Installed Building Products (IBP) Downgraded to Hold at Zelman & Associates
IBP has been the topic of a number of other research reports. KeyCorp reiterated a hold rating on shares of Installed Building Products in a research report on Wednesday, November 1st. Royal Bank of Canada reiterated a buy rating and issued a $69.00 price objective on shares of Installed Building Products in a research report on Monday, October 16th. Zacks Investment Research upgraded Installed Building Products from a hold rating to a buy rating and set a $73.00 price objective on the stock in a research report on Friday, October 6th. SunTrust Banks reiterated a buy rating and issued a $65.00 price objective on shares of Installed Building Products in a research report on Friday, November 3rd. Finally, Jefferies Group assumed coverage on Installed Building Products in a research report on Tuesday, December 12th. They issued a hold rating and a $69.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average price target of $67.43.
Shares of Installed Building Products (NYSE IBP) opened at $75.25 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.22 and a quick ratio of 1.93. Installed Building Products has a 12-month low of $40.00 and a 12-month high of $79.40. The stock has a market capitalization of $2,399.25, a price-to-earnings ratio of 57.44 and a beta of 0.87.
Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Friday, November 3rd. The construction company reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $292.51 million. During the same quarter last year, the business posted $0.38 EPS. The company’s quarterly revenue was up 31.0% on a year-over-year basis. analysts expect that Installed Building Products will post 1.46 EPS for the current fiscal year.
In other news, Director Vikas Verma purchased 3,318 shares of the stock in a transaction on Wednesday, November 8th. The shares were acquired at an average price of $59.98 per share, for a total transaction of $199,013.64. Following the completion of the transaction, the director now directly owns 230,251 shares of the company’s stock, valued at approximately $13,810,454.98. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director J Michael Nixon sold 50,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $73.57, for a total value of $3,678,500.00. The disclosure for this sale can be found here. Company insiders own 32.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Installed Building Products by 3.1% during the second quarter. BlackRock Inc. now owns 2,829,787 shares of the construction company’s stock valued at $149,836,000 after purchasing an additional 84,555 shares in the last quarter. Wasatch Advisors Inc. raised its position in Installed Building Products by 3.9% during the second quarter. Wasatch Advisors Inc. now owns 1,104,994 shares of the construction company’s stock valued at $58,509,000 after purchasing an additional 41,236 shares in the last quarter. Vanguard Group Inc. raised its position in Installed Building Products by 3.7% during the second quarter. Vanguard Group Inc. now owns 1,046,278 shares of the construction company’s stock valued at $55,400,000 after purchasing an additional 37,019 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Installed Building Products by 5.3% in the third quarter. Dimensional Fund Advisors LP now owns 852,519 shares of the construction company’s stock worth $55,243,000 after buying an additional 42,938 shares during the period. Finally, State Street Corp increased its holdings in shares of Installed Building Products by 7.2% in the second quarter. State Street Corp now owns 584,897 shares of the construction company’s stock worth $30,963,000 after buying an additional 39,302 shares during the period. Institutional investors and hedge funds own 65.87% of the company’s stock.
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About Installed Building Products
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.
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