Installed Building Products (IBP) Earns Hold Rating from Analysts at Jefferies Group

Jefferies Group started coverage on shares of Installed Building Products (NYSE:IBP) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The brokerage issued a hold rating and a $69.00 price objective on the construction company’s stock.

IBP has been the subject of several other reports. KeyCorp reissued a hold rating on shares of Installed Building Products in a report on Wednesday, November 1st. Royal Bank of Canada restated a buy rating and set a $69.00 target price on shares of Installed Building Products in a research report on Monday, October 16th. Zacks Investment Research upgraded shares of Installed Building Products from a hold rating to a buy rating and set a $73.00 target price for the company in a research report on Friday, October 6th. SunTrust Banks restated a buy rating and set a $65.00 target price on shares of Installed Building Products in a research report on Friday, November 3rd. Finally, BidaskClub lowered shares of Installed Building Products from a buy rating to a hold rating in a research report on Tuesday, August 22nd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Installed Building Products currently has a consensus rating of Buy and a consensus target price of $67.43.

Installed Building Products (IBP) traded up $2.20 on Tuesday, hitting $71.10. 254,400 shares of the stock traded hands, compared to its average volume of 154,903. 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 1 year low of $39.95 and a 1 year high of $79.40. The stock has a market capitalization of $2,195.33, a PE ratio of 52.60 and a beta of 0.87.

Installed Building Products (NYSE:IBP) last released its quarterly earnings data on Friday, November 3rd. The construction company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.07). Installed Building Products had a net margin of 3.88% and a return on equity of 23.40%. The company had revenue of $295.20 million for the quarter, compared to analysts’ expectations of $292.51 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. equities analysts predict that Installed Building Products will post 1.46 earnings per share for the current year.

In related news, CEO Jeffrey W. Edwards sold 200,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $74.25, for a total transaction of $14,850,000.00. Following the sale, the chief executive officer now owns 504,800 shares of the company’s stock, valued at $37,481,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Vikas Verma purchased 3,318 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average cost of $59.98 per share, for a total transaction of $199,013.64. Following the purchase, the director now owns 230,251 shares of the company’s stock, valued at $13,810,454.98. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 413,781 shares of company stock valued at $28,617,254. 32.90% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake 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 stake 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 stake 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 raised its stake in Installed Building Products by 5.3% during the third quarter. Dimensional Fund Advisors LP now owns 852,519 shares of the construction company’s stock valued at $55,243,000 after purchasing an additional 42,938 shares in the last quarter. Finally, State Street Corp raised its stake 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 valued at $30,963,000 after acquiring an additional 39,302 shares during the period. 65.91% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Installed Building Products (NYSE:IBP)

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