Jefferies Thinks Installed Building Products’ Stock is Going to Recover

By Carrie Williams

Jefferies analyst Philip Ng reiterated a Buy rating on Installed Building Products (NYSE: IBP) yesterday and set a price target of $71. The company’s shares closed yesterday at $52.50, close to its 52-week low of $51.30.

According to TipRanks.com, Ng is ranked #261 out of 4853 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Installed Building Products with a $68.50 average price target, representing a 30.5% upside. In a report released today, RBC Capital also reiterated a Buy rating on the stock with a $66 price target.

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The company has a one-year high of $79.40 and a one-year low of $51.30. Currently, Installed Building Products has an average volume of 176.8K.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock.

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Installed Building Products, Inc. engages in the business of installing insulation for the residential new construction market. Its products include garage doors, rain gutters, shower doors, closet shelving, and mirrors. The company was founded in 1977 and is headquartered in Columbus, OH.