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

Installed Building Products (NYSE:IBP) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other brokerages also recently weighed in on IBP. DA Davidson cut their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Evercore ISI lifted their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Jefferies Financial Group upped their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Truist Financial raised their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, Stephens restated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $252.30.

Installed Building Products Stock Performance

NYSE:IBP traded down $8.10 during mid-day trading on Friday, hitting $199.88. The stock had a trading volume of 354,601 shares, compared to its average volume of 294,969. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The company has a 50 day simple moving average of $230.77 and a 200-day simple moving average of $224.23. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 22.21 and a beta of 1.95. Installed Building Products has a 52 week low of $138.37 and a 52 week high of $281.04.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Swedbank AB acquired a new position in shares of Installed Building Products in the 1st quarter worth $96,248,000. FMR LLC boosted its position in shares of Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after purchasing an additional 367,628 shares during the period. Summit Partners Public Asset Management LLC purchased a new position in Installed Building Products in the 3rd quarter worth about $54,499,000. Price T Rowe Associates Inc. MD increased its stake 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 worth $51,107,000 after purchasing an additional 183,696 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in Installed Building Products during the 3rd quarter worth about $34,635,000. Institutional investors own 99.61% of the company’s stock.

About Installed Building Products

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.