Installed Building Products (NYSE:IBP) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Several other research analysts have also recently issued reports on the company. Royal Bank of Canada increased their price objective on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Stephens reaffirmed an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. The Goldman Sachs Group increased their target price on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Jefferies Financial Group increased their target price on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Finally, Truist Financial increased their target price on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $254.40.

Installed Building Products Stock Up 0.0 %

Shares of NYSE IBP opened at $216.97 on Wednesday. Installed Building Products has a 52-week low of $115.25 and a 52-week high of $281.04. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 24.22 and a beta of 1.94. The stock has a 50 day moving average price of $231.24 and a 200 day moving average price of $225.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08.

Installed Building Products (NYSE:IBP) last announced its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The company had revenue of $737.60 million for the quarter, compared to analysts’ expectations of $743.86 million. Sell-side analysts expect that Installed Building Products will post 11 earnings per share for the current year.

Hedge Funds Weigh In On Installed Building Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBP. Swedbank AB purchased a new position in Installed Building Products in the 1st quarter worth $96,248,000. Price T Rowe Associates Inc. MD raised its stake in shares of Installed Building Products by 1,328.2% during 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 during the last quarter. Millennium Management LLC raised its stake in shares of Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock valued at $29,446,000 after buying an additional 114,259 shares during the last quarter. Leeward Investments LLC MA acquired a new stake in shares of Installed Building Products during the 3rd quarter valued at about $17,972,000. Finally, Renaissance Technologies LLC grew its position in shares of Installed Building Products by 2,912.0% during the 2nd quarter. Renaissance Technologies LLC now owns 75,300 shares of the construction company’s stock valued at $15,488,000 after acquiring an additional 72,800 shares during the period. Hedge funds and other 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.