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

Installed Building Products, Inc. (NYSE:IBP)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $162.20 and last traded at $165.35, with a volume of 281189 shares changing hands. The stock had previously closed at $165.50.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IBP. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $238.00 to $206.00 in a research report on Monday, December 16th. DA Davidson lowered their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group decreased their price objective on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $240.40.

Installed Building Products Trading Down 0.8 %

The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 18.95 and a beta of 1.99. 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 firm’s fifty day moving average is $183.46 and its 200-day moving average is $209.19.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings results on Thursday, February 27th. The construction company reported $2.74 earnings per share for the quarter, missing the consensus estimate of $2.91 by ($0.17). Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. Equities analysts anticipate that Installed Building Products, Inc. will post 10.66 earnings per share for the current year.

Institutional Investors Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Installed Building Products by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock worth $462,100,000 after acquiring an additional 16,597 shares in the last quarter. State Street Corp increased its position in shares of Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after acquiring an additional 96,780 shares in the last quarter. FIL Ltd increased its position in shares of Installed Building Products by 14.0% during the fourth quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock worth $182,091,000 after acquiring an additional 127,215 shares in the last quarter. FMR LLC increased its position in shares of Installed Building Products by 61.5% during the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock worth $237,786,000 after acquiring an additional 367,628 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Installed Building Products by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after purchasing an additional 10,553 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

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.