Evercore ISI Downgrades Installed Building Products (NYSE:IBP) to Underperform

Installed Building Products (NYSE:IBP) was downgraded by investment analysts at Evercore ISI from an “outperform” rating to an “underperform” rating in a report issued on Monday,Briefing.com Automated Import reports. They currently have a $206.00 target price on the construction company’s stock, down from their prior target price of $238.00. Evercore ISI’s target price points to a potential upside of 3.78% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their target price on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Finally, DA Davidson dropped their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $247.10.

Installed Building Products Price Performance

IBP stock opened at $198.50 on Monday. The company has a market cap of $5.59 billion, a PE ratio of 22.06 and a beta of 1.93. 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 stock has a 50-day moving average price of $223.81 and a two-hundred day moving average price of $222.97. Installed Building Products has a 12-month low of $168.08 and a 12-month high of $281.04.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its stake in Installed Building Products by 13.0% during the third quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock worth $48,368,000 after purchasing an additional 22,367 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Installed Building Products in the 3rd quarter worth about $353,000. TD Private Client Wealth LLC boosted its holdings in shares of Installed Building Products by 15.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 1,034 shares of the construction company’s stock valued at $255,000 after buying an additional 137 shares during the period. Teachers Retirement System of The State of Kentucky grew its position in shares of Installed Building Products by 121.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock valued at $3,963,000 after buying an additional 8,815 shares during the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in Installed Building Products in the third quarter worth about $203,000. Institutional investors and hedge funds 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.