StockNews.com Upgrades Installed Building Products (NYSE:IBP) to “Buy”

Installed Building Products (NYSE:IBP) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

Several other research firms have also recently commented on IBP. The Goldman Sachs Group increased their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Stephens reaffirmed an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Jefferies Financial Group lifted their price objective on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, DA Davidson cut their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Stock Down 3.8 %

Shares of NYSE IBP opened at $200.02 on Friday. Installed Building Products has a 12-month low of $138.37 and a 12-month high of $281.04. The firm’s 50-day simple moving average is $230.77 and its 200 day simple moving average is $224.15. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 22.22 and a beta of 1.95.

Hedge Funds Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently made changes to their positions in IBP. Geode Capital Management LLC lifted its holdings in Installed Building Products by 3.9% during the third quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after acquiring an additional 23,179 shares in the last quarter. Barclays PLC lifted its holdings in shares of Installed Building Products by 61.9% during the 3rd quarter. Barclays PLC now owns 97,711 shares of the construction company’s stock valued at $24,063,000 after purchasing an additional 37,347 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Installed Building Products by 366.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 854 shares of the construction company’s stock valued at $210,000 after purchasing an additional 671 shares in the last quarter. MML Investors Services LLC grew its position in shares of Installed Building Products by 6.4% in the 3rd quarter. MML Investors Services LLC now owns 9,053 shares of the construction company’s stock valued at $2,229,000 after purchasing an additional 544 shares during the period. Finally, Pier Capital LLC increased its stake in Installed Building Products by 25.2% during the 3rd quarter. Pier Capital LLC now owns 36,135 shares of the construction company’s stock worth $8,899,000 after purchasing an additional 7,280 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

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.