Installed Building Products (NYSE:IBP) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Installed Building Products (NYSE:IBP) had its price objective boosted by analysts at JPMorgan Chase & Co. from $236.00 to $241.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the construction company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 11.01% from the company’s current price.

IBP has been the topic of several other reports. Truist Financial lifted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and lowered their price objective for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Stephens reiterated an “equal weight” rating and set a $240.00 price target on shares of Installed Building Products in a report on Monday, August 5th. Jefferies Financial Group raised their price objective on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, DA Davidson reduced their price target on shares of 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $253.70.

Installed Building Products Trading Up 2.8 %

NYSE:IBP opened at $217.09 on Friday. The stock has a fifty day simple moving average of $230.72 and a 200 day simple moving average of $223.09. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 24.12 and a beta of 1.95. Installed Building Products has a 1-year low of $144.15 and a 1-year high of $281.04. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18.

Institutional Investors Weigh In On Installed Building Products

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Installed Building Products by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock worth $683,421,000 after purchasing an additional 18,890 shares during the last quarter. Swedbank AB boosted its holdings in shares of Installed Building Products by 11.6% during the 2nd quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after buying an additional 43,000 shares during the period. Blue Trust Inc. boosted its holdings in shares of Installed Building Products by 456.2% during the 2nd quarter. Blue Trust Inc. now owns 3,810 shares of the construction company’s stock worth $784,000 after buying an additional 3,125 shares during the period. Price T Rowe Associates Inc. MD grew 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 valued at $51,107,000 after buying an additional 183,696 shares during the last quarter. Finally, Summit Global Investments bought a new position in Installed Building Products in the 2nd quarter worth $1,146,000. 99.61% of the stock is currently owned by 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.