Loop Capital Cuts Installed Building Products (NYSE:IBP) Price Target to $215.00

Installed Building Products (NYSE:IBP) had its price target decreased by stock analysts at Loop Capital from $230.00 to $215.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. Loop Capital’s price target would suggest a potential upside of 29.38% from the stock’s previous close.

Several other research firms also recently weighed in on IBP. The Goldman Sachs Group dropped their target price on shares of Installed Building Products from $262.00 to $228.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Seaport Res Ptn lowered Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and reduced their target price for the stock from $203.00 to $197.00 in a report on Friday, November 8th. Evercore ISI downgraded Installed Building Products from an “outperform” rating to an “underperform” rating and lowered their price target for the company from $238.00 to $206.00 in a report on Monday, December 16th. Finally, Benchmark dropped their price target on Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $219.40.

Installed Building Products Stock Up 2.4 %

Shares of IBP stock traded up $3.96 during mid-day trading on Tuesday, reaching $166.18. 543,691 shares of the company were exchanged, compared to its average volume of 379,741. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. The business’s 50 day simple moving average is $182.89 and its 200 day simple moving average is $208.28. The company has a market capitalization of $4.68 billion, a P/E ratio of 18.46 and a beta of 1.99. Installed Building Products has a fifty-two week low of $159.76 and a fifty-two week high of $281.04.

Institutional Trading of Installed Building Products

Several hedge funds have recently bought and sold shares of IBP. Curio Wealth LLC bought a new position in Installed Building Products in the 4th quarter worth about $30,000. McIlrath & Eck LLC grew its holdings in Installed Building Products by 32.3% in the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after buying an additional 61 shares in the last quarter. Advisors Asset Management Inc. increased its position in Installed Building Products by 152.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock valued at $57,000 after acquiring an additional 140 shares during the period. Smartleaf Asset Management LLC raised its stake in Installed Building Products by 295.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 364 shares of the construction company’s stock valued at $64,000 after acquiring an additional 272 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Installed Building Products by 953.3% in the third quarter. Quarry LP now owns 316 shares of the construction company’s stock worth $78,000 after purchasing an additional 286 shares in the last quarter. 99.61% of the stock is currently owned by institutional investors.

Installed Building Products Company Profile

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.