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

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

Other analysts have also issued research reports about the stock. Evercore ISI lifted their price target on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada lifted their target price on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Stephens reaffirmed an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Truist Financial raised their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group boosted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $254.40.

Installed Building Products Price Performance

Installed Building Products stock opened at $227.69 on Thursday. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average price of $231.40 and a 200 day moving average price of $225.47. Installed Building Products has a 12-month low of $115.25 and a 12-month high of $281.04. The stock has a market cap of $6.43 billion, a P/E ratio of 25.41 and a beta of 1.95.

Hedge Funds Weigh In On Installed Building Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in Installed Building Products in the first quarter valued at $29,000. BNP Paribas Financial Markets boosted its stake in shares of Installed Building Products by 11.8% in the 1st quarter. BNP Paribas Financial Markets now owns 29,278 shares of the construction company’s stock valued at $7,575,000 after buying an additional 3,096 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Installed Building Products by 0.7% during the first quarter. Texas Permanent School Fund Corp now owns 20,517 shares of the construction company’s stock worth $5,308,000 after buying an additional 147 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Installed Building Products by 5.3% during the first quarter. Illinois Municipal Retirement Fund now owns 13,686 shares of the construction company’s stock worth $3,541,000 after buying an additional 690 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new stake in Installed Building Products in the first quarter valued at approximately $564,000. 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.