Installed Building Products (NYSE:IBP) Stock Rating Lowered by Benchmark

Installed Building Products (NYSE:IBP) was downgraded by stock analysts at Benchmark from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Marketbeat.com reports.

A number of other research analysts also recently weighed in on IBP. Wells Fargo & Company increased their target price on shares of Installed Building Products from $275.00 to $310.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Vertical Research initiated coverage on shares of Installed Building Products in a research report on Monday, October 20th. They set a “sell” rating for the company. Zacks Research lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Jefferies Financial Group upped their target price on Installed Building Products from $230.00 to $259.00 and gave the company a “hold” rating in a report on Monday, December 15th. Finally, Evercore set a $265.00 price target on shares of Installed Building Products in a research report on Thursday, November 6th. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $235.36.

Installed Building Products Price Performance

Shares of NYSE IBP opened at $336.94 on Wednesday. The firm has a market capitalization of $9.14 billion, a P/E ratio of 36.27, a P/E/G ratio of 7.58 and a beta of 1.92. The firm’s 50-day moving average price is $285.62 and its 200-day moving average price is $265.27. The company has a current ratio of 2.78, a quick ratio of 2.28 and a debt-to-equity ratio of 1.25. Installed Building Products has a 1-year low of $150.83 and a 1-year high of $341.60.

Insider Activity at Installed Building Products

In related news, Director Michael H. Thomas sold 2,001 shares of Installed Building Products stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total value of $536,828.28. Following the completion of the sale, the director directly owned 8,373 shares in the company, valued at approximately $2,246,308.44. This trade represents a 19.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently modified their holdings of IBP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Installed Building Products by 3.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,130 shares of the construction company’s stock valued at $2,423,000 after purchasing an additional 486 shares during the period. United Services Automobile Association purchased a new position in Installed Building Products in the 1st quarter worth approximately $263,000. Jane Street Group LLC boosted its position in shares of Installed Building Products by 270.0% during the first quarter. Jane Street Group LLC now owns 17,192 shares of the construction company’s stock worth $2,948,000 after acquiring an additional 12,545 shares during the last quarter. KLP Kapitalforvaltning AS grew its position in shares of Installed Building Products by 6.5% during the second quarter. KLP Kapitalforvaltning AS now owns 4,900 shares of the construction company’s stock valued at $884,000 after purchasing an additional 300 shares in the last quarter. Finally, Verdence Capital Advisors LLC bought a new stake in Installed Building Products in the 2nd quarter worth approximately $220,000. 99.61% of the stock is owned by institutional investors.

About Installed Building Products

Installed Building Products, Inc (NYSE: IBP) is a leading national installer of specialty building products serving the U.S. residential construction market. The company partners with homebuilders and contractors to deliver a comprehensive range of interior and exterior finishing services, including insulation, drywall finishing, protective coatings and basement waterproofing systems. By offering a single-source solution, Installed Building Products helps streamline project coordination and ensures consistent service quality across multiple trades.

Founded in 1977 and headquartered in Columbus, Ohio, Installed Building Products has expanded from a regional insulation installer into a nationwide platform operating in nearly every state.