Installed Building Products (NYSE:IBP) Lowered 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 Tuesday.

Other equities analysts have also issued research reports about the company. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price target for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Jefferies Financial Group raised their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI increased their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. DA Davidson lowered their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $253.70.

Installed Building Products Price Performance

Shares of NYSE IBP traded down $10.34 during trading on Tuesday, reaching $225.42. The company had a trading volume of 334,715 shares, compared to its average volume of 295,328. Installed Building Products has a 52 week low of $145.13 and a 52 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. The business’s 50 day moving average price is $230.91 and its 200-day moving average price is $222.92. The stock has a market cap of $6.34 billion, a PE ratio of 25.05 and a beta of 1.95.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of IBP. Swedbank AB acquired a new position in Installed Building Products during the 1st quarter worth approximately $96,248,000. 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 purchasing an additional 367,628 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new position in shares of Installed Building Products in the 3rd quarter valued at about $54,499,000. Price T Rowe Associates Inc. MD grew 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 purchasing an additional 183,696 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Installed Building Products in the third quarter valued at $34,635,000. 99.61% of the stock is currently owned by institutional investors.

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.