Installed Building Products (NYSE:IBP) Stock Rating Lowered by StockNews.com

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

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group upped their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their price target on 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. Truist Financial boosted their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Stephens reiterated an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research report on Monday, August 5th. Finally, Evercore ISI increased their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $254.40.

Installed Building Products Stock Performance

Installed Building Products stock opened at $215.33 on Wednesday. The company has a market capitalization of $6.13 billion, a PE ratio of 24.36 and a beta of 1.94. The firm has a fifty day simple moving average of $231.48 and a two-hundred day simple moving average of $225.84. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. Installed Building Products has a twelve month low of $108.57 and a twelve month high of $281.04.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.77 by $0.13. The company had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. Research analysts expect that Installed Building Products will post 11.06 EPS for the current year.

Institutional Trading of Installed Building Products

Several hedge funds have recently bought and sold shares of IBP. Allspring Global Investments Holdings LLC purchased a new stake in Installed Building Products during the first quarter valued at $29,000. V Square Quantitative Management LLC bought a new position in Installed Building Products during the 3rd quarter valued at about $29,000. GHP Investment Advisors Inc. raised its position in Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after purchasing an additional 78 shares during the period. CWM LLC lifted its stake in Installed Building Products by 32.1% in the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Installed Building Products in the first quarter worth about $68,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

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.