Installed Building Products, Inc. (NYSE:IBP) Sees Significant Increase in Short Interest

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. Currently, 6.2% of the company’s shares are sold short. Based on an average daily volume of 306,000 shares, the days-to-cover ratio is presently 4.8 days.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IBP shares. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price objective for the company from $238.00 to $206.00 in a research note on Monday, December 16th. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. StockNews.com raised Installed Building Products from a “hold” rating to a “buy” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. raised their price target on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a research note 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, the company presently has a consensus rating of “Hold” and a consensus target price of $240.40.

Installed Building Products Stock Down 2.4 %

Installed Building Products stock traded down $4.34 on Tuesday, hitting $173.73. 400,942 shares of the stock traded hands, compared to its average volume of 312,382. 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 firm has a market cap of $4.89 billion, a P/E ratio of 19.30 and a beta of 1.99. The business’s fifty day simple moving average is $187.49 and its 200 day simple moving average is $211.53. Installed Building Products has a 1 year low of $169.02 and a 1 year high of $281.04.

Hedge Funds Weigh In On Installed Building Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in Installed Building Products during the third quarter valued at $29,000. GHP Investment Advisors Inc. lifted its position in Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock valued at $30,000 after buying an additional 78 shares during the period. Curio Wealth LLC purchased a new position in Installed Building Products during the fourth quarter valued at $30,000. McIlrath & Eck LLC increased its holdings in shares of Installed Building Products by 32.3% during the fourth quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock valued at $44,000 after acquiring an additional 61 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Installed Building Products by 152.2% during the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after acquiring an additional 140 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.