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Shares of Installed Buildi Rise to a New 52-Week High

By Shiri Gupta

Shares of Installed Buildi (NYSE:IBP) traded at a new 52-week high today of $59.99. Approximately 88,000 shares have changed hands today, as compared to an average 30-day volume of 158,000 shares.

Over the past year, Installed Buildi has traded in a range of $29.24 to $59.99 and is now at $59.57, 104% above that low. The 200-day and 50-day moving averages have moved 0.89% higher and 0.41% higher over the past week, respectively.

Installed Buildi has overhead space with shares priced $59.57, or 15.2% below the average consensus analyst price target of $70.29. The stock should find initial support at its 50-day moving average (MA) of $54.87 and further support at its 200-day MA of $46.62.

Installed Building Products Inc installs residential insulation in the United States. The Company also installs complementary building products, including garage doors, rain gutters, shower doors, closet shelving and mirrors.

SmarTrend recommended that subscribers consider buying shares of Installed Buildi on May 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.24. Since that recommendation, shares of Installed Buildi have risen 8.6%. We continue to monitor IBP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows installed buildi

Ticker(s): IBP