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

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

Several other research analysts have also recently issued reports on IBP. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. DA Davidson dropped their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Jefferies Financial Group increased their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $240.40.

Installed Building Products Stock Performance

IBP stock opened at $196.38 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. Installed Building Products has a 1 year low of $169.02 and a 1 year high of $281.04. The company has a market cap of $5.53 billion, a P/E ratio of 21.82 and a beta of 1.98. The stock’s fifty day moving average price is $197.38 and its 200-day moving average price is $217.88.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors have recently modified their holdings of IBP. Choreo LLC bought a new position in shares of Installed Building Products during the 2nd quarter valued at approximately $252,000. American Century Companies Inc. increased its position in Installed Building Products by 10.8% during the second quarter. American Century Companies Inc. now owns 36,262 shares of the construction company’s stock valued at $7,458,000 after acquiring an additional 3,546 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Installed Building Products by 13.6% in the second quarter. Envestnet Asset Management Inc. now owns 73,960 shares of the construction company’s stock valued at $15,212,000 after acquiring an additional 8,851 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Installed Building Products by 2,912.0% in the 2nd quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock worth $15,488,000 after acquiring an additional 72,800 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Installed Building Products during the 2nd quarter worth about $2,386,000. 99.61% of the stock is owned by institutional investors.

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.