Installed Building Products (IBP) Rating Lowered to Sector Perform at Royal Bank of Canada

Installed Building Products (NYSE:IBP) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a note issued to investors on Friday, The Fly reports.

IBP has been the topic of several other research reports. ValuEngine downgraded shares of Installed Building Products from a “sell” rating to a “strong sell” rating in a research note on Friday, September 21st. Zacks Investment Research raised shares of Installed Building Products from a “sell” rating to a “hold” rating in a research note on Saturday, January 5th. Stephens downgraded shares of Installed Building Products from an “overweight” rating to an “equal weight” rating and set a $37.00 price target on the stock. in a research note on Thursday, October 18th. TheStreet lowered shares of Installed Building Products from a “b” rating to a “c+” rating in a report on Thursday, October 4th. Finally, Deutsche Bank lowered shares of Installed Building Products from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $44.00 to $38.00 in a report on Tuesday, December 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $51.45.

Installed Building Products stock opened at $39.50 on Friday. Installed Building Products has a 12-month low of $29.24 and a 12-month high of $75.75. The firm has a market cap of $1.24 billion, a P/E ratio of 33.19, a PEG ratio of 1.10 and a beta of 1.21. The company has a current ratio of 2.59, a quick ratio of 2.30 and a debt-to-equity ratio of 2.04.



Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, November 1st. The construction company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.07). Installed Building Products had a return on equity of 29.03% and a net margin of 3.82%. The firm had revenue of $349.00 million for the quarter, compared to analysts’ expectations of $346.39 million. During the same period last year, the firm earned $0.57 EPS. The business’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities analysts expect that Installed Building Products will post 2.45 EPS for the current fiscal year.

In other Installed Building Products news, CEO Jeffrey W. Edwards sold 150,000 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $34.11, for a total transaction of $5,116,500.00. Following the completion of the transaction, the chief executive officer now directly owns 300,159 shares of the company’s stock, valued at approximately $10,238,423.49. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in shares of Installed Building Products by 6.3% in the 4th quarter. State of Alaska Department of Revenue now owns 7,308 shares of the construction company’s stock valued at $246,000 after buying an additional 433 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Installed Building Products by 2.9% in the 3rd quarter. Teachers Advisors LLC now owns 45,553 shares of the construction company’s stock valued at $1,777,000 after buying an additional 1,282 shares during the period. Carillon Tower Advisers Inc. boosted its holdings in shares of Installed Building Products by 2.0% in the 3rd quarter. Carillon Tower Advisers Inc. now owns 77,897 shares of the construction company’s stock valued at $3,038,000 after buying an additional 1,548 shares during the period. Scout Investments Inc. boosted its holdings in shares of Installed Building Products by 2.2% in the 3rd quarter. Scout Investments Inc. now owns 82,410 shares of the construction company’s stock valued at $3,214,000 after buying an additional 1,761 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Installed Building Products by 5.8% in the 3rd quarter. Arizona State Retirement System now owns 32,094 shares of the construction company’s stock valued at $1,252,000 after buying an additional 1,766 shares during the period. 71.13% of the stock is owned by institutional investors and hedge funds.

Installed Building Products Company Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, shower doors, closet shelving and mirrors, and other products in the continental United States. It offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.

Read More: How to Trade Using Analysts Ratings

The Fly

Analyst Recommendations for Installed Building Products (NYSE:IBP)

Receive News & Ratings for Installed Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Installed Building Products and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply