building Products (NYSE:IBP) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other analysts have also recently weighed in on IBP. Wells Fargo & Company initiated coverage on shares of Installed Building Products in a research report on Monday, November 17th. They set an “equal weight” rating for the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Installed Building Products in a research report on Monday, December 29th. Zacks Research upgraded Installed Building Products from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 28th. Evercore ISI set a $265.00 target price on Installed Building Products in a report on Thursday, November 6th. Finally, Jefferies Financial Group upped their price target on Installed Building Products from $230.00 to $259.00 and gave the stock a “hold” rating in a report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $226.20.

Installed Building Products Stock Up 8.0%

IBP opened at $295.88 on Friday. Installed Building Products has a 1 year low of $150.83 and a 1 year high of $296.71. The firm has a 50 day moving average price of $263.32 and a 200 day moving average price of $246.78. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.28 and a current ratio of 2.78. The company has a market cap of $8.02 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 5.06 and a beta of 1.91.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Wednesday, November 5th. The construction company reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.49. Installed Building Products had a net margin of 8.60% and a return on equity of 62.74%. The firm had revenue of $778.20 million for the quarter, compared to analysts’ expectations of $751.98 million. During the same period in the previous year, the company posted $2.85 earnings per share. Installed Building Products’s revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Installed Building Products will post 10.66 earnings per share for the current year.

Insider Activity at Installed Building Products

In other news, Director Michael H. Thomas sold 2,001 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $268.28, for a total transaction of $536,828.28. Following the completion of the sale, the director owned 8,373 shares of the company’s stock, valued at approximately $2,246,308.44. This trade represents a 19.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William Jeffrey Hire sold 5,000 shares of Installed Building Products stock in a transaction on Friday, November 7th. The stock was sold at an average price of $251.63, for a total transaction of $1,258,150.00. Following the completion of the sale, the insider owned 32,999 shares of the company’s stock, valued at approximately $8,303,538.37. This trade represents a 13.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Large investors have recently modified their holdings of the stock. Danske Bank A S acquired a new position in Installed Building Products in the third quarter worth about $25,000. NewEdge Advisors LLC grew its position in shares of Installed Building Products by 5,000.0% in the 3rd quarter. NewEdge Advisors LLC now owns 102 shares of the construction company’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Curio Wealth LLC grew its position in shares of Installed Building Products by 16,800.0% in the 2nd quarter. Curio Wealth LLC now owns 169 shares of the construction company’s stock worth $30,000 after acquiring an additional 168 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Installed Building Products in the 3rd quarter valued at approximately $33,000. Finally, SRH Advisors LLC raised its position in shares of Installed Building Products by 70.8% during the 2nd quarter. SRH Advisors LLC now owns 205 shares of the construction company’s stock valued at $37,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.