Installed Building Products (NYSE:IBP) Cut to Hold at Benchmark

Benchmark cut shares of Installed Building Products (NYSE:IBP) from a buy rating to a hold rating in a research note issued to investors on Wednesday, Marketbeat.com reports.

A number of other research analysts have also recently commented on IBP. Wall Street Zen cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and set a $245.00 price objective on shares of Installed Building Products in a research report on Tuesday, January 13th. Weiss Ratings upgraded shares of Installed Building Products from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Zacks Research downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Finally, Evercore set a $265.00 price target on shares of Installed Building Products in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $239.45.

Installed Building Products Stock Up 2.7%

Shares of Installed Building Products stock opened at $344.07 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.28 and a current ratio of 2.78. Installed Building Products has a 52-week low of $150.83 and a 52-week high of $346.83. The company’s 50 day moving average price is $289.77 and its 200-day moving average price is $267.20. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 37.04, a P/E/G ratio of 7.82 and a beta of 1.92.

Insider Buying and Selling

In related news, Director Michael H. Thomas sold 2,001 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $268.28, for a total transaction of $536,828.28. Following the completion of the transaction, the director directly owned 8,373 shares in the company, valued at approximately $2,246,308.44. The trade was a 19.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 16.20% of the company’s stock.

Institutional Investors Weigh In On Installed Building Products

A number of institutional investors have recently added to or reduced their stakes in IBP. Segall Bryant & Hamill LLC boosted its stake in Installed Building Products by 4.8% during the fourth quarter. Segall Bryant & Hamill LLC now owns 71,443 shares of the construction company’s stock valued at $18,532,000 after buying an additional 3,241 shares during the last quarter. Bridgewater Associates LP raised its holdings in shares of Installed Building Products by 259.7% during the 4th quarter. Bridgewater Associates LP now owns 9,784 shares of the construction company’s stock worth $2,538,000 after acquiring an additional 7,064 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Installed Building Products by 64.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the construction company’s stock valued at $220,000 after acquiring an additional 326 shares during the last quarter. Bridgefront Capital LLC grew its holdings in shares of Installed Building Products by 38.8% in the fourth quarter. Bridgefront Capital LLC now owns 4,224 shares of the construction company’s stock valued at $1,096,000 after purchasing an additional 1,181 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Installed Building Products by 7.6% in the fourth quarter. Rafferty Asset Management LLC now owns 37,068 shares of the construction company’s stock valued at $9,615,000 after purchasing an additional 2,631 shares in the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Company Profile

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.