Loop Capital Issues Pessimistic Forecast for Installed Building Products (NYSE:IBP) Stock Price

Installed Building Products (NYSE:IBP) had its target price lowered by research analysts at Loop Capital from $230.00 to $215.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Loop Capital’s price objective points to a potential upside of 29.38% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of 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. Truist Financial decreased their target price on shares of Installed Building Products from $240.00 to $180.00 and set a “hold” rating for the company in a report on Monday. Seaport Res Ptn lowered shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. DA Davidson decreased their price objective on shares of Installed Building Products from $260.00 to $225.00 and set a “buy” rating for the company in a research note on Friday. Finally, Benchmark cut their target price on shares of Installed Building Products from $250.00 to $210.00 and set a “buy” rating on the stock in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $219.40.

Installed Building Products Price Performance

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

Institutional Trading of Installed Building Products

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

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.