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 research report issued on Friday,Briefing.com Automated Import reports. They presently have a $197.00 price objective on the construction company’s stock, down from their previous price objective of $203.00. Royal Bank of Canada’s price target would indicate a potential downside of 9.23% from the company’s current price.

IBP has been the topic of a number of other reports. Truist Financial lifted their price target on Installed Building Products from $235.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Stephens reissued an “equal weight” rating and set a $240.00 price objective on shares of Installed Building Products in a research note on Monday, August 5th. Evercore ISI boosted their price objective on Installed Building Products from $271.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price objective 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. One 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.com, Installed Building Products presently has an average rating of “Hold” and a consensus target price of $253.80.

Installed Building Products Stock Down 4.7 %

Shares of IBP stock opened at $217.04 on Friday. The stock’s 50-day simple moving average is $231.34 and its 200-day simple moving average is $225.41. The company has a debt-to-equity ratio of 1.24, a quick ratio of 2.59 and a current ratio of 3.08. The firm has a market capitalization of $6.13 billion, a PE ratio of 24.22 and a beta of 1.95. Installed Building Products has a fifty-two week low of $115.25 and a fifty-two week high of $281.04.

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

Institutional Trading of Installed Building Products

Large investors have recently made changes to their positions in the company. Swedbank AB acquired a new stake in Installed Building Products during the 1st quarter worth approximately $96,248,000. Price T Rowe Associates Inc. MD lifted its position in Installed Building Products by 1,328.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 197,526 shares of the construction company’s stock worth $51,107,000 after acquiring an additional 183,696 shares during the period. Millennium Management LLC lifted its position in Installed Building Products by 395.3% during the 2nd quarter. Millennium Management LLC now owns 143,166 shares of the construction company’s stock worth $29,446,000 after acquiring an additional 114,259 shares during the period. Thrivent Financial for Lutherans lifted its position in Installed Building Products by 379.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 93,439 shares of the construction company’s stock worth $23,012,000 after acquiring an additional 73,952 shares during the period. Finally, Leeward Investments LLC MA acquired a new stake in Installed Building Products during the 3rd quarter worth approximately $17,972,000. 99.61% of the stock is 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.