Installed Building Products (NYSE:IBP) Cut to “Strong Sell” at Zacks Research

Installed Building Products (NYSE:IBP) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

A number of other analysts have also issued reports on IBP. The Goldman Sachs Group reissued a “buy” rating and issued a $261.00 price target on shares of Installed Building Products in a research report on Friday, November 6th. Wall Street Zen downgraded shares of Installed Building Products from a “buy” rating to a “hold” rating in a research report on Sunday, September 27th. Royal Bank Of Canada lowered their price objective on shares of Installed Building Products from $208.00 to $194.00 and set a “sector perform” rating on the stock in a research report on Friday, November 6th. Truist Financial upped their price objective on shares of Installed Building Products from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Friday, November 6th. Finally, Wells Fargo & Company cut their target price on shares of Installed Building Products from $240.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Installed Building Products presently has a consensus rating of “Reduce” and a consensus target price of $229.83.

Installed Building Products Stock Down 1.2%

Shares of Installed Building Products stock opened at $209.82 on Tuesday. The stock has a 50-day moving average price of $203.03 and a 200 day moving average price of $244.07. The company has a market cap of $5.58 billion, a P/E ratio of 21.08, a P/E/G ratio of 10.55 and a beta of 1.65. The company has a current ratio of 3.12, a quick ratio of 2.54 and a debt-to-equity ratio of 1.47. Installed Building Products has a 1 year low of $176.15 and a 1 year high of $349.00.

Installed Building Products (NYSE:IBP) last released its earnings results on Thursday, November 5th. The construction company reported $2.76 earnings per share for the quarter, missing the consensus estimate of $2.83 by ($0.07). Installed Building Products had a net margin of 7.87% and a return on equity of 39.86%. The business had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $787.70 million. During the same period last year, the firm earned $3.18 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, analysts expect that Installed Building Products will post 9.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Janet Jackson sold 1,086 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $237.06, for a total transaction of $257,447.16. Following the completion of the sale, the director directly owned 5,142 shares of the company’s stock, valued at $1,218,962.52. This trade represents a 17.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 13.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors have recently made changes to their positions in IBP. Advisors Asset Management Inc. bought a new position in Installed Building Products during the third quarter valued at approximately $1,197,000. GW&K Investment Management LLC acquired a new stake in Installed Building Products in the third quarter valued at approximately $3,475,000. Boston Partners acquired a new stake in Installed Building Products in the third quarter valued at approximately $25,610,000. Stephens Investment Management Group LLC grew its position in Installed Building Products by 1.6% in the third quarter. Stephens Investment Management Group LLC now owns 178,028 shares of the construction company’s stock worth $34,160,000 after acquiring an additional 2,757 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Installed Building Products by 38.6% in the third quarter. HighTower Advisors LLC now owns 1,665 shares of the construction company’s stock worth $319,000 after acquiring an additional 464 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors and hedge funds.

About Installed Building Products

Installed Building Products, Inc. is a U.S. building-products installation company headquartered in Columbus, Ohio. Founded in 1977, the company serves residential builders, commercial contractors, and homeowners through a network of local operating businesses across the United States. The company’s core business is installing insulation in new construction and existing buildings. Its offerings include fiberglass, cellulose, and spray-foam insulation, along with related weatherization services. Installed Building Products also installs complementary products such as garage doors, rain gutters, shower doors, and closet shelving.