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DA Davidson’s latest rating for IBP stock

Installed Building Products Inc’s filing revealed that its Chief Admin & Sustainability Niswonger Jason R unloaded Company’s shares for reported $1.38 million on May 13 ’24. In the deal valued at $229.84 per share,6,000 shares were sold. As a result of this transaction, Niswonger Jason R now holds 13,159 shares worth roughly $3.05 million.

Then, FRY TODD R sold 500 shares, generating $116,750 in total proceeds. Upon selling the shares at $233.50, the Chief Accounting Officer now owns 7,176 shares.

Before that, Wheeler Brad A sold 1,119 shares. Installed Building Products Inc shares valued at $273,282 were divested by the Chief Operating Officer at a price of $244.22 per share. As a result of the transaction, Wheeler Brad A now holds 6,679 shares, worth roughly $1.55 million.

DA Davidson initiated its Installed Building Products Inc [IBP] rating to a Buy in a research note published on March 05, 2024; the price target was $275. A number of analysts have revised their coverage, including JP Morgan’s analysts, who decreased its forecast for the stock in late February from “an Overweight” to “a Neutral”. Loop Capital also remained covering IBP and has increased its forecast on January 08, 2024 with a “Buy” recommendation from previously “Hold” rating. Truist revised its rating on January 04, 2024. It rated IBP as “a Hold” which previously was an “a Buy”.

Price Performance Review of IBP

On Tuesday, Installed Building Products Inc [NYSE:IBP] saw its stock jump 1.49% to $231.62. Over the last five days, the stock has lost -2.24%. Installed Building Products Inc shares have risen nearly 27.54% since the year began. Nevertheless, the stocks have risen 106.15% over the past one year. While a 52-week high of $263.76 was reached on 04/01/24, a 52-week low of $102.82 was recorded on 01/05/24. SMA at 50 days reached $241.83, while 200 days put it at $178.79. A total of 0.25 million shares were traded, compared to the trading of 0.29 million shares in the previous session.

Levels Of Support And Resistance For IBP Stock

The 24-hour chart illustrates a support level at 228.78, which if violated will result in even more drops to 225.93. On the upside, there is a resistance level at 233.46. A further resistance level may holdings at 235.30. The Relative Strength Index (RSI) on the 14-day chart is 45.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.78, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.19%. Stochastics %K at 25.31% indicates the stock is a holding.

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