Loop Capital Lowers Installed Building Products (NYSE:IBP) Price Target to $200.00

Installed Building Products (NYSE:IBP) had its target price dropped by stock analysts at Loop Capital from $210.00 to $200.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Loop Capital’s target price would indicate a potential upside of 19.93% from the company’s previous close.

A number of other research analysts have also recently commented on IBP. The Goldman Sachs Group decreased their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Installed Building Products in a research report on Tuesday, April 1st. They issued a “hold” rating and a $183.00 price objective on the stock. Benchmark cut their price target on Installed Building Products from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Finally, Truist Financial decreased their price objective on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a research note on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $212.45.

Installed Building Products Trading Up 3.6%

IBP stock traded up $5.80 during trading on Monday, reaching $166.76. 323,640 shares of the stock were exchanged, compared to its average volume of 336,241. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 18.55 and a beta of 1.85. The business has a 50 day moving average price of $168.82 and a 200-day moving average price of $186.41. Installed Building Products has a 1 year low of $151.27 and a 1 year high of $281.04.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, May 8th. The construction company reported $2.08 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.15). The firm had revenue of $684.80 million for the quarter, compared to analysts’ expectations of $681.34 million. Installed Building Products had a net margin of 8.74% and a return on equity of 43.56%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.47 EPS. On average, research analysts predict that Installed Building Products will post 10.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IBP. Vanguard Group Inc. grew its position in Installed Building Products by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,671,315 shares of the construction company’s stock valued at $458,024,000 after acquiring an additional 34,512 shares during the period. FIL Ltd grew its holdings in Installed Building Products by 14.0% during the 4th quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock valued at $182,091,000 after purchasing an additional 127,215 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Installed Building Products by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after acquiring an additional 10,553 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Installed Building Products by 28.6% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 530,181 shares of the construction company’s stock valued at $90,905,000 after purchasing an additional 117,810 shares in the last quarter. Finally, Giverny Capital Inc. increased its position in shares of Installed Building Products by 3.6% in the 4th quarter. Giverny Capital Inc. now owns 504,735 shares of the construction company’s stock worth $88,455,000 after purchasing an additional 17,620 shares during the last quarter. Hedge funds and other institutional investors own 99.61% of the company’s stock.

About Installed Building Products

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.