Installed Building Products (NYSE:IBP) Stock Moved Down to “Hold” by Zacks Research

Zacks Research cut shares of Installed Building Products (NYSE:IBP) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks reports.

Other analysts have also issued research reports about the company. Melius Research started coverage on Installed Building Products in a research note on Tuesday, October 6th. They issued a “hold” rating and a $217.00 price target on the stock. Wall Street Zen downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Sunday, September 27th. Stifel Nicolaus started coverage on Installed Building Products in a report on Monday, September 14th. They issued a “buy” rating and a $240.00 target price on the stock. Wells Fargo & Company decreased their price target on Installed Building Products from $245.00 to $240.00 and set an “equal weight” rating on the stock in a research report on Friday, September 11th. Finally, The Goldman Sachs Group cut their price objective on Installed Building Products from $297.00 to $257.00 and set a “buy” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and a consensus target price of $234.50.

Installed Building Products Stock Up 1.7%

Shares of IBP opened at $188.68 on Monday. The company has a quick ratio of 2.41, a current ratio of 2.98 and a debt-to-equity ratio of 1.62. The company has a 50-day moving average price of $219.21 and a two-hundred day moving average price of $231.44. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 20.31, a P/E/G ratio of 8.29 and a beta of 1.71. Installed Building Products has a 12 month low of $178.54 and a 12 month high of $349.00.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Thursday, August 6th. The construction company reported $2.91 earnings per share 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 analyst estimates of $743.33 million. During the same period in the prior year, the company posted $2.95 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. Equities analysts predict that Installed Building Products will post 9.86 EPS for the current fiscal year.

Installed Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.39 per share. The ex-dividend date was Tuesday, September 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.8%. Installed Building Products’s dividend payout ratio is presently 16.79%.

Insider Transactions at Installed Building Products

In other news, Director Janet Jackson sold 1,086 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $237.06, for a total value of $257,447.16. Following the transaction, the director owned 5,142 shares of the company’s stock, valued at approximately $1,218,962.52. This trade 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 this hyperlink. Insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Installed Building Products

Several large investors have recently bought and sold shares of IBP. BlackRock Inc. acquired a new position in Installed Building Products during the second quarter valued at approximately $1,055,034,000. Reinhart Partners LLC. acquired a new stake in Installed Building Products in the third quarter worth $87,114,000. Bank of America Corp DE acquired a new stake in Installed Building Products in the second quarter worth $62,418,000. Bamco Inc. NY bought a new position in shares of Installed Building Products during the second quarter worth $45,580,000. Finally, Paralel Advisors LLC bought a new position in shares of Installed Building Products during the second quarter worth $37,924,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

About Installed Building Products

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.