Installed Building Products (NYSE:IBP) Upgraded at StockNews.com

StockNews.com upgraded shares of Installed Building Products (NYSE:IBP) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Several other research firms have also issued reports on IBP. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their target price for the company from $238.00 to $206.00 in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their price objective on Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. DA Davidson lowered their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Installed Building Products has an average rating of “Hold” and a consensus target price of $240.40.

Installed Building Products Stock Down 3.7 %

Shares of NYSE IBP opened at $165.23 on Wednesday. The company’s 50 day moving average price is $184.69 and its 200-day moving average price is $210.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products has a 52-week low of $163.14 and a 52-week high of $281.04. The company has a market capitalization of $4.65 billion, a P/E ratio of 18.36 and a beta of 1.99.

Hedge Funds Weigh In On Installed Building Products

Large investors have recently modified their holdings of the company. Creative Planning increased its stake in Installed Building Products by 39.6% during the 3rd quarter. Creative Planning now owns 7,712 shares of the construction company’s stock valued at $1,899,000 after purchasing an additional 2,187 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Installed Building Products during the third quarter worth about $257,000. Moody Aldrich Partners LLC acquired a new stake in shares of Installed Building Products in the 3rd quarter worth about $3,980,000. Arkadios Wealth Advisors lifted its position in Installed Building Products by 33.5% in the 3rd quarter. Arkadios Wealth Advisors now owns 3,398 shares of the construction company’s stock valued at $837,000 after acquiring an additional 853 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Installed Building Products in the 3rd quarter valued at about $414,000. 99.61% of the stock is currently owned by institutional investors.

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.