Installed Building Products (NYSE:IBP) Upgraded at StockNews.com

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a report issued on Monday morning.

IBP has been the topic of several other research reports. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. DA Davidson decreased 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 note on Friday, November 8th. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. 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, November 22nd. Finally, The Goldman Sachs Group decreased their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products presently has a consensus rating of “Hold” and an average price target of $240.40.

Installed Building Products Stock Down 3.0 %

Shares of IBP stock opened at $178.14 on Monday. The stock has a market cap of $5.01 billion, a P/E ratio of 19.79 and a beta of 1.99. Installed Building Products has a 52 week low of $169.02 and a 52 week high of $281.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The company’s fifty day simple moving average is $189.71 and its two-hundred day simple moving average is $213.61.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds have recently added to or reduced their stakes in IBP. Creative Planning grew its stake in Installed Building Products by 39.6% in the 3rd quarter. Creative Planning now owns 7,712 shares of the construction company’s stock worth $1,899,000 after acquiring an additional 2,187 shares in the last quarter. NBC Securities Inc. grew its stake in Installed Building Products by 6.4% in the 3rd quarter. NBC Securities Inc. now owns 1,784 shares of the construction company’s stock worth $439,000 after acquiring an additional 108 shares in the last quarter. Bfsg LLC bought a new position in Installed Building Products in the 3rd quarter worth about $1,048,000. nVerses Capital LLC grew its stake in Installed Building Products by 38.5% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the construction company’s stock worth $443,000 after acquiring an additional 500 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Installed Building Products in the 3rd quarter worth about $29,000. 99.61% of the stock is currently owned by institutional investors.

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.