Price Action Alert: What’s Propelling Installed Building Products Inc to Reach 52-Week High?

Price Action Alert: What's Propelling Installed Building Products Inc to Reach 52 Week High?

The stock of Installed Building Products Inc (NYSE:IBP) hit a new 52-week high and has $42.98 target or 6.00% above today’s $40.55 share price. The 9 months bullish chart indicates low risk for the $1.27B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $42.98 price target is reached, the company will be worth $76.20M 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. About 88,153 shares traded hands. Installed Building Products Inc (NYSE:IBP) has risen 47.64% since April 20, 2016 and is uptrending. It has outperformed by 43.08% the S&P500.

Installed Building Products Inc (NYSE:IBP) Ratings Coverage

Out of 8 analysts covering Installed Building Products (NYSE:IBP), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. Installed Building Products has been the topic of 10 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The stock of Installed Building Products Inc (NYSE:IBP) has “Overweight” rating given on Thursday, September 17 by Wood. Zelman downgraded Installed Building Products Inc (NYSE:IBP) on Tuesday, April 5 to “Hold” rating. RBC Capital Markets maintained it with “Outperform” rating and $31 target price in Thursday, July 30 report. RBC Capital Markets maintained Installed Building Products Inc (NYSE:IBP) rating on Wednesday, November 16. RBC Capital Markets has “Outperform” rating and $45 price target. The stock of Installed Building Products Inc (NYSE:IBP) earned “Buy” rating by Seaport Global Securities on Tuesday, November 22. The rating was downgraded by KeyBanc Capital Markets to “Sector Perform” on Wednesday, January 27. The company was maintained on Friday, August 12 by Deutsche Bank. The rating was maintained by UBS on Friday, August 14 with “Buy”. The firm has “Outperform” rating given on Thursday, October 29 by RBC Capital Markets. The rating was upgraded by SunTrust on Thursday, March 17 to “Buy”.

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 decreased to 1.43 in 2016 Q2. Its down 0.28, from 1.71 in 2016Q1. The ratio is negative, 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.
Blackrock Investment Mngmt Ltd Llc holds 81,780 shares or 0% of its portfolio. Huntington Bancorporation holds 0% of its portfolio in Installed Building Products Inc (NYSE:IBP) for 1,000 shares. Ameriprise Fincl accumulated 110,829 shares or 0% of the stock. Capstone Asset Com has invested 0.01% of its portfolio in Installed Building Products Inc (NYSE:IBP). State Of Tennessee Treasury Department reported 13,283 shares or 0% of all its holdings. Fisher Asset Mngmt Limited Com last reported 100,963 shares in the company. The Ontario – Canada-based Retail Bank Of Montreal Can has invested 0% in Installed Building Products Inc (NYSE:IBP). Deere & accumulated 0.04% or 17,964 shares. Susquehanna Grp Inc Llp holds 11,633 shares or 0% of its portfolio. Citadel Advisors Ltd Limited Liability Company owns 47,009 shares or 0% of their US portfolio. Creative Planning has 4,432 shares for 0% of their US portfolio. California State Teachers Retirement Sys has invested 0% of its portfolio in Installed Building Products Inc (NYSE:IBP). Blackrock owns 15,797 shares or 0% of their US portfolio. Pnc Fincl Group holds 0% or 10,548 shares in its portfolio. Voya Mgmt Limited Co last reported 9,381 shares in the company.

More recent Installed Building Products Inc (NYSE:IBP) news were published by: Businesswire.com which released: “Installed Building Products Announces Agreement to Acquire Commercial …” on October 29, 2016. Also Businesswire.com published the news titled: “Installed Building Products Announces the Acquisition of 3R Products …” on November 14, 2016. Businesswire.com‘s news article titled: “Installed Building Products Announces the Acquisition of the Overhead Door …” with publication date: November 10, 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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