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

StockNews.com downgraded shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other research firms have also recently issued reports on IBP. The Goldman Sachs Group raised their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Jefferies Financial Group raised their price target on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Stephens reaffirmed an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Truist Financial raised their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Evercore ISI raised their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Installed Building Products has an average rating of “Hold” and a consensus target price of $254.40.

Installed Building Products Price Performance

Shares of IBP opened at $216.85 on Wednesday. The company has a market cap of $6.12 billion, a price-to-earnings ratio of 24.20 and a beta of 1.95. Installed Building Products has a twelve month low of $115.25 and a twelve month high of $281.04. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The company has a 50 day moving average of $231.24 and a two-hundred day moving average of $225.40.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.13. The company had revenue of $737.60 million during 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%. As a group, analysts predict that Installed Building Products will post 11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Installed Building Products

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares in the last quarter. Duality Advisers LP boosted its position in Installed Building Products by 32.2% during the first quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock worth $3,596,000 after purchasing an additional 3,389 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in Installed Building Products during the first quarter worth approximately $564,000. Swedbank AB boosted its position in Installed Building Products by 11.6% during the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after purchasing an additional 43,000 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Installed Building Products by 456.2% during the second quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock worth $784,000 after purchasing an additional 3,125 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.