Installed Building Products (NYSE:IBP) Price Target Raised to $241.00 at JPMorgan Chase & Co.

Installed Building Products (NYSE:IBP - Get Free Report) had its price objective upped by equities researchers at JPMorgan Chase & Co. from $236.00 to $241.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the construction company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 12.63% from the stock's previous close.

A number of other research analysts also recently commented on the stock. Royal Bank of Canada downgraded shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and cut their target price for the company from $203.00 to $197.00 in a research report on Friday, November 8th. StockNews.com raised Installed Building Products from a "hold" rating to a "buy" rating in a report on Friday, November 15th. The Goldman Sachs Group boosted their price target on Installed Building Products from $260.00 to $295.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Evercore ISI lifted their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Finally, Truist Financial upped their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the company a "hold" rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $253.70.

Installed Building Products Trading Up 1.3 %

Shares of NYSE IBP traded up $2.73 during mid-day trading on Friday, reaching $213.97. The company had a trading volume of 5,827 shares, compared to its average volume of 292,838. The business's 50-day moving average is $230.84 and its 200-day moving average is $223.31. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products has a 52 week low of $144.15 and a 52 week high of $281.04. The stock has a market cap of $6.02 billion, a price-to-earnings ratio of 23.68 and a beta of 1.95.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. V Square Quantitative Management LLC acquired a new position in shares of Installed Building Products during the third quarter worth about $29,000. GHP Investment Advisors Inc. boosted its position in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock worth $30,000 after acquiring an additional 78 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company's stock valued at $57,000 after acquiring an additional 140 shares during the last quarter. CWM LLC lifted its stake in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company's stock worth $52,000 after purchasing an additional 62 shares during the last quarter. Finally, Quarry LP boosted its holdings in Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company's stock valued at $78,000 after purchasing an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company's stock.

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, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.