Installed Building Products, Inc. (NYSE:IBP) Shares Purchased by CacheTech Inc.

CacheTech Inc. grew its position in shares of Installed Building Products, Inc. (NYSE:IBP) by 4.0% during the 3rd quarter, Holdings Channel reports. The firm owned 11,888 shares of the construction company’s stock after purchasing 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 reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of IBP. Allspring Global Investments Holdings LLC bought a new stake in Installed Building Products during the first quarter worth approximately $29,000. V Square Quantitative Management LLC bought a new stake in shares of Installed Building Products during the 3rd quarter worth $29,000. GHP Investment Advisors Inc. grew its holdings in shares of Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. CWM LLC raised its position in shares of Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Installed Building Products during the first quarter valued at $68,000. Institutional investors own 99.61% of the company’s stock.

Installed Building Products Price Performance

Shares of NYSE:IBP opened at $216.97 on Friday. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 24.22 and a beta of 1.94. The business has a 50 day moving average price of $231.24 and a 200 day moving average price of $225.40. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. Installed Building Products, Inc. has a twelve month low of $115.25 and a twelve month high of $281.04.

Installed Building Products (NYSE:IBP) last posted its quarterly earnings data on Thursday, August 1st. The construction company reported $2.90 earnings per share for the quarter, beating 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 company had revenue of $737.60 million during the quarter, compared to analysts’ expectations of $743.86 million. Research analysts predict that Installed Building Products, Inc. will post 11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial boosted their target price on shares of Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group increased their price objective on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. StockNews.com cut Installed Building Products from a “buy” rating to a “hold” rating in a research note on Wednesday. Royal Bank of Canada increased their price target on shares of Installed Building Products from $201.00 to $203.00 and gave the stock a “sector perform” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $254.40.

Installed Building Products 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.