Installed Building Products (NYSE:IBP) Rating Lowered to “Hold” at StockNews.com

Installed Building Products (NYSE:IBP) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other equities research analysts also recently commented on IBP. 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 research note on Friday, August 2nd. Jefferies Financial Group increased their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Truist Financial lifted their target price on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Stephens reiterated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Finally, Evercore ISI lifted their price objective on shares of 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $254.40.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $227.69 on Thursday. The firm has a market capitalization of $6.43 billion, a P/E ratio of 25.41 and a beta of 1.95. Installed Building Products has a 52 week low of $115.25 and a 52 week high of $281.04. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average price of $231.40 and a 200 day moving average price of $225.47.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors have recently modified their holdings of IBP. Allspring Global Investments Holdings LLC purchased a new position in Installed Building Products during the first quarter worth approximately $29,000. BNP Paribas Financial Markets increased its stake in shares of Installed Building Products by 11.8% during the first quarter. BNP Paribas Financial Markets now owns 29,278 shares of the construction company’s stock worth $7,575,000 after purchasing an additional 3,096 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Installed Building Products by 0.7% during the first quarter. Texas Permanent School Fund Corp now owns 20,517 shares of the construction company’s stock valued at $5,308,000 after acquiring an additional 147 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Installed Building Products by 5.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 13,686 shares of the construction company’s stock valued at $3,541,000 after purchasing an additional 690 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of Installed Building Products in the first quarter worth about $564,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.