StockNews.com Downgrades Installed Building Products (NYSE:IBP) to Hold

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

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a "sector perform" rating in a report on Friday, August 2nd. Truist Financial upped their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a "hold" rating in a research report on Friday, August 2nd. Stephens reissued an "equal weight" rating and set a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. The Goldman Sachs Group lifted their price target on Installed Building Products from $260.00 to $295.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Finally, Evercore ISI upped their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $254.40.

Installed Building Products Stock Up 0.7 %

IBP stock traded up $1.42 during trading on Wednesday, reaching $216.86. 217,801 shares of the stock were exchanged, compared to its average volume of 288,696. The firm's 50 day moving average is $231.63 and its 200 day moving average is $225.66. The firm has a market cap of $6.17 billion, a P/E ratio of 24.36 and a beta of 1.94. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. Installed Building Products has a twelve month low of $109.93 and a twelve month high of $281.04.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The company had revenue of $737.60 million for the quarter, compared to analysts' expectations of $743.86 million. As a group, research analysts forecast that Installed Building Products will post 11.06 EPS for the current year.

Institutional Trading of Installed Building Products

A number of institutional investors have recently made changes to their positions in the stock. Diversified Trust Co boosted its holdings in shares of Installed Building Products by 4.7% during the first quarter. Diversified Trust Co now owns 1,975 shares of the construction company's stock worth $511,000 after purchasing an additional 89 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Installed Building Products in the first quarter worth $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Installed Building Products in the first quarter worth $850,000. Van ECK Associates Corp raised its position in shares of Installed Building Products by 17.6% in the 1st quarter. Van ECK Associates Corp now owns 14,904 shares of the construction company's stock worth $3,856,000 after purchasing an additional 2,234 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in Installed Building Products in the 1st quarter worth about $238,000. Hedge funds and other 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.