Short Interest in Installed Building Products, Inc. (NYSE:IBP) Increases By 7.4%

Installed Building Products, Inc. (NYSE:IBP) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,460,000 shares, an increase of 7.4% from the January 15th total of 1,360,000 shares. Currently, 6.2% of the company’s stock are short sold. Based on an average daily volume of 306,000 shares, the days-to-cover ratio is currently 4.8 days.

Installed Building Products Stock Performance

Shares of NYSE:IBP traded down $4.34 during midday trading on Tuesday, hitting $173.73. The company’s stock had a trading volume of 400,942 shares, compared to its average volume of 312,382. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 19.30 and a beta of 1.99. The stock’s 50 day simple moving average is $187.49 and its 200 day simple moving average is $211.53. Installed Building Products has a fifty-two week low of $169.02 and a fifty-two week high of $281.04. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99.

Analyst Ratings Changes

Several research firms have recently commented on IBP. The Goldman Sachs Group lowered their price target on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from $203.00 to $197.00 in a report on Friday, November 8th. DA Davidson lowered their target price 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. JPMorgan Chase & Co. increased their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $240.40.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in the business. McIlrath & Eck LLC lifted its stake in shares of Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after buying an additional 61 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in shares of Installed Building Products in the fourth quarter valued at about $90,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Installed Building Products by 5.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 103,901 shares of the construction company’s stock valued at $18,209,000 after buying an additional 5,194 shares during the period. Voloridge Investment Management LLC lifted its stake in shares of Installed Building Products by 471.8% in the fourth quarter. Voloridge Investment Management LLC now owns 80,177 shares of the construction company’s stock valued at $14,051,000 after buying an additional 66,156 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Installed Building Products in the fourth quarter valued at about $641,000. 99.61% of the stock is owned by institutional investors and hedge funds.

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.