Installed Building Products (NYSE:IBP) Rating Increased to Buy 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 Thursday.

Several other analysts have also commented on IBP. Truist Financial increased their price objective on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Evercore ISI increased their price target on Installed Building Products from $274.00 to $282.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. JPMorgan Chase & Co. cut their price target on Installed Building Products from $242.00 to $227.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Royal Bank of Canada increased their price target on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, Loop Capital increased their price target on Installed Building Products from $250.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Installed Building Products has an average rating of “Moderate Buy” and an average target price of $255.20.

Installed Building Products Stock Up 1.0 %

Installed Building Products stock opened at $222.31 on Thursday. The business has a fifty day moving average of $223.06 and a two-hundred day moving average of $227.62. The company has a quick ratio of 2.67, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The firm has a market cap of $6.32 billion, a P/E ratio of 25.15 and a beta of 1.93. Installed Building Products has a twelve month low of $106.01 and a twelve month high of $281.04.

Installed Building Products (NYSE:IBP) last posted its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.13. The company had revenue of $737.60 million during the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. On average, analysts forecast that Installed Building Products will post 11.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors and hedge funds have recently bought and sold shares of IBP. NBC Securities Inc. purchased a new stake in Installed Building Products in the fourth quarter valued at $25,000. Russell Investments Group Ltd. raised its holdings in shares of Installed Building Products by 280.6% in the fourth quarter. Russell Investments Group Ltd. now owns 137 shares of the construction company’s stock valued at $25,000 after buying an additional 101 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Installed Building Products by 253.7% in the fourth quarter. Hexagon Capital Partners LLC now owns 145 shares of the construction company’s stock valued at $27,000 after buying an additional 104 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Installed Building Products in the first quarter valued at about $29,000. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Installed Building Products in the fourth quarter valued at about $32,000. 99.61% of the stock is owned by hedge funds and other 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.