Installed Building Products, Inc. (NYSE:IBP) is Pembroke Management LTD’s Largest Position

Pembroke Management LTD lessened its holdings in Installed Building Products, Inc. (NYSE:IBP) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 171,281 shares of the construction company’s stock after selling 2,083 shares during the period. Installed Building Products comprises approximately 5.5% of Pembroke Management LTD’s holdings, making the stock its biggest holding. Pembroke Management LTD’s holdings in Installed Building Products were worth $42,181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of Installed Building Products by 9.9% during the third quarter. Farther Finance Advisors LLC now owns 1,782 shares of the construction company’s stock worth $439,000 after purchasing an additional 160 shares in the last quarter. CacheTech Inc. grew its position in shares of Installed Building Products by 4.0% during the third quarter. CacheTech Inc. now owns 11,888 shares of the construction company’s stock worth $2,928,000 after buying an additional 455 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Installed Building Products by 29.3% in the third quarter. New York State Common Retirement Fund now owns 92,077 shares of the construction company’s stock worth $22,676,000 after buying an additional 20,860 shares during the last quarter. Jacobson & Schmitt Advisors LLC increased its stake in shares of Installed Building Products by 4.1% in the third quarter. Jacobson & Schmitt Advisors LLC now owns 37,797 shares of the construction company’s stock worth $9,308,000 after buying an additional 1,500 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Installed Building Products by 148.4% in the third quarter. US Bancorp DE now owns 2,809 shares of the construction company’s stock valued at $692,000 after acquiring an additional 1,678 shares in the last quarter. Institutional investors and hedge funds own 99.61% of the company’s stock.

Analyst Upgrades and Downgrades

IBP has been the subject of several recent analyst reports. Evercore ISI raised their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday. Stephens restated an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. The Goldman Sachs Group lifted their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group boosted their price target on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a 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 stock. Based on data from MarketBeat, Installed Building Products presently has a consensus rating of “Hold” and an average target price of $254.40.

Installed Building Products Price Performance

Shares of IBP opened at $216.85 on Friday. Installed Building Products, Inc. has a 12 month low of $115.25 and a 12 month high of $281.04. The company has a debt-to-equity ratio of 1.24, a current ratio of 3.08 and a quick ratio of 2.59. The stock has a fifty day moving average price of $231.24 and a 200 day moving average price of $225.39. The company has a market cap of $6.12 billion, a P/E ratio of 24.20 and a beta of 1.95.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 EPS for the quarter, topping the consensus estimate of $2.77 by $0.13. The business had revenue of $737.60 million during the quarter, compared to analyst estimates of $743.86 million. Installed Building Products had a net margin of 8.89% and a return on equity of 44.93%. On average, research analysts forecast that Installed Building Products, Inc. will post 11 earnings per share for the current year.

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.