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

Installed Building Products (NYSE:IBP) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Other analysts also recently issued reports about the company. Truist Financial upped their price objective on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased 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. The Goldman Sachs Group increased 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. Stephens reiterated an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. Finally, Royal Bank of Canada increased their target price on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Installed Building Products presently has a consensus rating of “Moderate Buy” and an average target price of $254.40.

Installed Building Products Price Performance

Shares of IBP stock opened at $226.89 on Tuesday. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. Installed Building Products has a twelve month low of $106.01 and a twelve month high of $281.04. The company has a market cap of $6.45 billion, a P/E ratio of 25.67 and a beta of 1.94. The business has a fifty day simple moving average of $230.14 and a 200 day simple moving average of $226.34.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The business had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. On average, sell-side analysts forecast that Installed Building Products will post 11.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Installed Building Products during the first quarter worth approximately $29,000. V Square Quantitative Management LLC acquired a new stake in Installed Building Products during the third quarter worth approximately $29,000. CWM LLC grew its stake in Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares during the period. Headlands Technologies LLC acquired a new stake in Installed Building Products during the first quarter worth approximately $68,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Installed Building Products by 50.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock worth $68,000 after purchasing an additional 88 shares during the period. 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.