StockNews.com Downgrades Installed Building Products (NYSE:IBP) to Hold

Installed Building Products (NYSE:IBP) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

IBP has been the topic of several other reports. Evercore ISI upped their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Stephens reissued an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. Royal Bank of Canada raised their price target on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Truist Financial boosted their price objective on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group raised their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Installed Building Products has an average rating of “Hold” and an average price target of $254.40.

Installed Building Products Stock Performance

Shares of IBP opened at $216.90 on Wednesday. Installed Building Products has a 12-month low of $109.93 and a 12-month high of $281.04. The stock has a market cap of $6.12 billion, a P/E ratio of 24.21 and a beta of 1.94. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24. The company has a 50-day moving average of $231.56 and a two-hundred day moving average of $225.60.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.13. The firm had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. As a group, research analysts predict that Installed Building Products will post 11.06 EPS for the current fiscal year.

Institutional Trading of Installed Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in IBP. Vanguard Group Inc. grew its position in Installed Building Products by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after acquiring an additional 18,890 shares during the period. Swedbank AB grew its holdings in shares of Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after purchasing an additional 43,000 shares during the period. Bank of New York Mellon Corp increased its position in Installed Building Products by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock worth $46,572,000 after purchasing an additional 4,943 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Installed Building Products by 1,328.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after buying an additional 183,696 shares during the period. Finally, Millennium Management LLC raised its holdings in Installed Building Products by 395.3% in the second quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after buying an additional 114,259 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.