Installed Building Products (NYSE:IBP - Get Free Report) was downgraded by Evercore ISI from an "outperform" rating to an "underperform" rating in a research report issued on Monday, MarketBeat reports. They presently have a $206.00 price objective on the construction company's stock, down from their previous price objective of $238.00. Evercore ISI's price target would indicate a potential upside of 5.53% from the company's previous close.
Several other research analysts have also commented on the stock. DA Davidson reduced their price objective 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. Royal Bank of Canada downgraded Installed Building Products from a "sector perform" rating to an "underperform" rating and reduced their price target for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Jefferies Financial Group raised their price objective on Installed Building Products from $240.00 to $252.00 and gave the stock a "hold" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. increased their price target on Installed Building Products from $236.00 to $241.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Finally, StockNews.com upgraded Installed Building Products from a "hold" rating to a "buy" rating in a research note on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $247.10.
Check Out Our Latest Stock Report on Installed Building Products
Installed Building Products Stock Down 1.7 %
IBP traded down $3.30 on Monday, hitting $195.20. The company had a trading volume of 268,634 shares, compared to its average volume of 291,329. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 21.69 and a beta of 1.93. The stock has a fifty day moving average price of $223.81 and a 200-day moving average price of $222.97. Installed Building Products has a 12-month low of $168.08 and a 12-month high of $281.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.
Hedge Funds Weigh In On Installed Building Products
Several institutional investors and hedge funds have recently modified their holdings of IBP. Franklin Resources Inc. raised its position in Installed Building Products by 13.0% during the third quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company's stock valued at $48,368,000 after acquiring an additional 22,367 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Installed Building Products during the 3rd quarter worth approximately $353,000. TD Private Client Wealth LLC grew its stake in shares of Installed Building Products by 15.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,034 shares of the construction company's stock worth $255,000 after purchasing an additional 137 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Installed Building Products by 121.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company's stock valued at $3,963,000 after purchasing an additional 8,815 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in shares of Installed Building Products in the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 99.61% of the company's stock.
About Installed Building Products
(
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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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