Notable Price Action: Can Installed Building Products Inc’s Tomorrow be Different? The Stock Just Broke Its High

Notable Price Action: Can Installed Building Products Inc's Tomorrow be Different? The Stock Just Broke Its High

The stock of Installed Building Products Inc (NYSE:IBP) hit a new 52-week high and has $62.91 target or 54.00% above today’s $40.85 share price. The 6 months bullish chart indicates low risk for the $1.32 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $62.91 price target is reached, the company will be worth $712.80M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 3.42% or $1.35 on November 17, hitting $40.85. About 234,292 shares traded hands or 30.97% up from the average. Installed Building Products Inc (NYSE:IBP) has risen 43.17% since April 15, 2016 and is uptrending. It has outperformed by 38.54% the S&P500.

Installed Building Products Inc (NYSE:IBP) Ratings Coverage

Out of 7 analysts covering Installed Building Products (NYSE:IBP), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. Installed Building Products has been the topic of 9 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, July 30 by RBC Capital Markets. KeyBanc Capital Markets downgraded the shares of IBP in a report on Wednesday, January 27 to “Sector Perform” rating. UBS maintained the shares of IBP in a report on Friday, August 14 with “Buy” rating. The rating was upgraded by SunTrust on Thursday, March 17 to “Buy”. Wood maintained Installed Building Products Inc (NYSE:IBP) rating on Thursday, September 17. Wood has “Overweight” rating and $33 price target. The rating was downgraded by Zelman on Tuesday, April 5 to “Hold”. The stock has “Outperform” rating given by RBC Capital Markets on Thursday, October 29. The firm has “Buy” rating by Deutsche Bank given on Friday, August 12. On Wednesday, November 16 the stock rating was maintained by RBC Capital Markets with “Outperform”.

According to Zacks Investment Research, “Installed Building Products, Inc. operates as a residential insulation installer in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors. It serves homebuilders, multi-family and commercial builders, individual homeowners, and repair and remodeling contractors. Installed Building Products, Inc. is headquartered in Columbus, Ohio.”

Insitutional Activity: The institutional sentiment increased to 1.71 in Q2 2016. Its up 0.30, from 1.41 in 2016Q1. The ratio is positive, as 11 funds sold all Installed Building Products Inc shares owned while 34 reduced positions. 32 funds bought stakes while 45 increased positions. They now own 19.30 million shares or 1.04% more from 19.10 million shares in 2016Q1.
Louisiana State Employees Retirement Sys holds 0.01% or 7,400 shares in its portfolio. Zacks holds 0.03% or 24,102 shares in its portfolio. National Bank Of Montreal Can holds 0% or 216 shares in its portfolio. Wells Fargo And Company Mn holds 0% of its portfolio in Installed Building Products Inc (NYSE:IBP) for 21,520 shares. Bb&T Llc holds 0.01% or 11,300 shares in its portfolio. The Missouri-based Century Cos has invested 0% in Installed Building Products Inc (NYSE:IBP). Legal General Grp Public Limited Co last reported 0% of its portfolio in the stock. Numeric Lc accumulated 45,400 shares or 0.01% of the stock. Ny State Common Retirement Fund has 20,000 shares for 0% of their US portfolio. 1832 Asset Mngmt L P has invested 0% of its portfolio in Installed Building Products Inc (NYSE:IBP). The United Kingdom-based Gsa Cap Prtnrs Ltd Liability Partnership has invested 0.05% in Installed Building Products Inc (NYSE:IBP). Keybank Association Oh has 10,016 shares for 0% of their US portfolio. Victory last reported 0% of its portfolio in the stock. Driehaus Mngmt Lc has 77,575 shares for 0.1% of their US portfolio. Susquehanna Intll Group Incorporated Llp has invested 0% of its portfolio in Installed Building Products Inc (NYSE:IBP).

More recent Installed Building Products Inc (NYSE:IBP) news were published by: Businesswire.com which released: “Installed Building Products Announces the Acquisition of 3R Products …” on November 14, 2016. Also Businesswire.com published the news titled: “Installed Building Products Announces Agreement to Acquire Commercial …” on October 29, 2016. Businesswire.com‘s news article titled: “Installed Building Products Announces Acquisition of Insulation Installer with …” with publication date: November 09, 2015 was also an interesting one.

IBP Company Profile

Toll Brothers, Inc., incorporated on May 28, 1986, designs, builds, markets and arranges financing for detached and attached homes in luxury residential communities. The Firm caters to move-up, empty nester, active-adult, age-qualified and second-home buyers in the United States (Traditional Home Building Product). The Firm operates in two divisions: traditional home building and urban infill. Within traditional home building, it operates in approximately five geographic divisions around the United States: the North, consisting of Connecticut, Illinois, Massachusetts, Michigan, Minnesota, New Jersey and New York; the Mid-Atlantic, consisting of Delaware, Maryland, Pennsylvania and Virginia; the South, consisting of Florida, North Carolina and Texas, and the West, consisting of Arizona, Colorado, Nevada and Washington, and California. It also manufactures and sells homes in urban infill markets through Toll Brothers City Living (City Living). The Firm also operates in Boise, Idaho market.

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