Installed Building Products, Inc. (NYSE:IBP - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $168.03 and last traded at $170.64, with a volume of 7381 shares. The stock had previously closed at $173.98.
Analyst Ratings Changes
IBP has been the subject of a number of research reports. DA Davidson cut their target price on shares of Installed Building Products from $275.00 to $260.00 and set a "buy" rating for the company in a research note on Friday, November 8th. The Goldman Sachs Group cut their target price on shares of Installed Building Products from $262.00 to $228.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Evercore ISI cut shares of Installed Building Products from an "outperform" rating to an "underperform" rating and dropped their price objective for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Royal Bank of Canada downgraded shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and cut their price objective for the company from $203.00 to $197.00 in a report on Friday, November 8th. Finally, StockNews.com raised shares of Installed Building Products from a "hold" rating to a "buy" rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $240.40.
Check Out Our Latest Research Report on IBP
Installed Building Products Stock Down 3.7 %
The firm's 50-day moving average price is $185.35 and its 200 day moving average price is $210.57. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 18.36 and a beta of 1.99. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.
Hedge Funds Weigh In On Installed Building Products
A number of institutional investors have recently added to or reduced their stakes in IBP. Creative Planning increased its position in Installed Building Products by 39.6% during the 3rd quarter. Creative Planning now owns 7,712 shares of the construction company's stock worth $1,899,000 after purchasing an additional 2,187 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Installed Building Products during the 3rd quarter worth approximately $257,000. Moody Aldrich Partners LLC acquired a new position in Installed Building Products during the 3rd quarter worth approximately $3,980,000. Arkadios Wealth Advisors increased its position in Installed Building Products by 33.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,398 shares of the construction company's stock worth $837,000 after purchasing an additional 853 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Installed Building Products during the 3rd quarter worth approximately $414,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.
Installed Building Products Company Profile
(
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Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.
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