The Goldman Sachs Group Cuts Installed Building Products (NYSE:IBP) Price Target to $228.00

Installed Building Products (NYSE:IBP) had its price target cut by analysts at The Goldman Sachs Group from $262.00 to $228.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 30.43% from the company’s previous close.

Several other analysts also recently weighed in on the company. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their target price for the company from $203.00 to $197.00 in a research note on Friday, November 8th. Jefferies Financial Group raised their price objective on shares of Installed Building Products from $240.00 to $252.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. DA Davidson cut their target price on shares of Installed Building Products from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Evercore ISI downgraded shares of Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price objective for the stock from $238.00 to $206.00 in a report on Monday, December 16th. Finally, Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Installed Building Products currently has an average rating of “Hold” and a consensus price target of $240.40.

Installed Building Products Stock Performance

Shares of IBP opened at $174.80 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.99 and a quick ratio of 2.50. Installed Building Products has a one year low of $169.02 and a one year high of $281.04. The company’s fifty day moving average price is $199.59 and its 200 day moving average price is $218.34. The company has a market capitalization of $4.92 billion, a PE ratio of 19.42 and a beta of 1.98.

Hedge Funds Weigh In On Installed Building Products

A number of large investors have recently made changes to their positions in IBP. State Street Corp raised its position in Installed Building Products by 8.4% during the third quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock valued at $307,472,000 after purchasing an additional 96,780 shares in the last quarter. FMR LLC increased its stake in shares of Installed Building Products by 61.5% in the 3rd quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after purchasing an additional 367,628 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Installed Building Products by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 623,003 shares of the construction company’s stock worth $153,452,000 after buying an additional 23,179 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Installed Building Products by 6.5% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 329,166 shares of the construction company’s stock valued at $81,063,000 after buying an additional 20,155 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Installed Building Products by 8.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 276,383 shares of the construction company’s stock valued at $68,065,000 after acquiring an additional 21,942 shares during the last quarter. Institutional investors own 99.61% of the company’s stock.

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.