DA Davidson Cuts Installed Building Products (NYSE:IBP) Price Target to $260.00

Installed Building Products (NYSE:IBP) had its target price reduced by research analysts at DA Davidson from $275.00 to $260.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. DA Davidson’s price objective indicates a potential upside of 23.66% from the company’s current price. DA Davidson also issued estimates for Installed Building Products’ Q4 2024 earnings at $2.81 EPS, FY2024 earnings at $10.81 EPS and FY2025 earnings at $11.72 EPS.

Several other brokerages have also issued reports on IBP. Royal Bank of Canada lowered Installed Building Products from a “sector perform” rating to an “underperform” rating and dropped their target price for the company from $203.00 to $197.00 in a research report on Friday. The Goldman Sachs Group boosted their target price on Installed Building Products from $260.00 to $295.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stephens restated an “equal weight” rating and set a $240.00 target price on shares of Installed Building Products in a research report on Monday, August 5th. StockNews.com lowered Installed Building Products from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Evercore ISI boosted their target price 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $252.30.

Installed Building Products Trading Down 3.2 %

IBP traded down $7.01 on Friday, hitting $210.26. The company had a trading volume of 577,004 shares, compared to its average volume of 294,807. The company has a market cap of $5.94 billion, a PE ratio of 23.47 and a beta of 1.95. Installed Building Products has a 12-month low of $121.83 and a 12-month high of $281.04. 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 business’s fifty day simple moving average is $231.09 and its 200 day simple moving average is $225.23.

Installed Building Products (NYSE:IBP) last released its quarterly earnings results on Thursday, November 7th. The construction company reported $2.73 EPS for the quarter, missing the consensus estimate of $2.86 by ($0.13). The company had revenue of $760.60 million during 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%. Equities research analysts expect that Installed Building Products will post 11 EPS for the current year.

Institutional Trading of Installed Building Products

Several institutional investors and hedge funds have recently modified their holdings of IBP. Intech Investment Management LLC raised its stake in Installed Building Products by 496.2% in the third quarter. Intech Investment Management LLC now owns 16,850 shares of the construction company’s stock worth $4,150,000 after buying an additional 14,024 shares in the last quarter. Advisors Asset Management Inc. raised its stake in Installed Building Products by 152.2% in the third quarter. Advisors Asset Management Inc. now owns 232 shares of the construction company’s stock worth $57,000 after buying an additional 140 shares in the last quarter. Global Alpha Capital Management Ltd. raised its stake in Installed Building Products by 1.6% in the third quarter. Global Alpha Capital Management Ltd. now owns 65,299 shares of the construction company’s stock worth $16,081,000 after buying an additional 1,000 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in Installed Building Products by 149.3% in the third quarter. Segall Bryant & Hamill LLC now owns 81,075 shares of the construction company’s stock worth $19,966,000 after buying an additional 48,559 shares in the last quarter. Finally, Premier Fund Managers Ltd raised its stake in Installed Building Products by 41.6% in the third quarter. Premier Fund Managers Ltd now owns 80,108 shares of the construction company’s stock worth $20,051,000 after buying an additional 23,532 shares in the last quarter. 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.