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

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

A number of other research firms have also commented on IBP. The Goldman Sachs Group increased their price objective on Installed Building Products from $260.00 to $295.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. Jefferies Financial Group raised their price target on shares of Installed Building Products from $239.00 to $250.00 and gave the stock a "hold" rating in a research note on Wednesday, July 17th. Benchmark boosted their price objective on shares of Installed Building Products from $250.00 to $270.00 and gave the company a "buy" rating in a research report on Tuesday, May 14th. Royal Bank of Canada raised their target price on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a "sector perform" rating in a research report on Friday, August 2nd. Finally, 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 report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $255.20.

Installed Building Products Price Performance

Shares of IBP stock traded down $0.73 during trading hours on Thursday, hitting $220.09. The company's stock had a trading volume of 125,434 shares, compared to its average volume of 299,095. The company has a current ratio of 3.08, a quick ratio of 2.67 and a debt-to-equity ratio of 1.24. The business has a fifty day moving average of $222.57 and a 200-day moving average of $227.55. Installed Building Products has a twelve month low of $106.01 and a twelve month high of $281.04. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 24.90 and a beta of 1.93.

Installed Building Products (NYSE:IBP - Get Free Report) last posted its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.13. The firm had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. As a group, equities research analysts anticipate that Installed Building Products will post 11.2 EPS for the current year.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBP. NBC Securities Inc. purchased a new stake in shares of Installed Building Products during the 4th quarter worth about $25,000. Russell Investments Group Ltd. grew its stake in Installed Building Products by 280.6% during the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company's stock worth $25,000 after buying an additional 101 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Installed Building Products by 253.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company's stock worth $27,000 after acquiring an additional 104 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Installed Building Products in the 1st quarter valued at $29,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Installed Building Products in the 4th quarter valued at $32,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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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