Installed Building Products (NYSE:IBP – Get Free Report) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Thursday, Briefing.com reports. The firm presently has a $178.00 price target on the construction company’s stock, up from their previous price target of $146.00. The Goldman Sachs Group’s target price suggests a potential upside of 29.53% from the stock’s previous close.
Several other brokerages have also recently issued reports on IBP. Seaport Res Ptn reissued a “buy” rating on shares of Installed Building Products in a research report on Tuesday, August 1st. StockNews.com started coverage on shares of Installed Building Products in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Stephens raised their target price on shares of Installed Building Products from $140.00 to $168.00 and gave the company an “equal weight” rating in a report on Thursday, August 3rd. Truist Financial reduced their target price on shares of Installed Building Products from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Thursday, November 9th. Finally, Jefferies Financial Group reduced their target price on shares of Installed Building Products from $166.00 to $140.00 in a report on Thursday, October 12th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.33.
Installed Building Products Stock Down 1.3 %
Hedge Funds Weigh In On Installed Building Products
Hedge funds have recently modified their holdings of the business. Royce & Associates LP grew its position in Installed Building Products by 80.9% in the 2nd quarter. Royce & Associates LP now owns 35,023 shares of the construction company’s stock valued at $4,909,000 after buying an additional 15,662 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Installed Building Products by 25.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 958 shares of the construction company’s stock valued at $109,000 after buying an additional 197 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Installed Building Products in the 1st quarter valued at $857,000. Boulder Hill Capital Management LP purchased a new position in Installed Building Products in the 1st quarter valued at $821,000. Finally, Global Alpha Capital Management Ltd. grew its position in Installed Building Products by 3.8% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 192,541 shares of the construction company’s stock valued at $21,955,000 after buying an additional 7,015 shares during the last quarter. 82.62% of the stock is currently 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 continental United States. The company offers a range of insulation materials, such as fiberglass and cellulose, and spray foam insulation materials.
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