StockNews.com upgraded shares of Installed Building Products (NYSE:IBP - Free Report) from a hold rating to a buy rating in a report published on Wednesday.
IBP has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Royal Bank of Canada downgraded Installed Building Products from a "sector perform" rating to an "underperform" rating and lowered their price objective for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. DA Davidson lowered their price objective on 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. Evercore ISI downgraded Installed Building Products from an "outperform" rating to an "underperform" rating and lowered their price objective for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group lowered their price objective on 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $240.40.
Check Out Our Latest Stock Report on IBP
Installed Building Products Stock Down 3.7 %
IBP stock traded down $6.36 during trading on Wednesday, reaching $165.23. 375,464 shares of the stock were exchanged, compared to its average volume of 318,173. The firm's 50 day moving average is $185.35 and its 200 day moving average is $210.57. Installed Building Products has a twelve month low of $163.14 and a twelve month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The firm has a market cap of $4.65 billion, a P/E ratio of 18.36 and a beta of 1.99.
Hedge Funds Weigh In On Installed Building Products
Institutional investors have recently modified their holdings of the business. Arizona State Retirement System grew its holdings in Installed Building Products by 0.8% during the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company's stock valued at $1,221,000 after purchasing an additional 56 shares during the period. McIlrath & Eck LLC raised its position in shares of Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company's stock worth $44,000 after buying an additional 61 shares in the last quarter. Dana Investment Advisors Inc. raised its position in shares of Installed Building Products by 0.9% in the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company's stock worth $1,363,000 after buying an additional 71 shares in the last quarter. State of Wyoming raised its position in Installed Building Products by 10.1% during the fourth quarter. State of Wyoming now owns 840 shares of the construction company's stock valued at $147,000 after purchasing an additional 77 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company's stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. 99.61% of the stock is owned by institutional investors.
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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