DA Davidson Has Lowered Expectations for Installed Building Products (NYSE:IBP) Stock Price

Installed Building Products (NYSE:IBP) had its target price decreased by research analysts at DA Davidson from $275.00 to $260.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. DA Davidson’s price objective would indicate a potential upside of 21.75% from the stock’s previous close.

IBP has been the topic of a number of other reports. Stephens restated an “equal weight” rating and issued a $240.00 target price on shares of Installed Building Products in a research note on Monday, August 5th. The Goldman Sachs Group upped their target price on Installed Building Products from $260.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Evercore ISI increased their price objective on Installed Building Products from $271.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Truist Financial increased their price objective on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group increased their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $252.30.

Installed Building Products Price Performance

IBP traded down $3.72 during trading on Friday, reaching $213.55. 140,336 shares of the company were exchanged, compared to its average volume of 291,673. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 23.83 and a beta of 1.95. The company has a quick ratio of 2.59, a current ratio of 3.08 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average is $231.34 and its two-hundred day moving average is $225.41. Installed Building Products has a 12-month low of $121.83 and a 12-month high of $281.04.

Installed Building Products (NYSE:IBP) last announced its earnings results on Thursday, November 7th. The construction company reported $2.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.86 by ($0.13). The business had revenue of $760.60 million during the quarter, compared to the consensus estimate of $757.91 million. Installed Building Products had a return on equity of 44.93% and a net margin of 8.89%. Research analysts forecast that Installed Building Products will post 11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IBP. Allspring Global Investments Holdings LLC bought a new stake in shares of Installed Building Products in the 1st quarter worth $29,000. V Square Quantitative Management LLC bought a new stake in shares of Installed Building Products in the 3rd quarter worth $29,000. GHP Investment Advisors Inc. increased its holdings in shares of Installed Building Products by 185.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after purchasing an additional 78 shares in the last quarter. CWM LLC increased its holdings in shares of Installed Building Products by 32.1% in the 2nd quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after purchasing an additional 62 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Installed Building Products in the 1st quarter worth $68,000. 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.