DA Davidson Cuts Installed Building Products (NYSE:IBP) Price Target to $225.00

Installed Building Products (NYSE:IBP) had its target price cut by DA Davidson from $260.00 to $225.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. DA Davidson’s price target suggests a potential upside of 32.02% from the company’s previous close.

A number of other research firms have also issued reports on IBP. StockNews.com upgraded Installed Building Products from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Evercore ISI lowered Installed Building Products from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $238.00 to $206.00 in a research report on Monday, December 16th. The Goldman Sachs Group lowered their target price 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. Royal Bank of Canada downgraded Installed Building Products from a “sector perform” rating to an “underperform” rating and decreased their price target for the stock from $203.00 to $197.00 in a research note on Friday, November 8th. Finally, Seaport Res Ptn cut Installed Building Products from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Installed Building Products currently has an average rating of “Hold” and a consensus price target of $236.90.

Installed Building Products Stock Up 0.2 %

IBP stock traded up $0.38 during midday trading on Friday, hitting $170.44. 108,030 shares of the company’s stock were exchanged, compared to its average volume of 349,065. The company has a current ratio of 2.99, a quick ratio of 2.50 and a debt-to-equity ratio of 1.18. Installed Building Products has a 12-month low of $162.20 and a 12-month high of $281.04. The firm has a 50 day moving average price of $183.34 and a 200-day moving average price of $208.92. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 18.89 and a beta of 1.99.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Curio Wealth LLC acquired a new stake in shares of Installed Building Products in the 4th quarter valued at about $30,000. Advisors Asset Management Inc. increased its stake in shares of Installed Building Products by 152.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after purchasing an additional 140 shares during the last quarter. McIlrath & Eck LLC lifted its holdings in shares of Installed Building Products by 32.3% during the 4th quarter. McIlrath & Eck LLC now owns 250 shares of the construction company’s stock worth $44,000 after acquiring an additional 61 shares during the last quarter. Quarry LP lifted its stake in 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 during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Installed Building Products by 295.7% during the fourth 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 during 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.