Installed Building Products (NYSE:IBP) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a strong-buy rating in a research note published on Thursday,Zacks reports.

A number of other research analysts have also recently commented on the company. Evercore set a $222.00 price objective on Installed Building Products in a research note on Friday, September 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Installed Building Products in a report on Tuesday, August 18th. Wells Fargo & Company reduced 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. DA Davidson upped their price target on Installed Building Products from $242.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $245.36.

Installed Building Products Price Performance

Installed Building Products stock opened at $192.97 on Thursday. The firm has a fifty day moving average of $225.14 and a 200-day moving average of $235.93. Installed Building Products has a 52-week low of $186.64 and a 52-week high of $349.00. 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 firm has a market capitalization of $5.13 billion, a P/E ratio of 20.77, a PEG ratio of 3.59 and a beta of 1.71.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 6th. The construction company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.36. Installed Building Products had a net margin of 8.46% and a return on equity of 42.12%. The firm had revenue of $777.80 million during the quarter, compared to analysts’ expectations of $743.33 million. During the same period in the prior year, the company earned $2.95 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, analysts predict that Installed Building Products will post 9.89 EPS for the current year.

Installed Building Products Announces Dividend

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

Insider Buying and Selling 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 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 in the company, valued at $1,218,962.52. This trade represents a 17.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Installed Building Products during the 2nd quarter worth $1,055,034,000. Bank of America Corp DE acquired a new stake in shares of Installed Building Products in the 2nd quarter valued at about $62,418,000. Bamco Inc. NY acquired a new stake in shares of Installed Building Products in the 2nd quarter valued at about $45,580,000. Paralel Advisors LLC bought a new position in shares of Installed Building Products during the second quarter worth about $37,924,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Installed Building Products during the second quarter worth about $37,771,000. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.