Evercore ISI Downgrades Installed Building Products (NYSE:IBP) to Underperform

Installed Building Products (NYSE:IBP) was downgraded by equities research analysts at Evercore ISI from an “outperform” rating to an “underperform” rating in a research note issued on Monday, Marketbeat.com reports. They presently have a $206.00 price target on the construction company’s stock, down from their previous price target of $238.00. Evercore ISI’s price target indicates a potential upside of 7.31% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised 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 shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their target price for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. DA Davidson decreased 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 report on Friday, November 8th. StockNews.com raised shares of Installed Building Products from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group raised their target price on Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, Installed Building Products presently has an average rating of “Hold” and an average target price of $247.10.

Installed Building Products Stock Down 1.7 %

Installed Building Products stock opened at $191.98 on Monday. Installed Building Products has a 1-year low of $168.08 and a 1-year high of $281.04. The business has a fifty day moving average price of $222.97 and a 200-day moving average price of $222.87. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 21.33 and a beta of 1.93.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds have recently bought and sold shares of IBP. Franklin Resources Inc. lifted its stake in shares of 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 purchasing an additional 22,367 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Installed Building Products in the third quarter worth about $353,000. TD Private Client Wealth LLC raised its position in shares of 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 worth $255,000 after acquiring an additional 137 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in shares of 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 in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Installed Building Products during the 3rd quarter valued at about $203,000. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Installed Building Products Company Profile

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.