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

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

A number of other research analysts have also recently weighed in on IBP. DA Davidson dropped their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. 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 report on Friday, November 22nd. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price objective for the company from $238.00 to $206.00 in a report on Monday, December 16th. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price target for the company from $203.00 to $197.00 in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $240.40.

Installed Building Products Trading Down 3.6 %

Shares of Installed Building Products stock opened at $198.74 on Friday. The stock has a fifty day moving average price of $196.10 and a 200-day moving average price of $217.24. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The firm has a market cap of $5.59 billion, a PE ratio of 22.08 and a beta of 1.98. Installed Building Products has a 1 year low of $169.02 and a 1 year high of $281.04.

Institutional Trading of Installed Building Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its position in shares of 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 purchasing an additional 96,780 shares in the last quarter. FMR LLC boosted its stake in Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after buying an additional 367,628 shares during the period. Geode Capital Management LLC grew its position in Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after buying an additional 23,179 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Installed Building Products by 25.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 412,371 shares of the construction company’s stock worth $72,268,000 after acquiring an additional 83,205 shares during the last quarter. Finally, Swedbank AB raised its holdings in shares of Installed Building Products by 26.4% in the 4th quarter. Swedbank AB now owns 330,000 shares of the construction company’s stock valued at $57,832,000 after acquiring an additional 69,000 shares in the last quarter. Institutional investors own 99.61% of the company’s stock.

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.