Truist Financial Issues Pessimistic Forecast for Installed Building Products (NYSE:IBP) Stock Price

Installed Building Products (NYSE:IBP) had its target price lowered by stock analysts at Truist Financial from $240.00 to $180.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the construction company’s stock. Truist Financial’s price objective would suggest a potential upside of 8.32% from the stock’s previous close.

A number of other analysts have also commented on the stock. DA Davidson lowered their target price on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, February 28th. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their price objective for the company from $203.00 to $197.00 in a report on Friday, November 8th. Evercore ISI cut Installed Building Products from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Finally, The Goldman Sachs Group dropped their price objective 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $219.40.

Installed Building Products Trading Up 2.4 %

Shares of IBP stock opened at $166.18 on Monday. Installed Building Products has a 12 month low of $159.76 and a 12 month high of $281.04. The company has a market cap of $4.68 billion, a PE ratio of 18.46 and a beta of 1.99. The company has a quick ratio of 2.50, a current ratio of 2.99 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $182.67 and its two-hundred day moving average is $207.99.

Hedge Funds Weigh In On Installed Building Products

Several hedge funds and other institutional investors have recently made changes to their positions in IBP. FMR LLC lifted its stake in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after acquiring an additional 367,628 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new stake in shares of Installed Building Products in the 3rd quarter valued at about $54,499,000. First Trust Advisors LP lifted its stake in Installed Building Products by 69.8% in the 4th quarter. First Trust Advisors LP now owns 485,727 shares of the construction company’s stock valued at $85,124,000 after purchasing an additional 199,657 shares during the last quarter. Norges Bank bought a new position in Installed Building Products during the fourth quarter worth about $28,509,000. Finally, T. Rowe Price Investment Management Inc. increased its position in Installed Building Products by 87.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 338,081 shares of the construction company’s stock worth $59,249,000 after buying an additional 158,173 shares during the last quarter. 99.61% of the stock is 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.