Installed Building Products (NYSE:IBP) Upgraded to “Strong-Buy” at StockNews.com

Installed Building Products (NYSE:IBP – Get Rating) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Monday.

IBP has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating and raised their target price for the stock from $90.00 to $124.00 in a research note on Tuesday, January 10th. Royal Bank of Canada lifted their price objective on shares of Installed Building Products from $79.00 to $85.00 and gave the company an “underperform” rating in a research report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Installed Building Products has a consensus rating of “Hold” and a consensus target price of $102.30.

Installed Building Products Price Performance

NYSE IBP opened at $109.44 on Monday. Installed Building Products has a 12 month low of $69.44 and a 12 month high of $121.60. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 14.10 and a beta of 1.69. The company’s 50 day moving average is $107.66 and its two-hundred day moving average is $92.92. The company has a current ratio of 2.70, a quick ratio of 2.16 and a debt-to-equity ratio of 1.70.

Insider Buying and Selling

In other Installed Building Products news, COO Jay P. Elliott sold 4,500 shares of Installed Building Products stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $113.77, for a total transaction of $511,965.00. Following the completion of the transaction, the chief operating officer now directly owns 32,490 shares of the company’s stock, valued at $3,696,387.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Installed Building Products news, CEO Jeffrey W. Edwards sold 50,000 shares of Installed Building Products stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $115.91, for a total transaction of $5,795,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,591,194 shares of the company’s stock, valued at $184,435,296.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jay P. Elliott sold 4,500 shares of Installed Building Products stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $113.77, for a total transaction of $511,965.00. Following the transaction, the chief operating officer now directly owns 32,490 shares of the company’s stock, valued at $3,696,387.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,826 shares of company stock worth $13,478,546. Insiders own 17.90% of the company’s stock.

Institutional Trading of Installed Building Products

A number of large investors have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its stake in shares of Installed Building Products by 3.8% during the fourth quarter. Voya Investment Management LLC now owns 21,541 shares of the construction company’s stock valued at $1,844,000 after purchasing an additional 785 shares during the period. Adams Wealth Management purchased a new stake in shares of Installed Building Products during the fourth quarter valued at $814,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Installed Building Products during the fourth quarter valued at $49,000. Ascent Group LLC purchased a new stake in shares of Installed Building Products during the fourth quarter valued at $214,000. Finally, Alliancebernstein L.P. boosted its stake in shares of Installed Building Products by 4.7% during the fourth quarter. Alliancebernstein L.P. now owns 43,902 shares of the construction company’s stock valued at $3,758,000 after purchasing an additional 1,952 shares during the period. 77.90% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Company Profile

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Installed Building Products, Inc engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.