Installed Building Products (NYSE:IBP) Downgraded by StockNews.com to “Hold”

Installed Building Products (NYSE:IBP) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

IBP has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Jefferies Financial Group boosted their price target on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price objective for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Finally, Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their target price for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $240.40.

Installed Building Products Stock Performance

IBP stock traded up $4.74 during midday trading on Thursday, hitting $199.20. The stock had a trading volume of 357,531 shares, compared to its average volume of 272,373. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 22.13 and a beta of 1.98. 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 simple moving average of $197.66 and a 200 day simple moving average of $217.91. Installed Building Products has a 52 week low of $169.02 and a 52 week high of $281.04.

Institutional Investors Weigh In On Installed Building Products

Hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its position in shares of Installed Building Products by 34.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,399 shares of the construction company’s stock worth $245,000 after purchasing an additional 357 shares in the last quarter. Radnor Capital Management LLC raised its position in Installed Building Products by 61.5% in the 4th quarter. Radnor Capital Management LLC now owns 6,138 shares of the construction company’s stock worth $1,076,000 after purchasing an additional 2,338 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Installed Building Products by 14.3% during the 4th quarter. Park Avenue Securities LLC now owns 3,011 shares of the construction company’s stock worth $528,000 after buying an additional 376 shares in the last quarter. Franklin Resources Inc. boosted its position in Installed Building Products by 13.0% in the 3rd quarter. Franklin Resources Inc. now owns 193,766 shares of the construction company’s stock valued at $48,368,000 after buying an additional 22,367 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Installed Building Products in the 3rd quarter valued at $353,000. 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.