StockNews.com Downgrades Installed Building Products (NYSE:IBP) to Hold

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

IBP has been the topic of a number of other reports. Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Jefferies Financial Group upped their price target on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped their target price on shares of 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 set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. Finally, Evercore ISI upped their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Installed Building Products has a consensus rating of “Hold” and an average price target of $254.40.

Installed Building Products Stock Performance

NYSE IBP opened at $216.85 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08. The stock’s fifty day moving average is $231.24 and its two-hundred day moving average is $225.40. The firm has a market capitalization of $6.12 billion, a P/E ratio of 24.20 and a beta of 1.95. Installed Building Products has a fifty-two week low of $115.25 and a fifty-two week high of $281.04.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.13. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. The firm had revenue of $737.60 million for the quarter, compared to analysts’ expectations of $743.86 million. On average, research analysts anticipate that Installed Building Products will post 11 earnings per share for the current year.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Investments Inc raised its stake in shares of Installed Building Products by 6.5% in the third quarter. Atria Investments Inc now owns 2,540 shares of the construction company’s stock valued at $625,000 after acquiring an additional 156 shares in the last quarter. Verdence Capital Advisors LLC acquired a new stake in Installed Building Products in the 3rd quarter valued at about $203,000. Leeward Investments LLC MA acquired a new stake in Installed Building Products in the 3rd quarter valued at about $17,972,000. PDS Planning Inc purchased a new position in shares of Installed Building Products in the 3rd quarter valued at about $211,000. Finally, Emerald Advisers LLC grew its position in shares of Installed Building Products by 2.7% during the third quarter. Emerald Advisers LLC now owns 54,656 shares of the construction company’s stock worth $13,460,000 after buying an additional 1,419 shares in the last quarter. Hedge funds and other institutional investors 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.