Installed Building Products (NYSE:IBP) Upgraded to “Buy” at StockNews.com

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

IBP has been the subject of several other reports. DA Davidson lowered their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their target price for the company from $238.00 to $206.00 in a research note on Monday, December 16th. The Goldman Sachs Group lowered their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Seaport Res Ptn downgraded 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 downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $240.40.

Installed Building Products Stock Down 2.4 %

Shares of NYSE IBP opened at $173.73 on Wednesday. Installed Building Products has a 12-month low of $169.02 and a 12-month high of $281.04. The company has a market cap of $4.89 billion, a P/E ratio of 19.30 and a beta of 1.99. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock has a fifty day moving average price of $187.49 and a 200 day moving average price of $211.53.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds have recently bought and sold shares of the company. Arizona State Retirement System grew its stake in Installed Building Products by 0.8% in the fourth quarter. Arizona State Retirement System now owns 6,966 shares of the construction company’s stock worth $1,221,000 after purchasing an additional 56 shares in the last quarter. McIlrath & Eck LLC grew its stake in Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after purchasing an additional 61 shares in the last quarter. Dana Investment Advisors Inc. grew its stake in Installed Building Products by 0.9% in the fourth quarter. Dana Investment Advisors Inc. now owns 7,778 shares of the construction company’s stock worth $1,363,000 after purchasing an additional 71 shares in the last quarter. State of Wyoming grew its stake in Installed Building Products by 10.1% in the fourth quarter. State of Wyoming now owns 840 shares of the construction company’s stock worth $147,000 after purchasing an additional 77 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its stake in Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. 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.