Installed Building Products (NYSE:IBP) Downgraded to Hold Rating by Wall Street Zen

Installed Building Products (NYSE:IBP) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other brokerages have also issued reports on IBP. Wells Fargo & Company cut their price target on Installed Building Products from $355.00 to $340.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Benchmark lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings cut Installed Building Products from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 20th. Zacks Research downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Royal Bank Of Canada raised their target price on shares of Installed Building Products from $203.00 to $255.00 and gave the company an “underperform” rating in a research note on Friday, February 27th. Eleven investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $257.73.

Installed Building Products Stock Performance

IBP stock opened at $262.26 on Friday. The company has a 50 day moving average price of $304.17 and a 200 day moving average price of $277.03. Installed Building Products has a fifty-two week low of $150.83 and a fifty-two week high of $349.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 3.03 and a quick ratio of 2.44. The stock has a market capitalization of $7.08 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 3.69 and a beta of 1.90.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, February 26th. The construction company reported $3.24 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.41. The firm had revenue of $747.50 million for the quarter, compared to analyst estimates of $738.97 million. Installed Building Products had a return on equity of 43.71% and a net margin of 8.93%.The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $2.88 EPS. Analysts forecast that Installed Building Products will post 10.66 EPS for the current year.

Insider Transactions at Installed Building Products

In related news, Director Janet E. Jackson sold 1,410 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $293.31, for a total transaction of $413,567.10. Following the completion of the transaction, the director owned 5,373 shares in the company, valued at approximately $1,575,954.63. The trade was a 20.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey W. Edwards sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $314.06, for a total transaction of $125,624,000.00. Following the transaction, the chief executive officer owned 1,727,819 shares of the company’s stock, valued at approximately $542,638,835.14. This represents a 18.80% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 16.20% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its holdings in shares of Installed Building Products by 29.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 259 shares of the construction company’s stock valued at $67,000 after buying an additional 59 shares during the period. World Investment Advisors raised its stake in Installed Building Products by 21.1% during the 4th quarter. World Investment Advisors now owns 2,029 shares of the construction company’s stock worth $526,000 after buying an additional 354 shares during the period. Corient Private Wealth LLC raised its stake in Installed Building Products by 19.3% during the 4th quarter. Corient Private Wealth LLC now owns 5,742 shares of the construction company’s stock worth $1,490,000 after buying an additional 929 shares during the period. Anchor Investment Management LLC bought a new position in Installed Building Products during the fourth quarter worth about $259,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Installed Building Products in the fourth quarter valued at about $243,000. 99.61% of the stock is owned by institutional investors.

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.