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

StockNews.com lowered shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Other analysts have also issued research reports about the company. The Goldman Sachs Group boosted their target price on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Truist Financial boosted their target price on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Jefferies Financial Group boosted their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their target price on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their price target on shares of 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. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $254.40.

Installed Building Products Trading Up 0.0 %

Shares of Installed Building Products stock opened at $216.97 on Wednesday. The stock has a market cap of $6.13 billion, a P/E ratio of 24.22 and a beta of 1.94. The stock’s 50 day simple moving average is $231.24 and its 200-day simple moving average is $225.40. Installed Building Products has a 1-year low of $115.25 and a 1-year high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.77 by $0.13. The firm had revenue of $737.60 million for the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. Analysts predict that Installed Building Products will post 11 EPS for the current fiscal year.

Hedge Funds Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently modified their holdings of IBP. Swedbank AB acquired a new position in shares of Installed Building Products during the first quarter worth $96,248,000. Price T Rowe Associates Inc. MD boosted its stake in Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after acquiring an additional 183,696 shares in the last quarter. Millennium Management LLC boosted its stake in Installed Building Products by 395.3% in the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after acquiring an additional 114,259 shares in the last quarter. Leeward Investments LLC MA acquired a new position in Installed Building Products in the third quarter valued at $17,972,000. Finally, Renaissance Technologies LLC boosted its stake in Installed Building Products by 2,912.0% in the second quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock valued at $15,488,000 after acquiring an additional 72,800 shares in the last quarter. Institutional investors and hedge funds 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.