Short Interest in Installed Building Products, Inc. (NYSE:IBP) Increases By 7.4%

Installed Building Products, Inc. (NYSE:IBP) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,460,000 shares, an increase of 7.4% from the January 15th total of 1,360,000 shares. Approximately 6.2% of the shares of the stock are short sold. Based on an average daily volume of 306,000 shares, the short-interest ratio is presently 4.8 days.

Installed Building Products Price Performance

Shares of NYSE:IBP traded down $4.34 during trading on Tuesday, reaching $173.73. The stock had a trading volume of 400,942 shares, compared to its average volume of 312,382. Installed Building Products has a 52 week low of $169.02 and a 52 week high of $281.04. The business’s 50-day moving average price is $187.49 and its 200 day moving average price is $211.53. 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 $4.89 billion, a PE ratio of 19.30 and a beta of 1.99.

Analysts Set New Price Targets

A number of research analysts have commented on IBP shares. Royal Bank of Canada cut shares of Installed Building Products from a “sector perform” rating to an “underperform” rating and cut their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Seaport Res Ptn cut shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. Evercore ISI cut shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $238.00 to $206.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. raised their price target on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group cut their price target on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $240.40.

Institutional Trading of Installed Building Products

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Installed Building Products by 121.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 16,094 shares of the construction company’s stock valued at $3,963,000 after purchasing an additional 8,815 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in shares of Installed Building Products in the third quarter valued at approximately $54,499,000. Creative Planning increased its holdings in shares of Installed Building Products by 39.6% in the third quarter. Creative Planning now owns 7,712 shares of the construction company’s stock valued at $1,899,000 after purchasing an additional 2,187 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Installed Building Products by 6.4% in the third quarter. Natixis Advisors LLC now owns 74,252 shares of the construction company’s stock valued at $18,286,000 after purchasing an additional 4,451 shares in the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Installed Building Products by 54.0% in the third quarter. Citigroup Inc. now owns 47,235 shares of the construction company’s stock valued at $11,633,000 after purchasing an additional 16,569 shares in 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.