Installed Building Products (NYSE:IBP) Upgraded at StockNews.com

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

A number of other research firms have also issued reports on IBP. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price objective for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. DA Davidson reduced their price objective on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Finally, Jefferies Financial Group boosted their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $240.40.

Installed Building Products Trading Up 0.7 %

Shares of IBP stock opened at $206.20 on Friday. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 22.91 and a beta of 1.98. The company’s fifty day simple moving average is $196.92 and its two-hundred day simple moving average is $218.04. Installed Building Products has a 1 year low of $169.02 and a 1 year high of $281.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after purchasing an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in shares of Installed Building Products in the third quarter worth about $54,499,000. Wellington Management Group LLP bought a new stake in shares of Installed Building Products in the 3rd quarter valued at about $34,635,000. Millennium Management LLC lifted its stake in shares of Installed Building Products by 395.3% in the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after acquiring an additional 114,259 shares during the last quarter. Finally, State Street Corp boosted its holdings in Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after acquiring an additional 96,780 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

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.