Installed Building Products (NYSE:IBP) Rating Increased to Buy at StockNews.com

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

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. boosted 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. Evercore ISI lifted their target price on Installed Building Products from $271.00 to $272.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Jefferies Financial Group lifted their target price on Installed Building Products from $240.00 to $252.00 and gave the company a "hold" rating in a research report on Wednesday, October 9th. DA Davidson decreased their target price on Installed Building Products from $275.00 to $260.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. Finally, Royal Bank of Canada cut Installed Building Products from a "sector perform" rating to an "underperform" rating and decreased their target price for the company from $203.00 to $197.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Installed Building Products presently has an average rating of "Hold" and an average target price of $253.70.

Installed Building Products Stock Performance

Shares of IBP traded down $0.44 during midday trading on Wednesday, reaching $222.85. 175,853 shares of the stock were exchanged, compared to its average volume of 292,802. The company has a market cap of $6.27 billion, a P/E ratio of 24.81 and a beta of 1.93. The stock's 50 day simple moving average is $229.07 and its 200 day simple moving average is $222.90. Installed Building Products has a twelve month low of $152.06 and a twelve month high of $281.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Swedbank AB increased its holdings in Installed Building Products by 11.6% during the second quarter. Swedbank AB now owns 415,000 shares of the construction company's stock worth $85,357,000 after buying an additional 43,000 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Installed Building Products by 456.2% in the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company's stock valued at $784,000 after acquiring an additional 3,125 shares during the period. Summit Global Investments bought a new position in shares of Installed Building Products in the second quarter valued at approximately $1,146,000. Creative Planning lifted its position in Installed Building Products by 39.6% during the third quarter. Creative Planning now owns 7,712 shares of the construction company's stock valued at $1,899,000 after purchasing an additional 2,187 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC bought a new stake in Installed Building Products during the third quarter valued at approximately $54,499,000. Institutional investors own 99.61% of the company's stock.

About Installed Building Products

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.