Installed Building Products (NYSE:IBP) Raised to "Buy" at StockNews.com

Installed Building Products (NYSE:IBP - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.

A number of other research firms also recently issued reports on IBP. Truist Financial boosted their price target on Installed Building Products from $235.00 to $240.00 and gave the company a "hold" rating in a research report on Friday, August 2nd. DA Davidson cut their price target on shares of Installed Building Products from $275.00 to $260.00 and set a "buy" rating on the stock in a report on Friday, November 8th. Royal Bank of Canada downgraded shares of Installed Building Products from a "sector perform" rating to an "underperform" rating and decreased their price objective for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Jefferies Financial Group raised their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a "hold" rating in a research note on Wednesday, October 9th. Finally, Stephens reaffirmed an "equal weight" rating and set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $252.30.

Installed Building Products Trading Down 3.9 %

NYSE:IBP traded down $8.10 during trading hours on Friday, reaching $199.88. 354,601 shares of the company were exchanged, compared to its average volume of 294,969. Installed Building Products has a 52-week low of $138.37 and a 52-week high of $281.04. The stock has a 50 day simple moving average of $230.77 and a 200 day simple moving average of $224.23. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 22.21 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Hedge Funds Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC bought a new stake in Installed Building Products in the first quarter valued at about $29,000. Russell Investments Group Ltd. increased its holdings in shares of Installed Building Products by 13,898.5% in the 1st quarter. Russell Investments Group Ltd. now owns 19,178 shares of the construction company's stock valued at $4,962,000 after acquiring an additional 19,041 shares during the last quarter. ProShare Advisors LLC lifted its stake in Installed Building Products by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,775 shares of the construction company's stock worth $1,235,000 after purchasing an additional 327 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Installed Building Products by 25.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 8,456 shares of the construction company's stock worth $2,188,000 after purchasing an additional 1,690 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in Installed Building Products during the first quarter valued at $817,000. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

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.

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