Installed Building Products (NYSE:IBP) Reaches New 52-Week Low – Here’s What Happened

Installed Building Products, Inc. (NYSE:IBP)’s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $162.20 and last traded at $165.35, with a volume of 281189 shares traded. The stock had previously closed at $165.50.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. DA Davidson dropped their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a report on Friday, November 8th. Evercore ISI lowered shares of Installed Building Products from an “outperform” rating to an “underperform” rating and decreased their price target for the company from $238.00 to $206.00 in a report on Monday, December 16th. JPMorgan Chase & Co. upped their price objective on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, StockNews.com upgraded shares of Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two equities 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $240.40.

Installed Building Products Price Performance

The stock has a market cap of $4.65 billion, a P/E ratio of 18.37 and a beta of 1.99. The company’s 50 day moving average price is $184.10 and its 200-day moving average price is $209.74. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. GHP Investment Advisors Inc. increased its stake in shares of Installed Building Products by 185.7% in the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after buying an additional 78 shares during the period. Curio Wealth LLC acquired a new position in shares of Installed Building Products in the fourth quarter worth approximately $30,000. McIlrath & Eck LLC boosted its holdings in Installed Building Products by 32.3% in the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after acquiring an additional 61 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after acquiring an additional 140 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after purchasing an additional 272 shares during the period. 99.61% of the stock is owned by institutional investors.

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.