Installed Building Products (NYSE:IBP) Price Target Cut to $215.00 by Analysts at Loop Capital

Installed Building Products (NYSE:IBP) had its target price decreased by equities research analysts at Loop Capital from $230.00 to $215.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the construction company’s stock. Loop Capital’s target price would suggest a potential upside of 24.61% from the company’s current price.

IBP has been the subject of a number of other reports. Seaport Res Ptn downgraded shares of Installed Building Products from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their price objective on Installed Building Products from $236.00 to $241.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. DA Davidson decreased their price objective on Installed Building Products from $260.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. StockNews.com downgraded Installed Building Products from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, The Goldman Sachs Group decreased their price target on Installed Building Products from $262.00 to $228.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $219.40.

Installed Building Products Stock Performance

Shares of NYSE:IBP opened at $172.54 on Tuesday. The business has a fifty day moving average of $182.58 and a 200-day moving average of $207.74. The firm has a market cap of $4.86 billion, a PE ratio of 19.17 and a beta of 1.99. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.50 and a current ratio of 2.99. Installed Building Products has a twelve month low of $159.76 and a twelve month high of $281.04.

Institutional Trading of Installed Building Products

A number of institutional investors and hedge funds have recently modified their holdings of IBP. Vanguard Group Inc. grew its holdings in Installed Building Products by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,636,803 shares of the construction company’s stock valued at $462,100,000 after purchasing an additional 16,597 shares during the period. State Street Corp raised its stake in Installed Building Products by 8.4% during the 3rd quarter. State Street Corp now owns 1,248,515 shares of the construction company’s stock worth $307,472,000 after buying an additional 96,780 shares during the period. FIL Ltd raised its stake in Installed Building Products by 14.0% during the 4th quarter. FIL Ltd now owns 1,039,038 shares of the construction company’s stock worth $182,091,000 after buying an additional 127,215 shares during the period. FMR LLC grew its stake in Installed Building Products by 61.5% in the third quarter. FMR LLC now owns 965,551 shares of the construction company’s stock valued at $237,786,000 after acquiring an additional 367,628 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Installed Building Products by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 633,556 shares of the construction company’s stock worth $111,053,000 after acquiring an additional 10,553 shares in the last quarter. 99.61% of the stock is owned by institutional investors.

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.