Will Installed Building Products, Inc. (IBP) Short Squeeze Soon? The Stock Formed a Bullish Double Top

January 21, 2018 - By Hazel Jackson

Investors sentiment decreased to 1.49 in Q3 2017. Its down 0.13, from 1.62 in 2017Q2. It dived, as 8 investors sold Installed Building Products, Inc. shares while 45 reduced holdings. 23 funds opened positions while 56 raised stakes. 20.52 million shares or 0.36% less from 20.59 million shares in 2017Q2 were reported.
Royal Commercial Bank Of Canada invested in 0% or 4,014 shares. Ny State Teachers Retirement holds 0% or 11,293 shares in its portfolio. Deutsche Financial Bank Ag, a Germany-based fund reported 65,690 shares. Menta Ltd Com invested in 0.21% or 22,315 shares. Dimensional Fund Advisors Lp has 0.02% invested in Installed Building Products, Inc. (NYSE:IBP). Texas Permanent School Fund stated it has 15,353 shares. Timpani Mngmt Ltd Company stated it has 79,284 shares or 1.87% of all its holdings. Fifth Third Bank & Trust reported 136 shares. Wasatch Advsr Inc has invested 0.75% in Installed Building Products, Inc. (NYSE:IBP). 37,033 are owned by Swiss Retail Bank. Citigroup has 75 shares for 0% of their portfolio. Prudential Fin stated it has 0% in Installed Building Products, Inc. (NYSE:IBP). Great West Life Assurance Co Can owns 28,624 shares for 0% of their portfolio. 75,969 were reported by Guggenheim Limited Liability Company. Ameritas Inv Ptnrs reported 1,894 shares stake.

Since August 4, 2017, it had 0 insider purchases, and 13 insider sales for $14.68 million activity. NIXON J MICHAEL also sold $3.68M worth of Installed Building Products, Inc. (NYSE:IBP) on Thursday, December 7. $102,162 worth of Installed Building Products, Inc. (NYSE:IBP) was sold by Carter Margot Lebenberg. 2,500 Installed Building Products, Inc. (NYSE:IBP) shares with value of $161,521 were sold by Elliott Jay P..

The chart of Installed Building Products, Inc. (IBP) shows a double top with $78.86 target or 6.00 % above today’s $74.40 share price. The 5 months chart pattern indicates low risk for the $2.37 billion company. It was reported on Jan, 21 by Finviz.com. If the $78.86 price target is reached, the company will be worth $142.26M more. Double tops are rare but powerful chart patterns.

The stock increased 0.54% or $0.4 during the last trading session, reaching $74.4. About 216,023 shares traded or 10.97% up from the average. Installed Building Products, Inc. (NYSE:IBP) has risen 54.12% since January 21, 2017 and is uptrending. It has outperformed by 37.42% the S&P500.

Analysts await Installed Building Products, Inc. (NYSE:IBP) to report earnings on February, 26. They expect $0.43 earnings per share, up 22.86 % or $0.08 from last year’s $0.35 per share. IBP’s profit will be $13.70M for 43.26 P/E if the $0.43 EPS becomes a reality. After $0.38 actual earnings per share reported by Installed Building Products, Inc. for the previous quarter, Wall Street now forecasts 13.16 % EPS growth.

Installed Building Products, Inc. (NYSE:IBP) Ratings Coverage

Among 11 analysts covering Installed Building Products (NYSE:IBP), 8 have Buy rating, 0 Sell and 3 Hold. Therefore 73% are positive. Installed Building Products has $86.0 highest and $26 lowest target. $60.89’s average target is -18.16% below currents $74.4 stock price. Installed Building Products had 27 analyst reports since July 30, 2015 according to SRatingsIntel. The stock has “Hold” rating by KeyBanc Capital Markets on Tuesday, September 26. The firm has “Overweight” rating given on Thursday, September 17 by Wood. On Monday, June 19 the stock rating was maintained by RBC Capital Markets with “Buy”. The firm has “Buy” rating by Credit Suisse given on Tuesday, October 17. As per Tuesday, November 22, the company rating was initiated by Seaport Global Securities. RBC Capital Markets maintained the stock with “Outperform” rating in Thursday, October 29 report. The firm earned “Buy” rating on Friday, November 3 by SunTrust. UBS maintained Installed Building Products, Inc. (NYSE:IBP) on Friday, August 14 with “Buy” rating. As per Thursday, March 17, the company rating was upgraded by SunTrust. The firm earned “Buy” rating on Tuesday, January 2 by Seaport Global.

More notable recent Installed Building Products, Inc. (NYSE:IBP) news were published by: Seekingalpha.com which released: “Installed Building Products: Expectations Seem Too High” on July 20, 2017, also Businesswire.com with their article: “Installed Building Products Announces the Acquisition of Blind Ambitions LLC” published on December 29, 2017, Seekingalpha.com published: “Installed Building Products’ (IBP) CEO Jeff Edwards on Q3 2017 Results …” on November 03, 2017. More interesting news about Installed Building Products, Inc. (NYSE:IBP) were released by: Businesswire.com and their article: “Installed Building Products Announces the Acquisition of Red Rock Insulation” published on September 01, 2017 as well as Businesswire.com‘s news article titled: “Installed Building Products Announces the Acquisition of A+ Insulation, LLC” with publication date: October 30, 2017.

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