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

Installed Building Products (NYSE:IBP) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

Other equities research analysts have also recently issued research reports about the company. Stephens restated 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. Evercore ISI raised their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial boosted their price target on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada raised their price objective on Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upped their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Installed Building Products presently has an average rating of “Moderate Buy” and an average target price of $254.40.

Installed Building Products Stock Down 3.5 %

Shares of NYSE:IBP traded down $8.40 during midday trading on Tuesday, reaching $234.56. 164,745 shares of the company were exchanged, compared to its average volume of 287,682. The firm has a market cap of $6.67 billion, a PE ratio of 26.53 and a beta of 1.94. Installed Building Products has a fifty-two week low of $106.01 and a fifty-two week high of $281.04. The stock has a fifty day simple moving average of $229.77 and a two-hundred day simple moving average of $226.34. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.13. The firm had revenue of $737.60 million for 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, sell-side analysts forecast that Installed Building Products will post 11.06 earnings per share for the current year.

Institutional Trading of Installed Building Products

Several hedge funds and other institutional investors have recently modified their holdings of IBP. Swedbank AB bought a new stake in shares of Installed Building Products during the first quarter worth approximately $96,248,000. Price T Rowe Associates Inc. MD grew its holdings in Installed Building Products by 1,328.2% in the 1st 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 in the last quarter. Millennium Management LLC increased its position in Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after buying an additional 114,259 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Installed Building Products by 2,912.0% during the second quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock worth $15,488,000 after buying an additional 72,800 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Installed Building Products in the first quarter valued at about $17,806,000. Institutional investors own 99.61% of the company’s stock.

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.