Installed Building Products (NYSE:IBP) Reaches New 1-Year Low – What’s Next?

Installed Building Products, Inc. (NYSE:IBP) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $168.03 and last traded at $170.64, with a volume of 7381 shares traded. The stock had previously closed at $173.98.

Analyst Ratings Changes

A number of research firms recently weighed in on IBP. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $238.00 to $206.00 in a report on Monday, December 16th. JPMorgan Chase & Co. increased their target price on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. DA Davidson reduced their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, The Goldman Sachs Group dropped their target price on shares of 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. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $240.40.

Installed Building Products Stock Performance

The stock’s 50 day moving average is $187.49 and its two-hundred day moving average is $211.53. The firm has a market capitalization of $4.74 billion, a P/E ratio of 18.70 and a beta of 1.99. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50.

Institutional Trading of Installed Building Products

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Installed Building Products by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after purchasing an additional 16,597 shares during the last quarter. State Street Corp lifted its stake in Installed Building Products by 8.4% in the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after buying an additional 96,780 shares during the period. FIL Ltd lifted its stake in Installed Building Products by 14.0% in the fourth quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock valued at $182,091,000 after buying an additional 127,215 shares during the period. FMR LLC boosted its holdings in Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after buying an additional 367,628 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Installed Building Products by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after buying an additional 10,553 shares during the period. Institutional investors and hedge funds 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.