Installed Building Products (NYSE:IBP) Rating Lowered to “Hold” at Benchmark

Installed Building Products (NYSE:IBP) was downgraded by Benchmark from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, MarketBeat reports.

Several other equities analysts have also commented on IBP. Wells Fargo & Company increased their price objective on shares of Installed Building Products from $275.00 to $310.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Zacks Research cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Vertical Research began coverage on shares of Installed Building Products in a report on Monday, October 20th. They issued a “sell” rating for the company. Evercore set a $265.00 price target on Installed Building Products in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $245.00 price objective on shares of Installed Building Products in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Installed Building Products has an average rating of “Reduce” and an average price target of $239.45.

Installed Building Products Stock Up 0.2%

Shares of IBP opened at $334.73 on Wednesday. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.78 and a quick ratio of 2.28. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 36.03, a price-to-earnings-growth ratio of 7.80 and a beta of 1.92. Installed Building Products has a 1 year low of $150.83 and a 1 year high of $346.73. The business’s 50 day simple moving average is $288.25 and its 200-day simple moving average is $266.24.

Insider Transactions at Installed Building Products

In other Installed Building Products news, Director Michael H. Thomas sold 2,001 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total value of $536,828.28. Following the transaction, the director owned 8,373 shares of the company’s stock, valued at $2,246,308.44. This represents a 19.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IBP. HRT Financial LP lifted its holdings in Installed Building Products by 12.5% during the 4th quarter. HRT Financial LP now owns 16,646 shares of the construction company’s stock valued at $4,317,000 after buying an additional 1,844 shares in the last quarter. Callan Family Office LLC increased its position in shares of Installed Building Products by 5.6% during the fourth quarter. Callan Family Office LLC now owns 21,331 shares of the construction company’s stock worth $5,533,000 after acquiring an additional 1,124 shares during the period. Cibc World Markets Corp bought a new stake in shares of Installed Building Products during the fourth quarter valued at approximately $398,000. Renaissance Technologies LLC bought a new stake in shares of Installed Building Products during the fourth quarter valued at approximately $4,570,000. Finally, Bank of Montreal Can boosted its holdings in shares of Installed Building Products by 2,886.9% in the fourth quarter. Bank of Montreal Can now owns 76,614 shares of the construction company’s stock valued at $19,873,000 after purchasing an additional 74,049 shares during the period. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Company Profile

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.