CacheTech Inc. Grows Holdings in Installed Building Products, Inc. (NYSE:IBP)

CacheTech Inc. raised its position in Installed Building Products, Inc. (NYSE:IBP) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,888 shares of the construction company’s stock after buying an additional 455 shares during the period. CacheTech Inc.’s holdings in Installed Building Products were worth $2,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of IBP. Vanguard Group Inc. boosted its stake in Installed Building Products by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,641,445 shares of the construction company’s stock valued at $683,421,000 after acquiring an additional 18,890 shares during the last quarter. Swedbank AB grew its stake in Installed Building Products by 11.6% in the second quarter. Swedbank AB now owns 415,000 shares of the construction company’s stock worth $85,357,000 after purchasing an additional 43,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Installed Building Products by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 226,428 shares of the construction company’s stock valued at $46,572,000 after buying an additional 4,943 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Installed Building Products by 1,328.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock valued at $51,107,000 after buying an additional 183,696 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after buying an additional 114,259 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Installed Building Products Trading Up 0.0 %

Installed Building Products stock opened at $216.97 on Friday. Installed Building Products, Inc. has a 52-week low of $115.25 and a 52-week high of $281.04. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 24.22 and a beta of 1.94. The firm has a 50-day moving average price of $231.24 and a two-hundred day moving average price of $225.40.

Installed Building Products (NYSE:IBP) last issued its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.13. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. The business had revenue of $737.60 million during the quarter, compared to the consensus estimate of $743.86 million. Sell-side analysts expect that Installed Building Products, Inc. will post 11 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group boosted their target price on shares of Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stephens restated an “equal weight” rating and issued a $240.00 price target on shares of Installed Building Products in a research report on Monday, August 5th. Royal Bank of Canada lifted their price target on shares of Installed Building Products from $201.00 to $203.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Finally, Evercore ISI increased their price objective on shares of Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $254.40.

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.