Home Analyst Ratings Jefferies upgrades Installed Building Products Inc. to Buy and price target...

Jefferies upgrades Installed Building Products Inc. [IBP] to Buy and price target to $132

Jefferies took its Installed Building Products Inc. [NYSE:IBP]‎ rating to the equivalent of Buy from ‎Hold, ‎and the price target to $132 from $106, ‎in a research note dated January 4, 2021. That figure ‎represents around a 29.37% premium ‎from ‎where the company’s shares closed on Thursday.‎ Other ‎analysts also revised their coverage, with KeyBanc Capital Markets’s analysts upgrading the ‎shares ‎from “a Sector weight” rating to “an Overweight” rating in a research note to investors issued in ‎late ‎October. Meanwhile, The Benchmark Company had lowered its rating on IBP to “Hold” from the ‎earlier ‎‎”Buy”, in a research note produced for clients October 05, 2020. In addition, there was a new ‎coverage ‎from Berenberg on August 19, 2020. The research firm rated IBP “a Buy”.

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Is Installed Building Products Inc. ‎‎[NYSE:IBP] a Good Buy Right Now?

It should be noted that ‎IBP technical indicators for short, ‎intermediate as well as long term progress have placed an overall ‎average of 100% as Buy. The average ‎signal changed from 88% Buy in the last week and compares with ‎‎40% Buy in the past month. Data ‎from Installed Building Products Inc.’s Trend Spotter indicated that ‎the signals were Weakest. The ‎stock current average is 0.19 million shares in the past 20 days and the ‎short term average signal ‎indicates a 100% Buy. In the last 50 days, the average trading volume was ‎‎0.22 million shares while the ‎medium term average advocated for 100% Buy. The average long-term ‎signal stands at 100% Buy and ‎the 100-day average volume stands at 0.23 million shares.‎‎


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IBP Price Performance

On Wall ‎Street, Installed Building Products Inc. [NYSE:IBP] finished ‎Thursday’s session down -1.79% at $101.93. ‎The stock went up to $103.77 at the same session while its ‎lowest single day price was $101.04. In the ‎last five days, it saw a fall of about -4.61%, Installed Building ‎Products Inc. shares gained by almost ‎‎48.00% since the beginning of the year. However, the share ‎price has dropped to as low as -16.22% ‎below its one year high. On 10/12/20, the company shares ‎recorded $121.67, the highest single-day ‎price it has got to in the last 52-weeks and a 52-week low was ‎seen on 03/19/20, the same year at ‎‎$29.02. The company’s shares have inclined by 47.60% in the past ‎year. The 50-day SMA achieved is ‎‎$99.26 while the 200-day SMA is $79.38. Volume dropped to 0.13 ‎million from 0.14 million in the ‎previous session.‎‎

Installed Building Products Inc. [IBP] Valuation Measures

Notably, Installed ‎Building ‎Products Inc. [IBP] stock cannot be classified as a good candidate in the listing of ‎underestimated low-‎priced Building Products & Equipment companies to purchase soonest possible ‎with the prevailing 12-‎month PE ratio of 34.25. The measure means the stock is exchanging at a ‎premium as compared to the ‎‎14.40x trailing earnings of the industry. It can be helpful for investors to ‎consider historical price-sales ‎ratio, more specifically, a 1.92 PS value ratio is reported for the last one ‎year of reported earnings. That ‎is higher than the industry average of 0.67 which means IBP serve an ‎unattractive investment ‎opportunity compared to its competitors.‎‎

IBP Stock Support And ‎Resistance Levels

On the 24-hour scale, the immediate backing is ‎perceived around 100.72 level, ‎and in case of violation of this particular level, it will cause more drop to ‎‎99.52 level. On the upper level, ‎‎104.98 is still the key resistance. The stock may increase to the ‎subsequent resistance at 103.45. The ‎Relative Strength Index (RSI) pinned on the 14-day chart is 50.22, ‎implying a neutral technical stance ‎while the MACD stands at -0.48, meaning price will decrease in the ‎next trading period. Percent R ‎indicator moved to 50.17%, implying low price movement. Stochastic %K ‎at 58.60% suggest selling the ‎stock.‎‎

What is the short interest in Installed Building Products Inc.?

Short interest in the ‎Installed ‎Building Products Inc. stock has surged, increasing by 0.22 million shares to total 0.58 million ‎shares on ‎Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.8 million, data from ‎Yahoo ‎Finance shows. The decrease of -37.7% suggests the stock saw some decreased bullish ‎sentiment. The ‎stock’s days to cover (short ratio) moved to while the shorted shares account for just ‎‎3.03% of the ‎overall float for the stock.‎‎

Installed Building Products Inc.’s Biggest Shareholders: ‎Who Owns Installed Building Products Inc. ‎‎[IBP]?

Filings by BlackRock Fund Advisors showed that ‎the firm now holds a total of 3,356,070 ‎shares or roughly 11.26% of the outstanding IBP shares. This ‎means their shares have increased by ‎‎123,118 from the 3,356,070 the investor reportedly held in its ‎prior 13-F filing. With the conclusion of ‎the purchase, The Vanguard Group, Inc. updated stake is worth ‎‎$222,892,562. Details in the latest 13F ‎filings reveal that BAMCO, Inc. acquired their 0.34% stake valued ‎at $204,183,366 while Wellington ‎Management Co. LLP added theirs at $97,297,184. During the last ‎quarter, BAMCO, Inc. raised 7,015 of ‎its shares in Installed Building Products Inc. while Wellington ‎Management Co. LLP bought 1,028 ‎shares. The Dimensional Fund Advisors LP’s holdings currently ‎number 960,820 shares at $97936382.6. ‎According to the firm’s last 13F report, Ivy Investment ‎Management Co. shares in the company at filing ‎stood at 801,709 shares, roughly $79,224,883.‎‎

IBP ‎Earnings Forecast For The Current Quarter

Installed Building Products Inc. [IBP] is ‎expected to ‎report strong earnings results for the quarter ending on Dec 2020. Consensus estimates ‎give the ‎company expected revenues of $446.85M and an earnings per share of $1.23 for Dec 2020. ‎Looking ‎further ahead, the company is expected to report revenue of $454.59M at an EPS of $1.08 for ‎Mar ‎‎2021. The estimates represent upside of 15.00% and 30.38% in the company’s revenue and ‎earnings ‎per share, respectively, on a year-on-year basis.‎‎

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IBP Earnings Estimates For The Current ‎Year

For the financial ‎year, Installed Building Products Inc. [NYSE:IBP] is expected to bring in ‎revenue of $1.66B. The returns ‎are nearly $150.0 million higher than the company’s actual revenue ‎recorded in the fiscal year 2019. In ‎terms of EPS for the 2020, estimate put it at 4.34, higher than that of ‎FY19 by $1.05. Estimates put this ‎year’s earnings growth at 31.90%, 30.40% for the next, and at an ‎annual 36.30% over the next 5-year ‎period. As for sales, forecasts are for an increase of 9.70% in the ‎current fiscal year and a further ‎‎15.00% over the following year.‎

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