Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>The rotation out of stay-at-home/COVID-19 beneficiary stocks and into reopening/economically sensitive stocks that we highlighted last week has continued, leading us to make several upgrades and one downgrade (see first bullet below). This broadening-out of participation and several other bullish developments highlighted below tells us the bulls have the upper hand. In today’s report we highlight attractive Groups and stocks within Discretionary, Transportation, and Manufacturing: CD-05 Auto Parts Retailers, TR-05 Large-Cap Air Freight &amp; Logistics, TR-12 Large-Cap Trucking, and MF-31 Building Products and Fixtures.</p>

The rotation out of stay-at-home/COVID-19 beneficiary stocks and into reopening/economically sensitive stocks that we highlighted last week has continued, leading us to make several upgrades and one downgrade (see first bullet below). This broadening-out of participation and several other bullish developments highlighted below tells us the bulls have the upper hand. In today’s report we highlight attractive Groups and stocks within Discretionary, Transportation, and Manufacturing: CD-05 Auto Parts Retailers, TR-05 Large-Cap Air Freight &amp; Logistics, TR-12 Large-Cap Trucking, and MF-31 Building Products and Fixtures.

U.S. Equity Strategy: Healthy Sector Rotations Continue

<p>As the market churns in a one step forward, one step back fashion, we remain in wait-and-see mode as to whether recent improvements in cyclical value areas of the market have staying power. Considering the lack of breakouts or breakdowns in key cyclical areas of the market, our neutral outlook remains intact. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary, Financials, and Manufacturing: Retailers, Auto Parts, Canadian Banks, and Building Products and Fixtures.</p>

As the market churns in a one step forward, one step back fashion, we remain in wait-and-see mode as to whether recent improvements in cyclical value areas of the market have staying power. Considering the lack of breakouts or breakdowns in key cyclical areas of the market, our neutral outlook remains intact. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary, Financials, and Manufacturing: Retailers, Auto Parts, Canadian Banks, and Building Products and Fixtures.

U.S. Equity Strategy: One Step Forward, One Step Back

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Installed Building Products / Equity Bottom-Up

<ul><li>Installed Building Products (IBP) has showcased robust financial results for the second quarter of 2025, reflecting its operational strength and strategic positioning in a challenging market landscape.</li><li>The company reported a consolidated net revenue increase of 3% year-over-year to $760 million, setting a record for the second quarter.</li><li>This growth was largely driven by a 9% increase in commercial same-branch sales, despite a single-digit decline in residential sales.</li></ul>

Installed Building Products (IBP) has showcased robust financial results for the second quarter of 2025, reflecting its operational strength and strategic positioning in a challenging market landscape.The company reported a consolidated net revenue increase of 3% year-over-year to $760 million, setting a record for the second quarter.This growth was largely driven by a 9% increase in commercial same-branch sales, despite a single-digit decline in residential sales.

Installed Building Products (IBP): How Capital Discipline Powers Resilience in a Slow Housing Market!

<ul><li>Installed Building Products (IBP) reported its first quarter 2025 financial results, reflecting mixed performance amidst a challenging macroeconomic landscape affecting the construction industry.</li><li>The company's performance was impacted by housing market dynamics and adverse weather conditions, although strategic initiatives and a strong operating framework provided some balance.</li><li>On the positive side, IBP maintained a solid financial base with significant cash flow, highlighting its capacity for growth via acquisitions.</li></ul>

Installed Building Products (IBP) reported its first quarter 2025 financial results, reflecting mixed performance amidst a challenging macroeconomic landscape affecting the construction industry.The company's performance was impacted by housing market dynamics and adverse weather conditions, although strategic initiatives and a strong operating framework provided some balance.On the positive side, IBP maintained a solid financial base with significant cash flow, highlighting its capacity for growth via acquisitions.

Installed Building Products (IBP): Its Efforts Towards Expansion in Heavy Commercial Business & Other Major Drivers!

<ul><li>Installed Building Products reported mixed results for the fourth quarter and fiscal year 2024, reflecting both opportunities and challenges in its various segments.</li><li>During the fiscal year, the company achieved record revenues and profitability, driven by organic growth across its residential markets and a series of acquisitions that expanded its geographic footprint.</li><li>Positive aspects from the earnings discussion include the robust performance in the residential end markets, particularly in single-family and multifamily installations.</li></ul>

Installed Building Products reported mixed results for the fourth quarter and fiscal year 2024, reflecting both opportunities and challenges in its various segments.During the fiscal year, the company achieved record revenues and profitability, driven by organic growth across its residential markets and a series of acquisitions that expanded its geographic footprint.Positive aspects from the earnings discussion include the robust performance in the residential end markets, particularly in single-family and multifamily installations.

Installed Building Products’ (IBP) Aggressive Acquisition Spree Is Reinventing the Installation Industry!

United States

Installed Building Products Inc installs residential insulation in the United States.  The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors.

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Installed Building Products (IBP US)

U.S. Equity Strategy: Healthy Sector Rotations Continue

The rotation out of stay-at-home/COVID-19 beneficiary stocks and into reopening/economically sensitive stocks that we highlighted last week has...

Vermilion Research

U.S. Equity Strategy: One Step Forward, One Step Back

As the market churns in a one step forward, one step back fashion, we remain in wait-and-see mode as to whether recent improvements in cyclical...

Vermilion Research

Installed Building Products (IBP): How Capital Discipline Powers Resilience in a Slow Housing Market!

Installed Building Products (IBP) has showcased robust financial results for the second quarter of 2025, reflecting its operational strength and...

Baptista Research

Installed Building Products (IBP): Its Efforts Towards Expansion in Heavy Commercial Business & Other Major Drivers!

Installed Building Products (IBP) reported its first quarter 2025 financial results, reflecting mixed performance amidst a challenging...

Baptista Research

Installed Building Products’ (IBP) Aggressive Acquisition Spree Is Reinventing the Installation Industry!

Installed Building Products reported mixed results for the fourth quarter and fiscal year 2024, reflecting both opportunities and challenges in...

Baptista Research

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