Analysts Set Installed Building Products, Inc. (NYSE:IBP) PT at $240.40

Installed Building Products, Inc. (NYSE:IBP) has earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $240.40.

A number of analysts recently commented on IBP shares. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $238.00 to $206.00 in a report on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. 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 decreased their target price on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, November 8th.

Installed Building Products Stock Performance

Shares of Installed Building Products stock opened at $171.29 on Thursday. The business’s fifty day simple moving average is $186.04 and its 200 day simple moving average is $210.85. The firm has a market capitalization of $4.82 billion, a P/E ratio of 19.03 and a beta of 1.99. Installed Building Products has a 12 month low of $167.24 and a 12 month high of $281.04. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Hedge Funds Weigh In On Installed Building Products

Hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky grew its position in shares of Installed Building Products by 121.1% in the third 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 purchasing an additional 8,815 shares in the last quarter. Summit Partners Public Asset Management LLC purchased a new position in shares of Installed Building Products in the third quarter valued at $54,499,000. Creative Planning grew its position in shares of Installed Building Products by 39.6% in the third quarter. Creative Planning now owns 7,712 shares of the construction company’s stock valued at $1,899,000 after purchasing an additional 2,187 shares in the last quarter. Natixis Advisors LLC boosted its stake in Installed Building Products by 6.4% during the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after buying an additional 4,451 shares during the period. Finally, Citigroup Inc. boosted its stake in Installed Building Products by 54.0% during the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after buying an additional 16,569 shares during the period. 99.61% of the stock is currently owned by hedge funds and other institutional investors.

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.