Installed Building Products (NYSE:IBP) Lowered to “Underperform” Rating by Royal Bank of Canada

Installed Building Products (NYSE:IBP) was downgraded by research analysts at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a report released on Friday,Briefing.com Automated Import reports. They presently have a $197.00 price target on the construction company’s stock, down from their previous price target of $203.00. Royal Bank of Canada’s price target points to a potential downside of 9.23% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Truist Financial raised their price objective on Installed Building Products from $235.00 to $240.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Stephens reaffirmed an “equal weight” rating and issued a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. The Goldman Sachs Group raised their price objective on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Jefferies Financial Group raised their price objective on Installed Building Products from $240.00 to $252.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. Finally, StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Installed Building Products has a consensus rating of “Hold” and a consensus price target of $253.80.

Installed Building Products Stock Performance

Shares of IBP stock opened at $217.04 on Friday. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 24.22 and a beta of 1.95. The stock has a 50 day simple moving average of $231.34 and a 200-day simple moving average of $225.41. Installed Building Products has a 12-month low of $115.25 and a 12-month high of $281.04. The company has a current ratio of 3.08, a quick ratio of 2.59 and a debt-to-equity ratio of 1.24.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Installed Building Products during the first quarter worth about $29,000. V Square Quantitative Management LLC purchased a new stake in shares of Installed Building Products during the third quarter worth about $29,000. GHP Investment Advisors Inc. increased its position in shares of Installed Building Products by 185.7% during the third quarter. GHP Investment Advisors Inc. now owns 120 shares of the construction company’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. CWM LLC increased its position in shares of Installed Building Products by 32.1% during the second quarter. CWM LLC now owns 255 shares of the construction company’s stock worth $52,000 after acquiring an additional 62 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Installed Building Products during the first quarter worth about $68,000. Institutional investors and hedge funds 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.