Installed Building Products (NYSE:IBP) Rating Increased to Buy at StockNews.com

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

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group raised their price target on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” 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 note on Monday, August 5th. Evercore ISI raised their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada boosted their price objective on Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. 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. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of “Moderate Buy” and a consensus price target of $254.40.

Installed Building Products Price Performance

Shares of NYSE IBP traded down $8.40 during trading hours on Tuesday, hitting $234.56. 164,745 shares of the stock were exchanged, compared to its average volume of 287,682. Installed Building Products has a 1-year low of $106.01 and a 1-year high of $281.04. The company has a market cap of $6.67 billion, a PE ratio of 26.53 and a beta of 1.94. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08. The company’s fifty day simple moving average is $229.77 and its two-hundred day simple moving average is $226.34.

Installed Building Products (NYSE:IBP) last issued its earnings results on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $737.60 million for the quarter, compared to the consensus estimate of $743.86 million. On average, sell-side analysts predict that Installed Building Products will post 11.06 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Diversified Trust Co grew its position in Installed Building Products by 2.3% in the 2nd quarter. Diversified Trust Co now owns 2,021 shares of the construction company’s stock valued at $416,000 after purchasing an additional 46 shares during the period. CWM LLC raised its holdings in shares of Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after acquiring an additional 62 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Installed Building Products by 2.5% in the 2nd quarter. Arkadios Wealth Advisors now owns 2,545 shares of the construction company’s stock valued at $523,000 after acquiring an additional 63 shares in the last quarter. Xponance Inc. boosted its stake in Installed Building Products by 5.3% during the 2nd quarter. Xponance Inc. now owns 1,519 shares of the construction company’s stock valued at $312,000 after purchasing an additional 76 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Installed Building Products by 50.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 263 shares of the construction company’s stock worth $68,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds 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.