DA Davidson Cuts Installed Building Products (NYSE:IBP) Price Target to $225.00

Installed Building Products (NYSE:IBP) had its target price lowered by investment analysts at DA Davidson from $260.00 to $225.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. DA Davidson’s price objective indicates a potential upside of 32.02% from the stock’s current price.

Several other research analysts also recently weighed in on the company. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. The Goldman Sachs Group dropped their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. raised their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. 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’s stock. Based on data from MarketBeat.com, Installed Building Products has a consensus rating of “Hold” and an average target price of $236.90.

Installed Building Products Price Performance

IBP traded up $0.38 during trading on Friday, hitting $170.44. 108,030 shares of the company traded hands, compared to its average volume of 349,065. Installed Building Products has a 1 year low of $162.20 and a 1 year high of $281.04. The company has a market cap of $4.80 billion, a PE ratio of 18.89 and a beta of 1.99. The stock’s 50-day simple moving average is $183.34 and its two-hundred day simple moving average is $208.92. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18.

Institutional Investors Weigh In On Installed Building Products

Several institutional investors and hedge funds have recently modified their holdings of IBP. Wealth Enhancement Advisory Services LLC bought a new position in Installed Building Products in the third quarter valued at approximately $414,000. Nisa Investment Advisors LLC boosted its stake in shares of Installed Building Products by 6.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,577 shares of the construction company’s stock valued at $881,000 after purchasing an additional 201 shares during the last quarter. US Bancorp DE lifted its position in shares of Installed Building Products by 148.4% during the 3rd quarter. US Bancorp DE now owns 2,809 shares of the construction company’s stock valued at $692,000 after acquiring an additional 1,678 shares during the period. Jacobson & Schmitt Advisors LLC raised its holdings in Installed Building Products by 4.1% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 37,797 shares of the construction company’s stock worth $9,308,000 after buying an additional 1,500 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Installed Building Products by 29.3% in the third quarter. New York State Common Retirement Fund now owns 92,077 shares of the construction company’s stock valued at $22,676,000 after purchasing an additional 20,860 shares during the last quarter. Institutional investors and hedge funds 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.