Installed Building Products (NYSE:IBP) Reaches New 1-Year Low – Here’s What Happened

Shares of Installed Building Products, Inc. (NYSE:IBP) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $168.03 and last traded at $170.64, with a volume of 7381 shares trading hands. The stock had previously closed at $173.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on IBP shares. The Goldman Sachs Group lowered their target price on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a 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. Royal Bank of Canada cut Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price objective for the stock from $203.00 to $197.00 in a research report on Friday, November 8th. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, DA Davidson decreased their price target on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Installed Building Products has an average rating of “Hold” and a consensus price target of $240.40.

Installed Building Products Stock Performance

The company has a market cap of $4.65 billion, a price-to-earnings ratio of 18.36 and a beta of 1.99. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The stock’s 50 day moving average price is $185.35 and its 200 day moving average price is $210.57.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently bought and sold shares of the stock. GHP Investment Advisors Inc. increased its holdings in shares of Installed Building Products by 185.7% during the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Curio Wealth LLC purchased a new stake in Installed Building Products during the fourth quarter valued at about $30,000. McIlrath & Eck LLC increased its stake in Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after acquiring an additional 61 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Installed Building Products by 295.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after buying an additional 272 shares in the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

About Installed Building Products

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.