Installed Building Products (NYSE:IBP) Stock Rating Upgraded by StockNews.com

Installed Building Products (NYSE:IBP) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

A number of other research analysts have also recently commented on the stock. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. The Goldman Sachs Group dropped their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. DA Davidson lowered their price objective on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price target for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $240.40.

Installed Building Products Stock Down 2.4 %

IBP stock opened at $173.73 on Wednesday. Installed Building Products has a 1-year low of $169.02 and a 1-year high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The company’s 50 day moving average is $187.49 and its 200 day moving average is $211.53. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 19.30 and a beta of 1.99.

Institutional Investors Weigh In On Installed Building Products

A number of large investors have recently made changes to their positions in IBP. Vanguard Group Inc. increased its holdings in Installed Building Products by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after acquiring an additional 16,597 shares in the last quarter. State Street Corp raised its stake in Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after purchasing an additional 96,780 shares during the period. FIL Ltd raised its stake in Installed Building Products by 14.0% during the 4th quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock valued at $182,091,000 after purchasing an additional 127,215 shares during the period. FMR LLC increased its stake in Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after acquiring an additional 367,628 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Installed Building Products by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after acquiring an additional 10,553 shares during the last quarter. 99.61% of the stock is currently owned by 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.