The Installed Building Products Inc (IBP) Lowered to Strong Sell at Zacks Investment Research

The Installed Building Products Inc (IBP) Lowered to Strong Sell at Zacks Investment Research

According to Zacks, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio. “

Zacks Investment Research cut shares of Installed Building Products Inc (NYSE:IBP) from a hold rating to a strong sell rating in a research note published on Thursday, May 11th.

A number of other equities research analysts also recently commented on IBP. Royal Bank of Canada lifted their price target on shares of Installed Building Products from $53.00 to $61.00 and gave the stock an outperform rating in a report on Monday, May 8th. Seaport Global Securities boosted their target price on shares of Installed Building Products from $55.00 to $61.00 and gave the company a buy rating in a report on Monday, May 8th. Installed Building Products (NYSE IBP) opened at 52.00 on Thursday. Installed Building Products has a 12 month low of $30.16 and a 12 month high of $55.45. The stock’s 50 day moving average price is $50.55 and its 200-day moving average price is $45.95. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 41.97 and a beta of 0.78.

In other news, COO Jay P. Elliott sold 2,735 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $52.50, for a total transaction of $143,587.50. Following the transaction, the chief operating officer now directly owns 54,336 shares of the company’s stock, valued at $2,852,640. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director J Michael Nixon sold 22,979 shares of the business’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $1,148,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,479 shares of company stock valued at $1,545,083. 35.60% of the stock is owned by insiders. A number of hedge funds have recently bought and sold shares of IBP. Kornitzer Capital Management Inc. KS boosted its stake in Installed Building Products by 402.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 140,635 shares of the construction company’s stock valued at $5,045,000 after buying an additional 112,635 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Installed Building Products by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 351,161 shares of the construction company’s stock valued at $12,596,000 after buying an additional 6,531 shares in the last quarter. Sei Investments Co. boosted its stake in Installed Building Products by 136,075.0% in the third quarter. Sei Investments Co. now owns 10,894 shares of the construction company’s stock valued at $390,000 after buying an additional 10,886 shares in the last quarter. BlackRock Advisors LLC boosted its stake in Installed Building Products by 27.9% in the third quarter. BlackRock Advisors LLC now owns 83,985 shares of the construction company’s stock valued at $3,013,000 after buying an additional 18,337 shares in the last quarter. Finally, BlackRock Investment Management LLC boosted its stake in Installed Building Products by 1.5% in the third quarter. BlackRock Investment Management LLC now owns 82,968 shares of the construction company’s stock valued at $2,976,000 after buying an additional 1,188 shares in the last quarter. 69.70% of the stock is currently owned by hedge funds and other institutional investors.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “IBP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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