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

Installed Building Products (NYSE:IBP) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

IBP has been the subject of several other reports. Stephens restated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research note on Monday, August 5th. Evercore ISI increased their target price on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their price target for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Jefferies Financial Group increased their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Finally, DA Davidson dropped their price target on Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $253.70.

Installed Building Products Stock Performance

IBP traded down $10.34 on Tuesday, reaching $225.42. The company had a trading volume of 334,715 shares, compared to its average volume of 295,328. The stock has a market cap of $6.34 billion, a P/E ratio of 25.05 and a beta of 1.95. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products has a fifty-two week low of $145.13 and a fifty-two week high of $281.04. The company’s fifty day moving average is $230.91 and its 200 day moving average is $222.92.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new position in shares of Installed Building Products in the 3rd quarter worth approximately $353,000. TD Private Client Wealth LLC lifted its holdings in Installed Building Products by 15.3% in the third 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 holdings in 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 worth $3,963,000 after acquiring an additional 8,815 shares during the period. Coldstream Capital Management Inc. bought a new position in shares of Installed Building Products in the 3rd quarter worth about $203,000. Finally, Geode Capital Management LLC lifted its stake in shares of Installed Building Products by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock valued at $153,452,000 after purchasing an additional 23,179 shares during the period. 99.61% of the stock is currently owned by institutional investors and hedge funds.

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.