Brokerages Set Installed Building Products, Inc. (NYSE:IBP) Target Price at $254.40

Shares of Installed Building Products, Inc. (NYSE:IBP) have earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $254.40.

A number of brokerages recently issued reports on IBP. StockNews.com cut shares of Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada lifted their price objective on shares of 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. Stephens reaffirmed an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Evercore ISI boosted their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Truist Financial upped their price objective 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.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in Installed Building Products in the 1st quarter worth approximately $29,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Installed Building Products during the 1st quarter worth about $238,000. BNP Paribas Financial Markets boosted its holdings in Installed Building Products by 11.8% during the 1st quarter. BNP Paribas Financial Markets now owns 29,278 shares of the construction company’s stock valued at $7,575,000 after acquiring an additional 3,096 shares during the period. Texas Permanent School Fund Corp boosted its stake in shares of Installed Building Products by 0.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 20,517 shares of the construction company’s stock valued at $5,308,000 after buying an additional 147 shares during the period. Finally, Duality Advisers LP boosted its stake in shares of Installed Building Products by 32.2% in the 1st quarter. Duality Advisers LP now owns 13,899 shares of the construction company’s stock valued at $3,596,000 after buying an additional 3,389 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.

Installed Building Products Stock Down 4.7 %

NYSE:IBP opened at $217.04 on Tuesday. The company has a market capitalization of $6.13 billion, a PE ratio of 24.22 and a beta of 1.95. The firm’s 50-day moving average price is $231.34 and its 200-day moving average price is $225.41. Installed Building Products has a 1-year low of $115.25 and a 1-year high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59.

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.